Rockbridge Growth Equity Sells GSTV to MidOcean Partners

Malaysian Reserve

22-04-2025

GSTV, a Video Network Available at Fuel and Convenience Retailers Nationwide, Completed Several Major Strategic Initiatives Under Rockbridge's Sponsorship
DETROIT, April 21, 2025 /PRNewswire/ — Rockbridge Growth Equity ('Rockbridge'), a partnership-oriented middle market private equity firm with a differentiated approach to building and growing companies, announced today 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.
'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 today's 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.
'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.
ABOUT GSTV GSTV is America's most engaging, on-the-go video network. GSTV is a data-driven, national video platform entertaining targeted audiences at scale across tens of thousands of fuel retailers. Reaching 45% of adults monthly, GSTV engages viewers at an essential waypoint of their consumer journey, and GSTV is the only consolidated and scaled digital media platform in the convenience and fuel channel. While offering consumers entertaining and informative content, GSTV drives immediate action and creates lasting brand impressions, delivering measurable results, in-store conversions, and incremental sales for retailers and advertisers. Visit gstv.com for more information and follow us on Facebook, Instagram, LinkedIn and X (Twitter).
About Rockbridge Growth Equity Founded in 2007, Rockbridge Growth Equity is a middle market private equity firm committed to helping both founder-operated and established companies accelerate growth and build long-term, sustainable value. Rockbridge combines the flexibility of a financial sponsor with the benefits of a strategic partnership by leveraging the firm's relationship with the Rock Family of Companies, which provides access to industry and functional expertise. As of year-end 2024, Rockbridge has regulatory assets under management of over $1.7 billion across its target sectors: e-Commerce and Marketing Services, Financial Services and Fintech, Tech-Enabled Products and Services, and Digital Media. For more information, please visit www.rbequity.com.
About MidOcean MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity, structured capital, and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts. For more information, please visit: https://www.midoceanpartners.com/
MEDIA CONTACT FOR ROCKBRIDGE:
Lambert Jennifer Hurson[email protected] or Caroline Luz [email protected]