Stripes Group Mergers and Acquisitions Summary

Private Equity Profile

Stripes Group’s most common sectors for investment are internet software and services (42%) and e-commerce (14%). The Firm’s most common investment types include venture (45%) and growth capital (28%). In total, Stripes Group has invested in 8 US states and 3 different countries.

In the last 3 years, Stripes Group has exited 6 companies. The Firm’s most common exit type is trade sale (50%). Stripes Group’s largest (disclosed) exit occurred in 2019 when it sold Refinery29 for $400M.

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M&A Summary

  • M&A Total Activity45
    • M&A Buy Activity29
    • M&A Sell Activity16
  • Total Sectors Invested 11
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 20
  • M&A Advisors 1

Stripes Group

402 West 13th Street,
New York, New York 10014
United States
(212) 823-0720
www.stripesgroup.com
info@stripesgroup.com

Stripes Group is a private investment firm focused primarily on making minority investments in rapidly growing, private companies. Stripes looks to commit $10 to $150 million of equity capital per transaction to support acquisitions, growth equity needs, and provide shareholder liquidity. Target companies generally have high margins and operate in large markets. Sectors of interest include branded consumer products, financial services, medical devices, and technology. Stripes is formed in 2003 and is based in New York City.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Beverages, Consumer Products, Consumer Services, E-Commerce, Electrical Equipment, Electronics, Food, Healthcare Services, Information Technology, Internet Software and Services, Life Science, Marketing, Medical Products, Retail, Software

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 10 150
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.0/yr) # 29 - - - - - 29
Sell (1.6/yr) # 8 2 3 3 - - 16
vol $520M $400M $920M
  45

Most Recent M&A

Company Date Value Type
Refinery29, Inc. 2019-10-02 400M USD Add-on Acquisition
New York, New York · www.refinery29.com
Sandata Technologies LLC 2019-07-24 - Stake Purchase
Port Washington, New York · www.sandata.com
Reformation 2019-07-10 - Secondary Buyout
Los Angeles, California · www.thereformation.com
Art.com, Inc. 2018-12-07 - Add-on Acquisition
Emeryville, California · www.art.com
Turtle Beach Corp. 2018-06-21 - IPO
San Diego, California · www.corp.turtlebeach.com
Ketra, Inc. 2018-04-17 - Add-on Acquisition
Austin, Texas · www.ketra.com
Blue Apron, Inc. 2017-06-29 - IPO
New York, New York · www.blueapron.com
Craftsy 2017-05-10 - Add-on Acquisition
Denver, Colorado · www.craftsy.com
Snooze 2016-12-05 - Secondary Buyout
Denver, Colorado · www.snoozeeatery.com
eMarketer, Inc. 2016-06-10 - Add-on Acquisition
New York, New York · www.emarketer.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 6 (50%) - 12 (41%) -
E-Commerce 1 (8%) - 4 (14%) -
Marketing - - 3 (10%) -
Apparel/Textiles 1 (8%) - 2 (7%) -
Information Technology 1 (8%) - 2 (7%) -
Beverages 1 (8%) - 1 (3%) -
Digital Media - - 1 (3%) -
Electrical Equipment - - 1 (3%) -
Food 1 (8%) - 1 (3%) -
Restaurants 1 (8%) - 1 (3%) -
Technology Hardware - - 1 (3%) -
Total 12 - 29 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (83%) - 27 (93%) -
  California 5 (42%) - 9 (31%) -
  New York 2 (17%) - 9 (31%) -
  Colorado 1 (8%) - 4 (14%) -
  Wisconsin 1 (8%) - 1 (3%) -
  New Jersey 1 (8%) - 1 (3%) -
  Vermont - - 1 (3%) -
  Texas - - 1 (3%) -
  Connecticut - - 1 (3%) -
United Kingdom 1 (8%) - 1 (3%) -
Germany 1 (8%) - 1 (3%) -
Domestic 10 (83%) - 27 (93%) -
Cross-border 2 (17%) - 2 (7%) -
Total 12 - 29 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 6 (50%) - 13 (45%) -
Growth Capital 3 (25%) - 8 (28%) -
Buyout (LBO, MBO, MBI) 1 (8%) - 4 (14%) -
Stake Purchase 1 (8%) - 2 (7%) -
Recapitalization - - 1 (3%) -
Secondary Buyout 1 (8%) - 1 (3%) -
Total 12 - 29 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 5 (31%) 520M (56%)
Trade Sale 3 (19%) 400M (44%)
IPO 2 (13%) -
Merger 2 (13%) -
Secondary Sale 2 (13%) -
Shut Down 1 (6%) -
Stake Sale 1 (6%) -
Total 16 $920M

Top M&A Advisors

Legal Deals
Dechert LLP
 1

Deal Values

sell # Total
$100M to $1B 3 $838M
< $100M 1 $82M
TOTAL $920M
Largest Refinery29, Inc.
$400M (2019-10-02)

M&A Connections

Deals
Acquired from
Investor(s)
3%
1 (3%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
19%
3 (19%)
Strategic(s)
63%
10 (63%)

Investor Summary

Size

Small

Established

2003

Specialist/Generalist

Generalist

Leadership

Ken Fox

Founder & Managing Partner

Dan Marriott

Managing Partner

Karen Kenworthy

Partner

Ron Shah

Partner

David Swinghamer

Operating Partner

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