M&A · Industrials · Services-Miscellaneous Amusement & Recreation
Apollo Global Management, Inc. to acquire Everi Holdings Inc.
Announced Jul 26, 2024 · Closed Jul 1, 2025
Deal value$6.30BEV $6.30B
Premium56.0%To unaffected price
EV / Adj. EBITDA19.5x7.9x EV / Revenue
ConsiderationAll cash$14.25 per share
Transaction
- Acquirer
- Apollo Global Management, Inc. (APO)
- Target
- Everi Holdings Inc. (EVRI)
- Buyer type
- Private equity
- Offer price per share
- $14.25
- Enterprise value
- $6.30B
- Status
- Closed Jul 1, 2025
Deal protections
- Break fee (target pays)
- $65.0M · 1.0%
- Reverse fee (buyer pays)
- $250M · 4.0%
- Go-shop
- No-shop
- Financing
- Committed · Deutsche Bank, Macquarie
Advisors
- To the acquirer
- Not disclosed
- To the target
- Houlihan Lokey
Sector context · Industrials
- Comparable deals
- 84 in the prior 24 months
- Premium
- 56.0% vs. 36.0% sector median
- EV / Adj. EBITDA
- 19.5x vs. 9.6x sector median
- Break fee
- 1.0% vs. 2.8% sector median
Timeline
- AnnouncedJul 26, 2024
- Proxy filedSep 16, 2024
- Definitive proxyOct 4, 2024
- Shareholder voteNov 14, 2024
- ClosedJul 1, 2025
Valuation · fairness opinions
Trading comparables$8.00$11.64
Trading comparables$8.08$12.14
Trading comparables$9.73$12.08
Discounted cash flow$10.29$14.92
Trading comparables$8.54$13.32
Offer $14.25
Implied value per Everi Holdings Inc. share by analysis, from Houlihan Lokey · DCF discount rate 11%–12%.