M&A Deal Summary

Redfin Acquires RentPath

On February 19, 2021, Redfin acquired digital media company RentPath from Providence Equity Partners and TPG for 608M USD

Acquisition Highlights
  • This is Redfin’s 1st transaction in the Digital Media sector.
  • This is Redfin’s largest (disclosed) transaction.
  • This is Redfin’s 1st transaction in the United States.
  • This is Redfin’s 1st transaction in Georgia.

M&A Deal Summary

Date 2021-02-19
Target RentPath
Sector Digital Media
Buyer(s) Redfin
Sellers(s) Providence Equity Partners
TPG
Deal Type Add-on Acquisition
Deal Value 608M USD

Target

RentPath

Norcross, Georgia, United States
website
RentPath, Inc. is a primary service is digital marketing for rental properties through a network of Internet listing websites, including Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com. RentPath was founded in 1975 and is based in Norcross, Georgia.

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Buyer(S) 1

Buyer

Redfin

Seattle, Washington, United States

website


Category Company
Founded 2002
Sector Consumer Services
Employees4,185
Revenue 886M USD (2020)
DESCRIPTION

Redfin is a technology-powered residential real estate brokerage. Redfin represents people buying and selling homes in over 80 markets throughout the United States. Redfin pairs its own agents with its own technology to create a service that costs less for consumers. Redfin meets customers through its listings-search website and mobile application, reducing the marketing costs that can keep fees high. Redfin was established in 2002 and is based in Seattle, Washington.


DEAL STATS #
Overall 1 of 2
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Georgia) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Bay Equity Home Loans

Corte Madera, California, United States

Bay Equity Home Loans is a national, full-service mortgage lender. Bay Equity Home Loans was founded in 2007 and is based in Corte Madera, California.

Buy $135M

Seller(S) 2

SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


DEAL STATS #
Overall 87 of 98
Sector (Digital Media) 2 of 2
Type (Add-on Acquisition) 38 of 40
State (Georgia) 2 of 2
Country (United States) 58 of 67
Year (2021) 1 of 9
Size (of disclosed) 25 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 Volia

Kyiv, Ukraine

Volia is a cable TV and broadband internet provider. Its network connects over 900,000 homes in Ukraine, serving over 700,000 RGUs in four cities within Ukraine: Kyiv, L’viv, Alchevsk, and Chernivtsy. Volia provides services such as analog cable TV, digital cable TV, high-speed cable Internet access, VoIP and data services. Volia was founded in 2002 and is based in Kyiv, Ukraine.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-03 Node4

Derby, United Kingdom

Node4 is a provider of integrated IT solutions, hybrid infrastructure, and cloud-enabled managed services to small and medium-sized businesses. Node4 was established in 2004 and is headquartered in Derby, England.

Buy -
SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 222 of 245
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 79 of 89
State (Georgia) 4 of 6
Country (United States) 162 of 182
Year (2021) 1 of 14
Size (of disclosed) 45 of 71
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 People2.0

King of Prussia, Pennsylvania, United States

People2.0 is a tech-enabled workforce deployment platform that provides employer of record/agent of record services and associated back-office support to staffing & recruiting firms, managed service providers, online recruitment platforms, recruitment process outsourcing, compliance service companies, and other talent acquisition service providers. People2.0 was founded in 2001 and is based in King of Prussia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-23 Gelson s Markets

Encino, California, United States

Gelson’s currently operates 27 full-service specialty grocery stores in Southern California. Each Gelson’s Market features the full amenities of a traditional supermarket, with the local flavor of a neighborhood market. Gelson's Markets was founded in 2013 and is based in Encino, California.

Sell -