Francisco Partners, a a global private investment firm specialising in technology and media-focused businesses, has partnered with HIG Capital to complete the acquisition of RBmedia, in conjunction with the firm’s management, from KKR.
HIG and Francisco Partners will support RBmedia, one of the world’s leading audiobook publishers, in the continued growth of its catalogue of spoken content and distribution network.
Founded in 1979 and headquartered in Landover, Maryland, RBmedia’s catalogue of over 66,000 titles is available through more than 50 digital listening platforms, including Audible, Spotify, Apple, Google Play, Scribd, Storytel, OverDrive, and Hoopla. Over the last five years, the company has doubled its catalogue of content to deliver diverse options to its listeners.
Morgan Stanley & Co LLC, RBC Capital Markets, and Barclays acted as financial advisors. Kirkland & Ellis LLP provided legal advice to Francisco Partners and Latham & Watkins LLP provided legal advice to HIG Capital.