Fanatics has raised another $320 million from its investors, bringing its valuation to $12.8 billion.
Silver Lake, together with Fidelity, Neuberger Berman, Franklin Templeton, Thrive Capital, Blackstone and Major League Baseball, leads the latest funding round, according to Retail Dive.
Fanatics plans to use the funds for mergers and acquisitions, international expansion and other business opportunities, and scale up its vertical model of e-commerce and acquire more licensing rights.
Fanatics is continuing to grow. In September, Fanatics expanded with the acquisition of Vetta Brands. They also expanded partnerships with Paris Saint-Germain, Nike and the NFL.