Global Alternative Investment Firm H.I.G. Capital to Acquire RBmedia

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KKR and H.I.G. Capital has recently made an announcement that it is an affiliate of H.I.G. will acquire RBmedia and handle their next growth and development, according to Business Wire. This came after the news of KKR selling RBmedia flourished across the internet. With more than 60,000 exclusive audiobooks and 8000 new titles published every year, RBmedia is the largest audiobook publisher in the world, headquartered in Landover, Maryland. Their titles are available on leading platforms like Audible, Spotify and Apple, ensuring a widespread digital retail and library distribution network reaching millions of listeners.

Speaking about the acquisition, RBmedia CEO Tom MacIsaac said how this marks a milestone of achievement for the company and a “next chapter” in their business growth/expansion. He further said how in the last five years, the company has been “privileged to work with the KKR team” to create a leading and trusted platform for professionals in the industry. Having said that, they are looking forward to “working with H.I.G. to build on that foundation”.

KKR invested in RBmedia back in the year 2018, and ever since then, RBmedia has diversified its title catalog (from 31,000+ to 66,000+) and successfully augmented its distribution channels. Additionally, the company has also witnessed five years of double-digit revenue and remarkable overall growth.

Seems like H.I.G is just as thrilled with the acquisition. Aaron Tolson, Managing Director at H.I.G, said that with this partnership, the company wants to help RBmedia “build on their success to date as they continue to shape the digital media landscape”, according to Businesswire.

The transaction is likely to close by the fourth quarter of 2023. After its closing, the RBmedia employees will receive a cash payout from their ownership stakes as per the tenure, whereas the long-term employees will receive two times the amount of their annual salary.