Rockbridge Growth Equity Announces Sale of Triad Retail Media to Xaxis, a WPP Company
DETROIT, Oct. 13, 2016
DETROIT, Oct. 13, 2016 /PRNewswire/ — Detroit-based private equity firm Rockbridge Growth Equity, LLC (Rockbridge) today announced the sale of Triad Retail Media, the global leader in digital retail media advertising, to Xaxis, the world’s largest programmatic audience company. Xaxis is a wholly owned operating company of WPP, the world’s largest communications services group with offices in 113 countries.
Triad manages and delivers full-service creative, data and production digital media advertising campaigns to connect with shoppers at point-of-sale. Major global retail partners include Walmart, eBay, Toys”R”Us, CVS, Sam’s Club, Staples, Kohl’s, Asda and more than 1,500 of the world’s largest advertisers.
Since Rockbridge and Triad Retail Media partnered in late 2012, Triad’s revenue and profits have more than tripled. Investment in the company’s leadership team, business development capability, media campaign analytics and corporate infrastructure has allowed Triad to deliver world-class services while undergoing rapid growth.
“Rockbridge Growth Equity has been a valuable strategic partner for Triad,” said Roger Berdusco, CEO of Triad Retail Media. “Through this partnership, we have been able to accelerate our growth, expand internationally and position Triad as the global leader in digital retail media.”
Rockbridge Growth Equity was founded in 2007 by Brian Hermelin, Kevin Prokop, and Quicken Loans and Rock Ventures Founder and Chairman Dan Gilbert. The firm invests in companies that specialize in financial and business services, consumer-direct marketing, and sports, media & entertainment industries. Triad Retail Media was founded by Greg Murtagh in 2004 and was the first company to create nationally monetized digital media programs for retailers and brands.
“Our strategy and commitment to Triad Retail Media extended the company’s leadership in the industry by substantially increasing its service offerings, developing new and existing client relationships and entering international markets,” said Kevin Prokop, Managing Partner of Rockbridge Growth Equity. “We have enjoyed partnering with the Triad team and look forward to watching the company grow.”
Wells Fargo Securities and Petsky Prunier acted as financial advisors to Triad Retail Media. Honigman Miller Schwartz and Cohn LLP provided legal counsel. Boston-based Falcon Investment Advisors partnered with Rockbridge Growth Equity on the initial purchase of Triad Retail Media.
Investing in growth equity and middle-market buyout transactions across various sectors, Rockbridge is active in the market assessing new opportunities and investments as well as companies to add to its portfolio. Rockbridge manages a portfolio of companies with more than $500 million in invested equity.
About Rockbridge Growth Equity
Founded in 2007, Rockbridge Growth Equity, LLC is a Detroit, Michigan-based private equity firm that invests in financial and business services, consumer-direct marketing, and sports, media & entertainment industries. Rockbridge owns equity stakes in Northcentral University, Protect America, Connect America, Purchasing Power, Rapid Advance, Gas Station TV, ABUV Media and Robb Report, and is affiliated with other leading businesses in its target sectors including Quicken Loans, the 2016 NBA champion Cleveland Cavaliers, Title Source and Fathead. For more information on Rockbridge Growth Equity, visit www.rbequity.com.
About Falcon Investment Advisors
Falcon is a private equity firm that invests subordinated debt and equity capital in leading middle-market companies. With more than $2.9 billion of capital under management and an experienced investment team, Falcon is a responsive and resourceful financing partner. Falcon provides $25–$75 million of capital per transaction and is investing through its current fund, Falcon Strategic Partners V, LP. For more information, visit www.falconinvestments.com.
About Triad Retail Media
Founded in 2004, Triad Retail Media is the market leader in creating, managing and operating digital retail media programs for highly trafficked retail websites. Triad’s unique approach to retail advertising provides upside for retailers, brand advertisers and shoppers. Contextual and relevant advertising provides a much richer online shopping experience while giving brands the opportunity to engage shoppers while they’re making purchase decisions. Triad Retail Media has thrice been named one of the fastest-growing private companies in the U.S. by Inc. magazine. Headquartered in St. Petersburg, Florida, Triad employs nearly 700 people in 14 offices worldwide. For more information, visit www.TriadRetail.com or its social media channels: LinkedIn, Facebook, Twitter or Instagram.
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SOURCE Rockbridge Growth Equity, LLC