Francisco Partners and H.I.G. Capital join forces to complete acquisition of RBmedia’s audiobook business
In a strategic move to bolster the audiobook industry, Francisco Partners, a prominent global investment firm specializing in technology and media-focused businesses, has announced its collaboration with H.I.G. Capital and RBmedia’s management. This dynamic partnership marks a significant development as it finalizes the acquisition of RBmedia from KKR. With this strategic investment, H.I.G. and Francisco Partners are set to provide robust support to RBmedia, already renowned as the leading audiobook publisher globally, in its pursuit of continuous growth within the industry. RBmedia boasts an extensive catalog of spoken content and a potent distribution network that connects millions of avid listeners worldwide.
“We look forward to working with Francisco Partners and H.I.G. to capitalize on the numerous tailwinds present in the industry. We welcome Francisco’s media technology expertise and its global presence and are eager to partner with them and H.I.G. on the next chapter of our story,” said Tom Maclsaac, CEO of RBmedia.
RBmedia, headquartered in Landover, Maryland, has a rich history dating back to its establishment in 1979. The company’s impressive catalog comprises over 66,000 titles, earning it numerous accolades in the audiobook arena. These titles are accessible through a vast array of digital listening platforms, with more than 50 partners in its network. Notable platforms include Audible, Spotify, Apple, Google Play, Scribd, Storytel, OverDrive, Hoopla, among others. Over the past five years, RBmedia has achieved remarkable growth, doubling the size of its catalog to ensure a diverse and enticing array of content for its dedicated listeners.
RBmedia’s ascension to the top of the audiobook industry is unquestionable. With a library exceeding 66,000 titles, their audiobooks consistently secure top positions in prestigious literary awards and bestseller lists. However, it’s not just about the content; it’s about accessibility. RBmedia’s digital retail and library distribution network is a powerhouse that connects with millions of listeners worldwide. Whether at home, on the road, or wherever their mobile devices take them, RBmedia ensures that their titles are readily available. Their extensive reach extends to leading audio platforms, including Audible, Spotify, Apple, Google Play, Audiobooks.com, Storytel, OverDrive, Hoopla, and many more.
Aaron Tolson, Managing Director at H.I.G., said, “The audiobook industry is poised for sustained growth, and H.I.G. is thrilled to collaborate with RBmedia’s management team and Francisco Partners to usher the company into its next chapter. I am confident that together with Francisco Partners, we will bolster RBmedia’s position as a leading audiobook publisher.”
As the partnership between Francisco Partners, H.I.G. Capital, and RBmedia materializes, it signals a promising future for audiobook enthusiasts. The infusion of expertise, resources, and strategic vision into RBmedia’s already thriving ecosystem promises to elevate the audiobook experience to even greater heights. With this collaboration, RBmedia is poised to continue its ascent as the unrivaled leader in the world of audiobooks, bringing a world of literary adventures to the ears of millions across the globe.
With a keen interest in tech, I make it a point to keep myself updated on the latest developments in technology and gadgets. That includes smartphones or tablet devices but stretches to even AI and self-driven automobiles, the latter being my latest fad. Besides writing, I like watching videos, reading, listening to music, or experimenting with different recipes. The motion picture is another aspect that interests me a lot, and I’ll likely make a film sometime in the future.
