Raine Mergers and Acquisitions Summary

Merchant Bank Profile

In the last 3 years, Raine has acquired 1 company. It has also invested in 1 other.

Raine’s most common sectors for investment areinternet software and services (25%) and media (25%) . The Firm’s most common investment types include growth capital (50%) and stake purchase (19%). In total, Raine has invested in 6 US states and 3 different countries.

In the last 3 years, Raine has exited 2 companies. The Firm’s most common exit type is trade sale (25%). Raine’s largest (disclosed) exit occurred in 2016 when it sold Jagex for $300M.

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M&A Summary

  • M&A Total Activity23
    • M&A Buy Activity16
    • M&A Sell Activity7
  • Total Sectors Invested 10
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 10
  • M&A Advisors 4

Raine

The Raine Group LLC

65 East 55th Street, 24th Floor,
New York, New York 10019
United States
(212) 603-5500
www.raine.com

The Raine Group is a global merchant bank focused on advising and investing in businesses operating in the digital, media & entertainment and sports & lifestyle sectors. Raine's investment arm looks to invest $5 to $80 million per transaction. The Raine Group was formed in 2009 and is based in New York City.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Consumer Services, Digital Media, Information Services, Information Technology, Internet Software and Services, Media, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 5 80
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 14 - - - 1 1 16
Sell (0.6/yr) # 5 1 1 1 - - 8
vol $300M $300M
  24

Most Recent M&A

Company Date Value Type
DUPR 2024-01-24 - Stake Purchase
Austin, Texas · www.mydupr.com
Code Advisors LLC 2023-04-05 - Buyout (LBO, MBO, MBI)
San Francisco, California · www.codeadvisors.com
Thrill One Sports & Entertainment 2022-07-19 - Secondary Sale
Costa Mesa, California · www.thrillone.com
Olo, Inc. 2021-03-16 - IPO
New York, New York · www.olo.com
Parchment LLC 2020-02-11 - Unknown
Scottsdale, Arizona · www.parchment.com
Foursquare Labs, Inc. 2019-05-30 - Growth Capital
New York, New York · www.foursquare.com
Propagate Content 2018-01-16 - Growth Capital
Los Angeles, California · www.propagatecontent.com
Vice Media Group 2017-06-19 - Stake Sale
Brooklyn, New York · www.vice.com
Jagex Ltd. 2016-03-15 300M USD Trade Sale
Cambridge, United Kingdom · www.jagex.com
C3 Presents LLC 2014-12-19 - Stake Sale
Austin, Texas · www.c3presents.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 1 (13%) - 4 (25%) -
Media 3 (38%) - 4 (25%) -
Apparel/Textiles 1 (13%) - 1 (6%) -
Communications - - 1 (6%) -
Consumer Services 1 (13%) - 1 (6%) -
Digital Media - - 1 (6%) -
Financial Services 1 (13%) - 1 (6%) -
Gaming - - 1 (6%) -
Information Services 1 (13%) - 1 (6%) -
Staffing - - 1 (6%) -
Total 8 - 16 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (88%) - 14 (88%) -
  California 3 (38%) - 4 (25%) -
  New York 1 (13%) - 4 (25%) -
  Florida 2 (25%) - 3 (19%) -
  Texas 1 (13%) - 1 (6%) -
  Massachusetts - - 1 (6%) -
  Arizona - - 1 (6%) -
Australia 1 (13%) - 1 (6%) -
United Kingdom - - 1 (6%) -
Domestic 7 (88%) - 14 (88%) -
Cross-border 1 (13%) - 2 (13%) -
Total 8 - 16 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 4 (50%) - 8 (50%) -
Stake Purchase 3 (38%) - 3 (19%) -
Venture - - 2 (13%) -
Buyout (LBO, MBO, MBI) 1 (13%) - 1 (6%) -
Joint Venture - - 1 (6%) -
Secondary Buyout - - 1 (6%) -
Total 8 - 16 -

Exits by Deal Type

Type Total # Value
Trade Sale 2 (25%) 300M (100%)
Stake Sale 2 (25%) -
IPO 1 (13%) -
Secondary Sale 1 (13%) -
SPAC 1 (13%) -
Unknown 1 (13%) -
Total 8 $300M

Top M&A Advisors

Financial Deals
The Raine Group LLC
1
Legal Deals
Johnson Winter & Slattery
1
Sullivan & Cromwell
1
Sidley
1

Deal Values

sell # Total
$100M to $1B 1 $300M
TOTAL $300M
Largest Jagex Ltd.
$300M (2016-03-15)

M&A Connections

Deals
Acquired from
Investor(s)
6%
1 (6%)
Exited to
Investor(s)
25%
2 (25%)
Strategic(s)
38%
3 (38%)

FAQ

When was Raine founded?

Raine was founded in 2009.

What type of investor is Raine?

Raine is a merchant bank.

Where is Raine headquartered?

Raine is headquartered in New York, New York.

How much capital does Raine have under management?

Raine has 2.5B USD under management.

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