M&A Deal Summary

Raine Acquires Code Advisors

On April 5, 2023, merchant bank Raine acquired financial services company Code Advisors

Acquisition Highlights
  • This is Raine’s 1st transaction in the Financial Services sector.
  • This is Raine’s 13th transaction in the United States.
  • This is Raine’s 4th transaction in California.

M&A Deal Summary
Date 2023-04-05
Target Code Advisors
Sector Financial Services
Buyer(s) Raine
Deal Type Buyout (LBO, MBO, MBI)

Target

Code Advisors

San Francisco, California, United States
Code Advisors is an independent merchant bank specializing in M&A and capital raising for technology and media companies. It manages assets from equity earned from advisory services, direct investing in select early-stage companies, and LP investing in venture funds. Notable Code Advisors clients include Twitter, Spotify, Vox and Warner Bros Discovery. Code Advisors is based in San Francisco, California.

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Buyer(S) 1

Buyer

Raine

New York, New York, United States

Investor Investor Investor Investor Investor

Category Merchant Bank
Founded 2009
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

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.

DEAL STATS #
Overall 15 of 16
Sector (Financial Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (California) 4 of 4
Country (United States) 13 of 14
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-19 Thrill One Sports & Entertainment

Costa Mesa, California, United States

Thrill One Sports & Entertainment is a content company that lives at the nexus of sports, entertainment, and lifestyle, combining the resources of Nitro Circus, Street League Skateboarding (SLS), Nitro Rallycross (NRX), and Thrill One Media. The company is dedicated to creating mind-blowing action sports events and original content, fueled by the most daring athletes, talent, and brands in thrill-based entertainment. Thrill One Sports & Entertainment was formed in 2020 and is based in Costa Mesa, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-24 DUPR

Austin, Texas, United States

DUPR has established itself as the global standard in pickleball ratings. DUPR provides players across all levels with an ageless, genderless rating based on their match results to equip the emerging sport with a simple language and standard to gauge player ability.

Buy -
Mergr

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