TCG Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, TCG has acquired 1 company. It has also invested in 5 others.

TCG’s most common sectors for investment areconsumer products (29%) and internet software and services (22%) . The Firm’s most common investment types include growth capital (58%) and stake purchase (22%). In total, TCG has invested in 5 US states.

In the last 3 years, TCG has exited 2 companies. The Firm’s most common exit type is trade sale (100%). TCG’s largest (disclosed) exit occurred in 2023 when it sold Scopely for $4.9B.

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M&A Summary

  • M&A Total Activity17
    • M&A Buy Activity14
    • M&A Sell Activity3
  • Total Sectors Invested 6
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 4
  • M&A Advisors 1

TCG

TCG Capital Management, LP

Playa Vista, California
United States
www.tcg.co
info@tcg.co

TCG (The Chernin Group) is a private investment firm focused on majority and minority investments in growing consumer businesses. Specific areas of interest include digital media, commerce, marketplaces, sports, gaming, consumer finance, and health/wellness. The Firm is a long-term investor and looks to work alongside companies to help build lasting value. TCG was originally formed in 2010 and is headquartered in Playa Vista, California.


Investment Criteria

Sectors of Interest: Consumer Products, Consumer Services, Digital Media, Education, Financial Services, Healthcare Services, Internet Software and Services, Media

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.6/yr) # 6 2 2 3 1 - 14
Sell (0.6/yr) # - 1 1 - 1 - 3
vol $500M $240M $4.9B $5.6B
  17

Most Recent M&A

Company Date Value Type
Scopely, Inc. 2023-04-06 4.9B USD Trade Sale
Culver City, California · www.scopely.com
Cars and Bids LLC 2023-01-31 - Growth Capital
San Diego, California · www.carsandbids.com
Funko, Inc. 2022-05-05 - Stake Purchase
Everett, Washington · www.funko.com
Stoggles, Inc. 2022-02-02 - Growth Capital
Paramount, California · www.stoggles.com
Epic Gardening 2022-01-25 - Growth Capital
San Diego, California · www.epicgardening.com
Action Network, Inc. 2021-05-03 240M USD Trade Sale
Playa Vista, California · www.actionnetwork.com
Goldin Auctions 2021-02-16 - Growth Capital
Runnemede, New Jersey · www.goldinauctions.com
Baobab Studios, Inc. 2021-01-01 - Buyout (LBO, MBO, MBI)
Redwood City, California · www.baobabstudios.com
Surfline/Wavetrak, Inc. 2020-12-01 - Growth Capital
Huntington Beach, California · www.surfline.com
Sketchy Group LLC 2020-09-24 - Growth Capital
San Francisco, California · www.sketchy.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 4 (36%) - 4 (29%) -
Internet Software and Services 3 (27%) - 3 (21%) -
Digital Media - - 2 (14%) -
Education 2 (18%) - 2 (14%) -
Media 2 (18%) - 2 (14%) -
Gaming - - 1 (7%) -
Total 11 - 14 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (100%) - 14 (100%) -
  California 7 (64%) - 9 (64%) -
  New York 1 (9%) - 2 (14%) -
  Washington 1 (9%) - 1 (7%) -
  New Jersey 1 (9%) - 1 (7%) -
  Montana 1 (9%) - 1 (7%) -
Total 11 - 14 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 8 (73%) - 8 (57%) -
Stake Purchase 2 (18%) - 3 (21%) -
Buyout (LBO, MBO, MBI) 1 (9%) - 2 (14%) -
Venture - - 1 (7%) -
Total 11 - 14 -

Exits by Deal Type

Type Total # Value
Trade Sale 2 (67%) 5.1B (91%)
Trade Sale - Public Company 1 (33%) 500M (9%)
Total 3 $5.6B

Top M&A Advisors

Legal Deals
Gibson, Dunn & Crutcher
 2

Deal Values

sell # Total
> $1B 1 $4.9B
$100M to $1B 2 $740M
TOTAL $5.6B
Largest Scopely, Inc.
$4.9B (2023-04-06)

M&A Connections

Deals
Exited to
Strategic(s)
100%
3 (100%)

Investor Summary

Investor Type

Private Equity Firm

Size

Small

Established

2010

Specialist/Generalist

Specialist

Leadership

Jesse Jacobs

Co-Founder & Partner

Mike Kerns

Co-founder & Partner

Peter Chernin

Co-founder & Partner

Mark Kamal

CFO

Greg Bettinelli

Partner

FAQ

When was TCG founded?

TCG was founded in 2010.

What type of investor is TCG?

TCG is a private equity firm.

Where is TCG headquartered?

TCG is headquartered in Playa Vista, California.

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