– USA, TX / IL – TPG Pace Holdings Corp. (NYSE: TPGH), a leading gaming-as-a-service provider, today announced the intention to appoint Ken Rotman, CEO and Managing Director at Clairvest Group Inc. (TSX: CVG), to the Board of Directors.
Mr. Rotman’s appointment is a result of Clairvest’s election to receive TPG Pace stock in connection with the acquisition of Accel by TPG Pace. Clairvest, one of the most seasoned investors in the gaming sector with over 20 years of experience investing in gaming assets, is the largest Accel shareholder and will be the largest shareholder of the combined company going forward. Mr. Rotman will join the Accel Board of Directors upon the closing of the transaction.
“We are pleased to welcome Ken to the Accel Board,” said Karl Peterson, President and CEO of TPG Pace. “Ken brings to our Board decades of business building experience and financial acumen that will be valuable as Accel continues to deliver on its long-term growth strategy as a publicly traded company later this year. We appreciate the opportunity to work closely with Ken and look forward to his contributions.”
Ken Rotman commented, “Having initially invested in Accel in 2016, Clairvest has a deep understanding of the company’s unique value proposition and opportunities present in the market. We view Accel as one of the most exciting gaming opportunities in North America today. Accordingly, we are pleased to remain a significant shareholder in the combined Accel / TPG Pace company at the close of the transaction and will be rolling 100% of our existing investment. I look forward to this new phase for Accel and to working with the other board members and management team constructively as we create meaningful value.”
About Ken Rotman
Mr. Rotman earned a B.A. from Tufts University, an M.Sc. from the London School of Economics and an M.B.A. from New York University. He is currently a member of the Clairvest board of directors and numerous private companies and charitable organizations.
Mr. Rotman’s appointment will be effective upon the closing of the transaction, at which point he will join the previously announced Accel Board members, all of whom remain subject to any applicable regulatory approvals. In addition to Mr. Rotman, the Accel Board will be comprised of: Karl Peterson, TPG Pace President and CEO; Andy Rubenstein, Accel Co-Founder and CEO; Gordon Rubenstein, Accel Co-Founder; David “Buzz” Ruttenberg, Founder and Chairman Emeritus, Belgravia Group; Eden Godsoe, VP of operations at Zeus Living; and Kathleen Philips, former CFO and Chief Legal Officer of Zillow Group.
Accel is the largest terminal operator of slot machines and amusement equipment in the Illinois video gaming market. Starting in October 2012, Accel has been dedicated to providing top of the line care and service to more than 2,200 locations and customers across the state.
TPG is a leading global alternative asset firm founded in 1992 with more than $108 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.
About TPG Pace Group and TPG Pace Holdings
TPG Pace Group is TPG’s dedicated permanent capital platform. TPG Pace Group has a long-term, patient, and highly flexible investor base, allowing it to seek compelling opportunities that will thrive in the public markets. TPG Pace Group has sponsored three special purpose acquisition companies and raised more than $2 billion since 2015. The first of these vehicles, Pace Holdings Corp., was used to sponsor the public listing of Playa Hotels and Resorts in March 2017 (NASDAQ:PLYA). The second, TPG Pace Energy Holdings Corp., was used to sponsor the public listing of Magnolia Oil & Gas Corporation in July 2018 (NYSE:MGY).
For more information: https://www.tpg.com
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