H.I.G. Capital to Acquire RBmedia from KKR

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H.I.G. Capital, a leading global investment firm, has announced its affiliate’s acquisition of RBmedia from KKR. RBmedia is the world’s leading audiobook publisher with a powerful digital distribution network that serves millions of listeners worldwide.

This acquisition represents a significant milestone for RBmedia and marks the next phase of its growth and development. Since KKR’s investment in 2018, RBmedia has achieved impressive results, doubling the size of its audiobook catalog to over 66,000 titles and experiencing five years of double-digit revenue growth. The company has also expanded its distribution channels, invested in diverse content, and made strides in international markets.

RBmedia’s Chief Executive Officer, Tom MacIsaac, expressed excitement about this new chapter and praised the partnership with KKR over the past five years. He also looks forward to working with H.I.G. to build on the foundation they have created.

Upon the closing of the transaction, all RBmedia employees will receive a cash payout based on their tenure with the company, with long-term employees earning up to two times their annual salary. This move reflects H.I.G.’s commitment to employee ownership and building wealth for employees.

Aaron Tolson, Managing Director at H.I.G., acknowledged the potential for significant growth and investment in the audiobook market and expressed enthusiasm for partnering with RBmedia’s management team to shape the digital media landscape.

The transaction is expected to close by the fourth quarter of 2023, subject to customary regulatory approvals.

RBmedia was advised by Goldman Sachs & Co. LLC and LionTree Advisors, with legal counsel from Simpson Thacher & Bartlett LLP. H.I.G. Capital received financial advice from Morgan Stanley & Co. LLC and RBC Capital Markets, and legal advice from Latham & Watkins LLP.

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