Rockbridge Growth Equity Sells GSTV to MidOcean Partners

GSTV, a Video Network Available at Fuel and Convenience Retailers Nationwide, Completed Several Major Strategic Initiatives Under Rockbridge’s Sponsorship

Rockbridge Growth Equity (“Rockbridge”), a partnership-oriented middle market private equity firm with a differentiated approach to building and growing companies, announced that it has sold GSTV (or “the Company”) to MidOcean Partners. Rockbridge will retain a minority stake in GSTV, a video network available at fuel and convenience retailers nationwide. Financial terms of the transaction were not disclosed.

GSTV is a data-driven, national video platform entertaining targeted audiences at scale across 29,000+ fuel retailers. The Company helps drive immediate purchase decisions and creates lasting brand impressions for some of the world’s largest advertisers. Positioned at the intersection of high-growth DOOH, digital video, and retail media, GSTV is poised to accelerate into the future.

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“Through our partnership with the GSTV team, we successfully transformed the business to realize new opportunities in an evolving media landscape,” said Brian Hermelin, Managing Partner and co-founder of Rockbridge. “Rockbridge understood that advertisers need new channels to reach consumers, and GSTV has delivered a captive audience that we believe has more potential to grow. We look forward to supporting the GSTV and MidOcean teams as the Company embarks on its next chapter.”

Under Rockbridge’s sponsorship, GSTV completed several major strategic initiatives. These include recruiting key additions to the Company’s management team; scaling the sales and marketing teams; expanding analytics capabilities; completing a strategic merger; investing in programmatic capabilities; and diversifying revenue sources.

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“Rockbridge has been a strong partner to GSTV over the years, and we are proud of the accomplishments we achieved together,” said Sean McCaffrey, CEO of GSTV. “We are excited for the future and working together with MidOcean and Rockbridge on new initiatives.”

Moelis & Company LLC and Solomon Partners served as financial advisors to GSTV and Honigman served as legal advisor to Rockbridge and GSTV. Gibson Dunn was legal advisor to MidOcean.

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Source – PR Newswire

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