Thursday December 7, 2023

$700M Payday

Jake Peavy Cards
Thomas Hawthorne-Arizona Republic via
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Collectors Universe has been acquired by an investor group led by entrepreneur and sports card collector Nat Turner for roughly $700 million. Other investors include D1 Capital Partners, led by Charlotte Hornets minority owner Dan Sundheim, and Cohen Private Ventures, the family office of New York Mets owner Steven Cohen.

The investor group will acquire all of Collectors Universe’s outstanding shares of common stock for $75.25 per share in cash. The deal comes with a premium of about 30% over the company’s volume-weighted average price over the last two months.

Collectors Universe is the parent company of Professional Sports Authenticators, which has certified over 40 million cards and collections with a cumulative value exceeding $1 billion since launching in 1991.

Industry Overview

Collectors Universe is just one of the benefactors of a now-booming trading card and memorabilia industry in 2020. 

  • Earlier this year, a Mike Trout rookie card sold for a record $3.93 million, while other cards have also sold at all-time highs.
  • On eBay, sales in the sports card category were up 92% year-over-year from March to May. 
  • Fractional ownership apps like Rally and Collectable have popped up to allow everyday investors to buy a piece of expensive, one-of-a-kind items. 

Collectors Universe Pandemic Growth

  • $30.8 million in revenue in its most recent quarter, up 52% year-over-year.
  • $7.8 million in operating income, an increase of 25%.
  • 130% jump in cards and autographs revenue, to $18.6 million.
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