Finance Group secures $15.5m US investment boost

Affiliate firm announces deal with New Jersey-headquartered private equity fund Edison Partners Group has announced a $15.5m investment boost from New Jersey-headquartered equity investment firm Edison Partners.

The affiliate business said the addition of Edison Partners – which manages more than $1.4bn in assets – will help the group achieve its strategic objectives in the US sports betting market.

The group’s flagship website is already active in New Jersey and Pennsylvania, while it has also invested substantial resources in sports betting information source Group CEO Charles Gillespie said: “We have been thoroughly impressed by Edison Partners’ depth of expertise, breadth of knowledge and professional network.

“We greatly look forward to bringing on Edison as our teammate in our new American journey.

“Edison is the right partner at the right time and I expect our collaboration to deliver powerful results.

“Their investment in the Group validates our thesis that we are the performance marketing and content platform best positioned to benefit from the expansion of regulated online gambling in the United States.”

Edison Partners partner Gregg Michaelson will sit on the Group board of directors once the transaction completes.

Edison Partners managing partner Chris Sugden said: “We are thrilled to enter the online gaming market with our investment in Group.

“The company will continue to monetize the large market opportunity in Europe while increasing investment in the US.” Group has also secured licenses to expand business deals with gambling operators in New Jersey, Pennsylvania and West Virginia and has opened a new office in Charlotte, North Carolina.

Affiliates | Charles Gillespie | Edison Partners | Finance | Group