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Eagle Global Enters Into Financing Agreement With Goldman Sachs Asset Management to Accelerate Growth
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Eagle Global, a women and minority-owned gaming provider, has secured a $50 million financing agreement with Goldman Sachs Asset Management to merge two COAM businesses. This merger positions Eagle as a leader in Georgia's Coin Operated Amusement Machine industry. The funds will support future expansions through acquisitions and growth capital expenditures. The partnership emphasizes a shared vision for inclusivity and superior service in the gaming sector, aiming for organic and acquisition-driven growth.
Positive
Secured a $50 million financing agreement with Goldman Sachs.
Merger enhances Eagle's position as a leader in Georgia's COAM market.
Future expansions planned through acquisitions and growth capital.
Negative
None.
ATLANTA--(BUSINESS WIRE)--
Eagle Global (“Eagle”), a women and minority-owned distributed gaming provider based in Georgia, today announced that it has entered into a $50 million financing agreement with the Private Credit business within Goldman Sachs Asset Management (“Goldman Sachs”) to finance the combination of two COAM businesses. The combination of these businesses makes Eagle one of the leaders within the Coin Operated Amusement Machine (COAM) industry in the state. The agreement includes committed capital available to finance the future expansion of Eagle through acquisition of additional distributed gaming providers in the region and other growth capital expenditures.
The team at Eagle is comprised of experienced operators and private equity investors with more than 40 years in the industry. "We are proud of the team that has grown the business over the past 12 years and are thankful for the support of our customers, our team, and the Georgia Lottery Corporation whose steadfast leadership has helped institutionalize our industry while simultaneously serving the needs of thousands of Georgia residents through their commitment to the various educational programs such as the HOPE and Pre-K scholarships here. We are committed to expanding the opportunity set for leadership by women in areas where there is little representation and, in Goldman Sachs, we have found a partner that shares our vision for a more inclusive platform that offers customers superior levels of service," said Michelle Franklin, Co-Founder and CEO of Eagle.
"We are excited to partner with Michelle, Antonia, and the Eagle team, who we believe embody the qualities we seek in strong management teams. Through their customer value proposition and focus on compliance, we see a compelling opportunity for the company to continue to grow both organically and through acquisitions to increase its competitive footprint in the COAM market," said the team at Goldman Sachs Asset Management.
About Eagle Global
Eagle Global is a Class B Master COAM License owner and operator in the state of Georgia. With a route that extends to almost every corner of the state, a team with over 40 years of industry experience across operations, private equity, and retail, Eagle services the needs of hundreds of customers through its team of skilled technicians and operators. With its partnership with Goldman Sachs, Eagle is actively looking to acquire or partner with other industry operators here in Georgia while continuing to build on its organic growth. For more information, please visit www.eagleglobalinc.com.
About Goldman Sachs Asset Management Private Credit
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of December 30, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1996, the Private Credit business within Goldman Sachs Asset Management is one of the world’s largest private credit investors with over $85 billion in assets across direct lending, mezzanine debt, hybrid capital and asset-based lending strategies. Our deep industry and product knowledge, extensive relationships and global footprint position us to deliver scaled outcomes with speed and certainty, supporting companies from the lower middle market to large cap in size. Follow us on LinkedIn.
