Surge Private Equity Closes Investment into Coastal Amusements

×

Error message

  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).

On December 1st, 2023, Dallas-based Surge Private Equity, LLC (“Surge”) closed an investment into Coastal Amusements, Inc. (“Coastal” or the “Company”), a leading designer, manufacturer, and importer of coin-operated ticket and prize redemption games headquartered in New Jersey.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, December 8, 2023
Information
Tags: 
Professional Services, Finance, Growth, Partnership, Surge, BakerHostetler
Geotags: 
TEXAS, NEW JERSEY, UNITED STATES, NORTH AMERICA, COAST
⚠ partially generated by AI ↴
Organisation: 
SURGE PRIVATE EQUITY, SURGE PRIVATE EQUITY, LLC, NORTHCOAST MEZZANINE, MINNESOTA BANK & TRUST
Summary
Key Points: 
  • On December 1st, 2023, Dallas-based Surge Private Equity, LLC (“Surge”) closed an investment into Coastal Amusements, Inc. (“Coastal” or the “Company”), a leading designer, manufacturer, and importer of coin-operated ticket and prize redemption games headquartered in New Jersey.
  • CoView Capital , a Manhattan-based investment bank, acted as sole advisor to Coastal.
  • Through this investment, Surge aims to leverage Coastal’s expertise and market position to capitalize on the growing demand for engaging and interactive entertainment experiences.
  • "We look forward to this partnership with Coastal to help guide the Company to its next phase of growth.


On December 1st, 2023, Dallas-based Surge Private Equity, LLC (“Surge”) closed an investment into Coastal Amusements, Inc. (“Coastal” or the “Company”), a leading designer, manufacturer, and importer of coin-operated ticket and prize redemption games headquartered in New Jersey. NorthCoast Mezzanine and Minnesota Bank & Trust provided financing to complete the transaction. BakerHostetler and Moss Adams acted as lead counsel and financial diligence advisor, respectively. CoView Capital, a Manhattan-based investment bank, acted as sole advisor to Coastal.

Coastal plays a crucial role in the arcade entertainment industry supplying distributors and operators with highly profitable games, including hits such as Break-The-Plate and Ring Toss. Through this investment, Surge aims to leverage Coastal’s expertise and market position to capitalize on the growing demand for engaging and interactive entertainment experiences. The collaboration will enable Coastal to explore new avenues for growth, develop cutting-edge products, and enhance the overall customer experience in the amusement industry.

"We look forward to this partnership with Coastal to help guide the Company to its next phase of growth. Our extensive industry experience and network provide us with unique insights into the sector," said Juan Pablo Andrade, Vice President at Surge. "Sal and Lenny, who will remain with the Company, have created an impressive business over the past 35 years, and we are excited to be a part of the continued success.”

About Surge Private Equity

Founded in 2017, Surge is a Dallas-based private equity firm that seeks majority investments in growing businesses with $4MM – $35MM of EBITDA. Together with its lending partners, Surge provides entrepreneurs with liquidity and investors with higher yields and greater accessibility.

About NorthCoast Mezzanine

Founded in 2012, NorthCoast provides subordinated debt and non-control equity co-investments to lower middle-market companies throughout the United States. NorthCoast finances leveraged acquisitions backed by lower middle-market private equity sponsors, management and family-driven ownership transitions, add-on acquisitions, recapitalizations, and growth initiatives.

About Minnesota Bank & Trust

Supported by parent company HTLF, MBT’s unique model leverages technology, efficiency and strength, delivering the best of both worlds: The resources and tools of a large company, combined with local decision-making, unmatched customer service, and in-depth understanding of its customers and communities.

Copyright: 
Copyright Business Wire 2023