M&A Deal Summary

Sumo Group Acquires Pipeworks

On September 30, 2020, Sumo Group plc acquired digital media company Pipeworks, Inc. from Northern Pacific Group, DGB Investments and St. Cloud Capital for 100M USD

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

M&A Deal Summary

Date 2020-09-30
Target Pipeworks, Inc.
Sector Digital Media
Buyer(s) Sumo Group plc
Sellers(s) Northern Pacific Group
DGB Investments
St. Cloud Capital
Deal Type Add-on Acquisition
Deal Value 100M USD
Advisor(s) Jefferies LLC (Financial)

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) 1

Buyer

Sumo Group plc

Sheffield, United Kingdom

website


Category Company
Founded 2003
SectorDigital Media
Employees869
Revenue 69M GBP (2020)
DESCRIPTION

Sumo Group provides acclaimed development and design services to the video games and entertainment industries from studios in the UK, India, Canada and the US. Sumo Group was founded in 2003 and is based in Sheffield, the United Kingdom.


DEAL STATS #
Overall 1 of 1
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Oregon) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 3

SELLER

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 1 of 1
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Oregon) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-23 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.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 L2 Solutions

Houston, Texas, United States

L2 Solutions is a vertically-integrated Space Systems and Space Applications company with a proven path to orbit that can provide a complete and ever-expanded picture of what is happening anywhere at any time. They leverage their turnkey solutions to engineer, design, build, manifest, launch, deploy, and operate spacecraft while providing a scalable, predictive, and comprehensive deep-learning platform.

Buy -
SELLER

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 (Add-on Acquisition) 1 of 1
State (Oregon) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-23 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.

Buy $20M
SELLER

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 12 of 13
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (Oregon) 1 of 1
Country (United States) 12 of 13
Year (2020) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 AMP Smart

American Fork, Utah, United States

AMP Smart is a residential security and smart home company that currently operates in 21 U.S. states, from California to New York. The company connects clients with their home using Smart products and services to make life easier and safer. AMP was founded in 2008 and is based in American Fork, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 Lash OpCo LLC (LashCo)

Houston, Texas, United States

Lash OpCo LLC (LashCo) is a platform of branded beauty products focused on the eye, selling both direct-to-consumer on its website and wholesale through prestige beauty retailers worldwide.

Buy -