Rockbridge Growth Equity, a partnership-oriented middle market private equity firm, has sold GSTV, a video network available at fuel and convenience retailers nationwide, to MidOcean Partners. Rockbridge will retain a minority stake in GSTV.
Financial terms of the transaction have not been disclosed.
GSTV is a data-driven, national video platform entertaining targeted audiences at scale across 29,000+ fuel retailers. Under Rockbridge’s sponsorship, the business has completed several major strategic initiatives, including recruiting key additions to the management team; scaling the sales and marketing teams; expanding analytics capabilities; completing a strategic merger; investing in programmatic capabilities; and diversifying revenue sources.
Moelis & Company 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.
