The Raine Group Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, The Raine Group has invested in 2 companies.

The Raine Group’s most common sectors for investment are internet software and services (29%) and media (29%). The Firm’s most common investment types include growth capital (50%) and venture (22%). In total, The Raine Group has invested in 5 US states and 3 different countries.

In the last 3 years, The Raine Group has exited 1 company. The Firm’s most common exit type is trade sale (40%). The Raine Group’s largest (disclosed) exit occurred in 2016 when it sold Jagex for $300M.

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M&A Summary

  • M&A Total Activity19
    • M&A Buy Activity14
    • M&A Sell Activity5
  • Total Sectors Invested 8
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 8
  • M&A Advisors 3

The Raine Group

810 Seventh Avenue, 39th 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, 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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.4/yr) # 12 - - 1 1 - 14
Sell (0.6/yr) # 2 1 1 - 1 - 5
vol $300M $300M
  19

Most Recent M&A

Company Date Value Type
DraftKings, Inc. 2019-12-23 - Merger
Boston, Massachusetts · www.draftkings.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, Inc. 2017-06-19 - Stake Purchase
Brooklyn, New York · www.vice.com
Jagex Ltd. 2016-03-15 300M USD Add-on Acquisition
Cambridge, United Kingdom · www.jagex.com
C3 Presents LLC 2014-12-19 - Stake Purchase
Austin, Texas · www.c3presents.com
Olo 2014-10-27 - Growth Capital
New York, New York · www.olo.com
DraftKings, Inc. 2014-08-25 - Venture
Boston, Massachusetts · www.draftkings.com
Margaritaville Enterprises LLC 2014-07-30 - Stake Purchase
Orlando, Florida · www.margaritaville.com
OpenSky Corp. 2014-01-10 - Add-on Acquisition
New York, New York · www.opensky.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 3 (30%) - 4 (29%) -
Media 3 (30%) - 4 (29%) -
Apparel/Textiles 1 (10%) - 1 (7%) -
Communications 1 (10%) - 1 (7%) -
Digital Media - - 1 (7%) -
Gaming - - 1 (7%) -
Healthcare Services 1 (10%) - 1 (7%) -
Software 1 (10%) - 1 (7%) -
Total 10 - 14 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 9 (90%) - 12 (86%) -
  New York 2 (20%) - 4 (29%) -
  Florida 3 (30%) - 3 (21%) -
  California 3 (30%) - 3 (21%) -
  Arizona 1 (10%) - 1 (7%) -
  Massachusetts - - 1 (7%) -
Australia 1 (10%) - 1 (7%) -
United Kingdom - - 1 (7%) -
Domestic 9 (90%) - 12 (86%) -
Cross-border 1 (10%) - 2 (14%) -
Total 10 - 14 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 5 (50%) - 7 (50%) -
Venture 2 (20%) - 3 (21%) -
Stake Purchase 2 (20%) - 2 (14%) -
Joint Venture - - 1 (7%) -
Secondary Buyout 1 (10%) - 1 (7%) -
Total 10 - 14 -

Exits by Deal Type

Type Total # Value
Trade Sale 2 (40%) 300M (100%)
Stake Sale 2 (40%) -
Merger 1 (20%) -
Total 5 $300M

Top M&A Advisors

Financial Deals
The Raine Group LLC
1
Legal Deals
Sullivan & Cromwell LLP
1
Johnson Winter & Slattery
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
PE Firm(s)
100%
1 100%
Exited to
PE Firm(s)
25%
1 25%
Strategic(s)
75%
3 75%

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