Key Takeaways
- • H.I.G. Capital, a $74 billion alternative investment firm, acquired RBmedia, the world's largest audiobook publisher, from KKR in a transaction expected to close by Q4 2023, with Francisco Partners joining as a co-investor.
- • RBmedia operates a catalog of 60,000+ exclusive audiobooks with 8,000 new titles published annually, distributed across major platforms including Audible, Spotify, and Apple, reaching millions of global listeners.
- • Under KKR's five-year ownership (2018–2023), RBmedia more than doubled its audiobook catalog from 31,000+ to 66,000+ titles while achieving consistent double-digit revenue growth and expanded distribution channels.
- • CEO Tom MacIsaac characterized the transition as a "next chapter" for the company, emphasizing continuity with H.I.G.'s commitment to building on the platform's established position in the digital media landscape.
- • RBmedia employees will receive a cash payout upon transaction closure, signaling H.I.G.'s retention-focused approach to the acquisition.
Summary
H.I.G. Capital announced that an affiliate has signed a definitive agreement to acquire RBmedia from Kohlberg Kravis Roberts (KKR), with Francisco Partners partnering in the transaction. RBmedia, headquartered in Landover, Maryland, holds the position of the world's leading audiobook publisher and spoken-content platform. The deal is expected to close in the fourth quarter of 2023.
RBmedia's scale underscores the strategic value of the acquisition. The company maintains a catalog of more than 60,000 exclusive audiobooks with approximately 8,000 new titles published annually. Its distribution network spans major retail and library platforms—including Audible, Spotify, and Apple—providing access to millions of listeners globally. This extensive footprint positions RBmedia as a critical infrastructure player in the digital audio publishing ecosystem.
KKR's investment tenure (2018–2023) demonstrated significant operational growth. During this five-year period, RBmedia doubled its audiobook catalog from over 31,000 to approximately 66,000 titles while achieving consistent double-digit revenue expansion and strengthening its distribution relationships. RBmedia CEO Tom MacIsaac credited the partnership with KKR for establishing "a leading and trusted platform" and expressed confidence that H.I.G. would continue building on this foundation.
H.I.G. Capital, headquartered in Miami and managing approximately $74 billion in capital under management, has built a track record across alternative investments with exposure to over 400 companies across 30+ years. Managing Director Aaron Tolson emphasized H.I.G.'s intention to support RBmedia's ongoing growth trajectory while capitalizing on its leadership position in the evolving digital media landscape. The transaction includes a cash payout to RBmedia employees upon closure, indicating H.I.G.'s focus on management continuity through the transition.
RBmedia's scale underscores the strategic value of the acquisition. The company maintains a catalog of more than 60,000 exclusive audiobooks with approximately 8,000 new titles published annually. Its distribution network spans major retail and library platforms—including Audible, Spotify, and Apple—providing access to millions of listeners globally. This extensive footprint positions RBmedia as a critical infrastructure player in the digital audio publishing ecosystem.
KKR's investment tenure (2018–2023) demonstrated significant operational growth. During this five-year period, RBmedia doubled its audiobook catalog from over 31,000 to approximately 66,000 titles while achieving consistent double-digit revenue expansion and strengthening its distribution relationships. RBmedia CEO Tom MacIsaac credited the partnership with KKR for establishing "a leading and trusted platform" and expressed confidence that H.I.G. would continue building on this foundation.
H.I.G. Capital, headquartered in Miami and managing approximately $74 billion in capital under management, has built a track record across alternative investments with exposure to over 400 companies across 30+ years. Managing Director Aaron Tolson emphasized H.I.G.'s intention to support RBmedia's ongoing growth trajectory while capitalizing on its leadership position in the evolving digital media landscape. The transaction includes a cash payout to RBmedia employees upon closure, indicating H.I.G.'s focus on management continuity through the transition.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.