Rockbridge Growth Equity supports Gas Station TV MBO


petrol-pump_lrgUS private equity firm Rockbridge Growth Equity has agreed to back the MBO of media network Gas Station TV.

The company provides content from ESPN, CNN Headline News, Bloomberg TV and AccuWeather at fuel stations across the US.

Other investors include Falcon Investments and Michigan Growth Capital Partners, which is co-managed by Grosvenor Capital Management and Beringea.

The deal is expected to close in the coming weeks pending regulatory approval.

Rockbridge was founded in 2007 by partners Brian Hermelin, Kevin Prokop and Dan Gilbert, who is also founder and chairman of Rock Ventures and Quicken Loans.

The firm invests in companies which specialise in financial and technology services, as well as digital media and consumer-direct marketing.

Prokop said, “Investing in an industry-leading and growing company like GSTV is a natural fit for Rockbridge.

“GSTV’s management team have proven video at the pump to be a successful media growth category, and GSTV has emerged as the clear leader in the space.”

Gas Station TV has increased its revenues by 35 per cent annually since 2009.

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