From the WireNewsPublishers Weekly

With a Twist, Sale of RBmedia Completed

The sale of audiobook publisher RBmedia has been successfully completed by private equity firm KKR. The company was sold to investment firm H.I.G. Capital and private equity firm Francisco Partners in a deal worth more than $1 billion. With the completion of the transaction, H.I.G. and Francisco Partners are set to support RBmedia in expanding its extensive audiobook catalog and distribution network, which reaches millions of listeners globally. This acquisition is a significant move for H.I.G. and Francisco Partners, as they further establish their presence in the book publishing market. RBmedia, with its vast collection of audiobook titles and a history of double-digit revenue growth, presents immense opportunities for growth in the booming audiobook industry.

With a Twist, Sale of RBmedia Completed

This image is property of images.pexels.com.

Sale of RBmedia Completed

The private equity firm KKR has successfully completed the sale of audiobook publisher RBmedia to investment firm H.I.G. Capital and private equity firm Francisco Partners. This sale marks an important milestone in RBmedia’s growth and development.

Private equity firm KKR completes sale to H.I.G. Capital and Francisco Partners

After months of negotiations, KKR has finalized the sale of RBmedia to H.I.G. Capital and Francisco Partners. The sale price was reported to be over $1 billion, making it a significant transaction in the audiobook industry. Both H.I.G. Capital and Francisco Partners are well-respected investment firms with a strong track record in supporting the growth of companies in the media and technology sectors.

With a Twist, Sale of RBmedia Completed

This image is property of images.pexels.com.

Agreement reached in July

The agreement for the sale of RBmedia was reached in July, signaling KKR’s intention to divest its ownership of the company. This decision was made to allow RBmedia to find new partners who could provide the necessary resources and support for its continued growth. The details of the agreement were not initially disclosed but were later reported by the Wall Street Journal to be in excess of $1 billion.

H.I.G. Capital and Francisco Partners finalize deal

H.I.G. Capital and Francisco Partners have now officially completed the acquisition of RBmedia. As part of the transaction, H.I.G. Capital and Francisco Partners will work together to provide ongoing support for RBmedia’s growth and expansion. This partnership brings together two experienced investment firms with a shared commitment to driving the success of RBmedia and the broader audiobook industry.

With a Twist, Sale of RBmedia Completed

This image is property of images.pexels.com.

Support for RBmedia’s growth

H.I.G. Capital and Francisco Partners are fully committed to supporting RBmedia’s growth and development. They recognize the tremendous potential of the audiobook industry and the unique position that RBmedia occupies within it. With their investment, H.I.G. Capital and Francisco Partners aim to fuel the next phase of RBmedia’s growth and enhance its already vast catalog of spoken content and powerful distribution network.

Francisco Partners’ presence in the book publishing market

Francisco Partners has already established a strong presence in the book publishing market through its acquisition of Vital Source from Ingram Content Group and Follett School Solutions from the Follett Corp. These acquisitions have positioned Francisco Partners as a leading player in the industry, with expertise in audio and content publishing, technology, and media. The addition of RBmedia aligns perfectly with Francisco Partners’ strategic objectives and further strengthens its foothold in the growing audiobook market.

With a Twist, Sale of RBmedia Completed

This image is property of images.unsplash.com.

Excitement over audiobook industry growth

Both H.I.G. Capital and Francisco Partners are excited about the growth potential of the audiobook industry. With the rise of digital platforms and the increasing popularity of audiobooks, the industry is experiencing a positive trajectory. Many consumers are turning to audiobooks as a convenient and immersive way to enjoy books, and the market outlook is highly favorable. H.I.G. Capital and Francisco Partners firmly believe that RBmedia is well-positioned to capitalize on this trend and achieve substantial growth in the coming years.

RBmedia’s audiobook titles and employees

RBmedia has an extensive catalog of spoken content, boasting over 66,000 audiobook titles. This impressive collection caters to a wide range of genres and interests, ensuring that there is something for every listener. In addition, RBmedia has a dedicated workforce of more than 300 employees who are passionate about creating and delivering high-quality audiobooks to audiences worldwide.

With a Twist, Sale of RBmedia Completed

This image is property of images.unsplash.com.

Double-digit revenue growth under KKR ownership

During KKR’s ownership of RBmedia, the company achieved remarkable financial success. With double-digit revenue growth year after year, RBmedia has demonstrated its ability to thrive in a highly competitive market. KKR’s expertise and strategic guidance have played a significant role in positioning RBmedia as a leading player in the audiobook industry. This successful track record makes RBmedia an attractive investment opportunity for H.I.G. Capital and Francisco Partners, who are eager to contribute to the company’s future growth and prosperity.

Conclusion

The completion of the sale of RBmedia to H.I.G. Capital and Francisco Partners marks a significant milestone in the company’s journey. With the support and resources of these experienced investment firms, RBmedia is well-positioned to continue its upward trajectory in the rapidly growing audiobook industry. The extensive catalog of audiobook titles, dedicated employees, and double-digit revenue growth under KKR ownership all contribute to RBmedia’s strong market position and potential for further expansion. Excitement abounds for the future of RBmedia and the continued success of the audiobook industry as a whole.

Source: http://www.publishersweekly.com/pw/by-topic/industry-news/industry-deals/article/93205-with-a-twist-sale-of-rbmedia-completed.html