Lucky Bucks, a portfolio company of Quantum International Income Corporation and operator of skill-based gaming terminals, closed a new credit facility to refinance the structured capital investment from Trive Capital and finance for future acquisitions. In 2016, Trive provided capital and partnered with Lucky Bucks.
Lucky Bucks LLC (“Lucky Bucks” or the “Company”), a portfolio company of Toronto-based Quantum International Income Corporation (“Quantum”) (TSXV: QIC), has announced the closing of a new credit facility to refinance the structured capital investment provided by Trive Capital (“Trive”) and provide financing for future acquisitions.
Trive originally provided capital to and partnered with Lucky Bucks in October 2016. Since the initial investment and through its partnership with Quantum and Trive, Lucky Bucks has completed nine (9) add-on acquisitions of COAM operators and associated portfolios, increasing scale and growing its footprint within the State of Georgia.
Conner Searcy, Managing Partner at Trive, stated “This transaction represents the flexibility of our mandate in being able to create a tailored, bespoke debt and equity capital solution for Lucky Bucks as part of the Company’s broader acquisition strategy. Since the initial investment in 2016, Trive worked collaboratively with the highly talented QIC and Lucky Bucks teams to execute on strategic acquisitions to grow the Company’s footprint and create value for its shareholders.”
“Trive’s commitment, flexibility and support over the past 18 months was instrumental in our ability to efficiently scale the business through acquisition,” commented Manu K. Sekhri, CEO of Quantum. “Time was of the essence in our initial platform acquisition, and Trive moved incredibly quickly to provide us with a very creative, tailored capital solution, including both debt and equity, to enable us to complete the investment. Subsequently, Trive provided additional capital to allow us to close nine (9) add-on acquisitions.”
Shravan Thadani, Vice President at Trive, added, “The Lucky Bucks transaction is a great example of our ability to partner with strong leadership and execute on an accelerated growth plan, irrespective of our investment type or capital structure. It has been a privilege to work alongside the QIC and Lucky Bucks teams, and we wish them continued success with their new capital partner.”
Headquartered in Atlanta, Georgia, Lucky Bucks is an operator of digital skill-based gaming terminals in the State of Georgia. The Company assembles, distributes, owns and operates over 1,800 gaming terminals in over 360 locations throughout the state, each of which are fully licensed and governed by the Georgia State Lottery. Lucky Bucks’ growth has outpaced the broader COAM gaming market in Georgia, and is now a leading operator with one of the largest and fastest growing footprints in the market.
ABOUT LUCKY BUCKS
Headquartered in Atlanta, Georgia, Lucky Bucks is an operator of skill-based gaming terminals in the State of Georgia. Lucky Bucks assembles, distributes, owns and operates over 1,800 gaming terminals in over 360 locations throughout the state, each of which is fully licensed and governed by the Georgia State Lottery.
ABOUT QUANTUM INTERNATIONAL INCOME CORP.
Quantum International Income Corporation seeks opportunities to acquire and grow businesses in order to generate stable distributions for its shareholders, along with capital appreciation. Quantum seeks to acquire operating businesses with a proven track record, an opportunity for growth and whose management wishes to continue to operate the business going forward. Quantum’s investment approach is to grow through the acquisition of “platform” businesses that are consistent with its business strategy and acquisition criteria and then to continue to build revenues and earnings within these businesses. Potential acquisition targets may be private or public companies in a variety of industries. Acquisition of all or a majority of the ownership of each such business is preferred. Quantum seeks to create value by looking for high growth, high margin opportunities where Quantum believes the acquired businesses can maintain and develop the deep knowledge, expertise and understanding of their customers’ needs required to deliver superior service and command higher pricing and margins than the competition.