MidOcean Partners Acquires GSTV, a Leading Retail Media and Digital Video Advertising Network

MidOcean Partners (“MidOcean”), a premier New York-based alternative asset manager specializing in middle-market private equity, alternative credit investments and structured equity, announced today the acquisition of GSTV (the “Company”), the national on-the-go video network engaging and entertaining targeted audiences at scale across tens of thousands of fuel retailers, from Rockbridge Growth Equity. Founded in 2005, GSTV engages over 115 million monthly high-intent viewers at fuel and convenience retail locations, delivering targeted, full-sound video advertising to consumers at a key moment on their path to purchase. Rockbridge will retain a stake in the Company. Financial terms were not disclosed.

With a footprint of more than 29,000 retail locations, GSTV delivers contextually relevant video advertising supported by advanced data and analytics. The network reaches high-intent audiences at scale, helping major brands drive immediate consumer action and build lasting brand equity. GSTV’s leadership in the fast-growing digital video, digital out-of-home, and retail media categories positions the Company to continue benefiting from the secular shift away from traditional linear advertising toward performance-driven media.

“GSTV is uniquely positioned at the intersection of retail media, digital video, and digital out-of-home – three of the fastest-growing areas in advertising today,” said Marshall Phelps, Managing Director at MidOcean. “Brands are increasingly seeking measurable, high-impact ways to engage consumers near the point of purchase, and GSTV’s national scale and ability to deliver contextually relevant content in real time delivers proven results. Our investment thesis in this space was developed in partnership with our executive advisors Jim Wilson and Eric Kozic, who bring deep expertise in digital media and marketing services to MidOcean. We’re thrilled to have Jim joining as Chairman of the Board and look forward to partnering with Sean McCaffrey and the GSTV team to support the Company’s continued expansion.”

“We’re thrilled to partner with MidOcean to accelerate GSTV’s next phase of growth,” said Sean McCaffrey, CEO of GSTV. “The convergence of digital video, retail media, and data-driven advertising presents an extraordinary opportunity – and GSTV sits at the center of that evolution. MidOcean’s strategic insight, operating experience, and track record in scaling media platforms make them the ideal partner as we expand our national footprint, deepen our retail and programmatic capabilities, and continue delivering measurable impact for our brand partners.”

Gibson Dunn acted as legal advisor to MidOcean. Moelis & Company LLC and Solomon Partners served as financial advisors to GSTV and Honigman served as legal advisor.

About GSTV

GSTV is America's most engaging, on-the-go video network. GSTV is a data-driven, national video platform entertaining targeted audiences at scale across tens of thousands of fuel retailers. Reaching 45% of adults monthly, GSTV engages viewers at an essential waypoint of their consumer journey, and GSTV is the only consolidated and scaled digital media platform in the convenience and fuel channel. While offering consumers entertaining and informative content, GSTV drives immediate action and creates lasting brand impressions, delivering measurable results, in-store conversions, and incremental sales for retailers and advertisers. Visit gstv.com for more information and follow us on Facebook, Instagram, LinkedIn and X (Twitter).

About MidOcean Partners

MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity, alternative credit investments and structured equity. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts. For more information, please visit: https://www.midoceanpartners.com

About Rockbridge Growth Equity

Founded in 2007, Rockbridge Growth Equity is a Detroit-based middle market private equity firm committed to helping both founder-operated and established companies accelerate growth and build long-term, sustainable value. Rockbridge combines the flexibility of a financial sponsor with the benefits of a strategic partnership by leveraging the firm's relationship with the Rock Family of Companies, which provides access to industry and functional expertise. As of year-end 2024, Rockbridge has regulatory assets under management of over $1.7 billion across its target sectors: e-Commerce and Marketing Services, Financial Services and Fintech, Tech-Enabled Products and Services, and Digital Media.

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