M&A Deal Summary

Northern Pacific Group, DGB Investments and St. Cloud Capital Acquires Pipeworks

On February 23, 2018, private equity firm Northern Pacific Group, family office DGB Investments and private equity firm St. Cloud Capital acquired digital media company Pipeworks, Inc. from Digital Bros S.p.A. for 20M USD

Acquisition Highlights
  • This is Northern Pacific Group’s 1st, DGB Investments’ 1st and St. Cloud Capital’s 1st transaction in the Digital Media sector.
  • This is Northern Pacific Group’s 1st, DGB Investments’ 1st and St. Cloud Capital’s 1st largest (disclosed) transaction.
  • This is Northern Pacific Group’s 7th, DGB Investments’ 1st and St. Cloud Capital’s 27th transaction in the United States.
  • This is Northern Pacific Group’s 1st, DGB Investments’ 1st and St. Cloud Capital’s 1st transaction in Oregon.
Investment Fate
  • Pipeworks was sold to a publicly-traded strategic buyer in 2020 for 100M USD.

M&A Deal Summary

Date 2018-02-23
Target Pipeworks, Inc.
Sector Digital Media
Buyer(s) Northern Pacific Group
DGB Investments
St. Cloud Capital
Sellers(s) Digital Bros S.p.A.
Deal Type Divestiture
Deal Value 20M USD

Target

Pipeworks, Inc.

Eugene, Oregon, United States
website
Pipeworks Studios is an independent studio specializing in advanced consumer and commercial games with innovative, “real world” scenarios for a diverse community of corporate partners. With high-tech projects ranging from Terraria to military simulations, Pipeworks expertly produces amazing game experiences and applications across a variety of industries, technologies, and platforms. Pipeworks Studios was founded in 1999 and is based in Eugene, Oregon.

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Buyer(S) 3

Buyer

Northern Pacific Group

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2012
SizeSmall
Type Sector Agnostic
DESCRIPTION

Northern Pacific Group is a private equity firm focused on acquiring and investing in lower middle-market companies with revenues between $10 and $100 million. Northern Pacific will consider opportunities throughout the US, however the Firm has a focus on businesses operating in the upper Midwest. Target companies typically exhibit possess recurring revenue, high gross margins, and opportunities for growth. Sectors of interest include technology and business services. Northern Pacific Group was formed in 2012 and is headquartered in Woyzata, Minnesota.


DEAL STATS #
Overall 8 of 9
Sector (Digital Media) 1 of 1
Type (Divestiture) 1 of 1
State (Oregon) 1 of 1
Country (United States) 7 of 8
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-09 1st Choice Delivery LLC

St. Louis, Missouri, United States

1st Choice Delivery is a provider of mile delivery services in the central Midwest for pharmaceutical distributors, office product suppliers, and other time-sensitive commodities. 1st Choice Delivery was founded in 1989 and is based in St. Louis, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 Pipeworks, Inc.

Eugene, Oregon, United States

Pipeworks Studios is an independent studio specializing in advanced consumer and commercial games with innovative, “real world” scenarios for a diverse community of corporate partners. With high-tech projects ranging from Terraria to military simulations, Pipeworks expertly produces amazing game experiences and applications across a variety of industries, technologies, and platforms. Pipeworks Studios was founded in 1999 and is based in Eugene, Oregon.

Sell $100M
Buyer

DGB Investments

website


Category Family Office
SizeSmall
Type Sector Agnostic
DESCRIPTION

DGB Investments is a diversified holding company of high growth technology investments, founded and managed by Doug Bergeron, the former Chairman and CEO of VeriFone, Inc. DGB Investments is based in Palo Alto, California.


DEAL STATS #
Overall 1 of 1
Sector (Digital Media) 1 of 1
Type (Divestiture) 1 of 1
State (Oregon) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 Pipeworks, Inc.

Eugene, Oregon, United States

Pipeworks Studios is an independent studio specializing in advanced consumer and commercial games with innovative, “real world” scenarios for a diverse community of corporate partners. With high-tech projects ranging from Terraria to military simulations, Pipeworks expertly produces amazing game experiences and applications across a variety of industries, technologies, and platforms. Pipeworks Studios was founded in 1999 and is based in Eugene, Oregon.

Sell $100M
Buyer

St. Cloud Capital

Los Angeles, California, United States

website


Category Private Equity Firm
Founded 2001
PE ASSETS 530M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

St. Cloud Capital is an investment firm that invests in lower middle-market private and public companies. The Firm provides both debt and equity capital financing. St. Cloud targets well-managed, undervalued companies with successful products or services, proven technologies, and market niches. It looks to invest $3 to $20 million per transaction in companies with revenue of $10 to $150 million. Prospective transactions types include recapitalizations, buyouts, and growth capital financing. St Cloud Capital was formed in 2001 and is based in Los Angeles, California.


DEAL STATS #
Overall 27 of 33
Sector (Digital Media) 1 of 1
Type (Divestiture) 2 of 2
State (Oregon) 1 of 1
Country (United States) 27 of 33
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-13 STAT Health

Bay Shore, New York, United States

STAT Health is a Urgent care provider on Long Island with a network of 12 centers headed by board-certified Emergency Medicine physicians, and all with the same, clear mission: Delivering high-quality healthcare on your time and your terms – healthcare as it should be.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-29 COR Clearing LLC

Omaha, Nebraska, United States

COR Clearing LLC is a full-service, independent securities clearing firm servicing retail and online broker-dealers and registered investment advisers throughout the United States. COR Clearing is a registered broker-dealer in all 50 states and is regulated by FINRA, the SEC, and additional Self-Regulatory Organizations (SROs).

Sell -

Seller(S) 1

SELLER

Digital Bros S.p.A.

Milan, Italy

website


Category Company
Founded 1989
SectorDigital Media
Employees250
DESCRIPTION

Digital Bros S.p.A. is a global company that has been operating since 1989 as a developer, publisher and distributor of videogames through its brand 505 Games. The Group distributes its contents on both retail and digital channels. Digital Bros Group is active around the world through its own direct operations in Italy, the United States, the UK, France, Spain, Germany and China, with approximately 250 employees.


DEAL STATS #
Overall 1 of 1
Sector (Digital Media) 1 of 1
Type (Divestiture) 1 of 1
State (Oregon) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1