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MidOcean Agrees to Buy GSTV from Dan Gilbert-Backed Rockbridge

GSTV, which runs video advertising at gas pumps around the US, is being valued in a sale at $500 million to $600 million.Source: GSTV
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Private equity firm MidOcean Partners has agreed to acquire GSTV, formerly known as Gas Station TV, from billionaire Dan Gilbert’s private equity firm, the company’s CEO said in an interview.

It’s the first time the company is trading hands in more than a decade. GSTV has been owned since 2014Bloomberg Terminal by Detroit-based Rockbridge Growth Equity, which is backed by Gilbert, the billionaire who founded and controls online mortgage lender Rocket Cos.

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