DETROIT — Rockbridge Growth Equity LLC Thursday announced it has acquired Tampa-based online retail advertising company Triad Retail Media.
Boston-based Falcon Investment Advisors partnered with Rockbridge on the transaction.
Rockbridge Growth Equity is a Detroit-based private equity firm founded in 2007 by Brian Hermelin, Kevin Prokop and Quicken Loans and Rock Ventures Founder and Chairman Dan Gilbert. Rockbridge invests in business and technology services companies focused on the digital media, marketing services, financial and business services and consumer-direct marketing sectors.
Founded in 2004, Triad Retail Media creates, manages and operates digital retail media programs for highly trafficked retail Websites. Triad’s retail partners include Walmart, Sam’s Club, eBay, Toys “R” Us, CVS, and many other leading retailers.
Triad was twice named one of the fastest-growing private companies in the United States by Inc. magazine. Triad employs more than 300 team members in more than six offices in the United States, including Tampa, Fla. (headquarters); Orlando; Rogers, Ark.; Chicago; New York; and San Jose.
Said Greg Murtagh, CEO and founder of Triad Retail Media: “Rockbridge has a deep operating knowledge in digital media and data and analytics, combined with expertise in technology and marketing services, providing a perfect opportunity to accelerate Triad’s already strong growth.”
And Prokop added: “Investing in another high-tech, emergent company like Triad Retail Media was a perfect opportunity for Rockbridge … Triad can benefit from our family of more than 60 diverse companies, from Quicken Loans to Fathead to the Cleveland Cavaliers. We can also benefit from Triad’s extensive online expertise of converting shoppers into buyers.”
Rockbridge seeks to make investments in companies with enterprise values in the range of $100 million to $200 million. Rockbridge currently has investments in Purchasing Power, Connect America, Account Now, Protect America, Northcentral University, and is affiliated with other leading businesses in the Rock Ventures family of companies in its target sectors, including Quicken Loans, the Cleveland Cavaliers, Title Source and Fathead. For details, visit www.rbequity.com.
Falcon Investment Advisors, LLC is a private equity firm with offices in Boston and New York, specializing in subordinated debt and other junior capital investments. Falcon provides innovative capital solutions in amounts of $10 million to $75 million to middle market companies in a variety of industries throughout North America. Since its founding in 2000, Falcon has raised $1.7 billion and invested in over 50 companies in a broad range of industries to support acquisitions, recapitalizations, buyouts and organic growth.
Triad was previously owned by Murtagh, president and COO Roger Berdusco and an affiliate of H.I.G Growth Partners. Following the transaction, Murtagh and Berdusco will remain in their current positions as CEO and COO of Triad, and will also continue to be equity partners with Rockbridge.