Gas Station TV, which is backed by Rockbridge Growth Equity, has formed a joint venture with Verifone, a provider of payments and commerce solutions. The combined business, which merges the assets and operations of Verifone’s Pump Media unit with GSTV, will operate under the GSTV brand. Peter J. Solomon Company served as a strategic adviser on the transaction. No financial terms were disclosed.
April 12, 2017 | New York
Gas Station TV (GSTV), America’s leading video network at the pump, and Verifone (NYSE: PAY), a world leader in payments and commerce solutions, today announced a 50-50 joint venture that combines the assets and operations of Verifone’s Pump Media division with GSTV, which is owned by Detroit-based Rockbridge Growth Equity and other investors. The combined business will operate under the GSTV brand and deliver 3.3 billion annual impressions through more than 18,000 locations in all 50 states by year’s end.
On par with other major media brands, the new GSTV will provide marketers with significant reach to a mass audience of 75 million unique viewers every month, including one-in-three adults 18 years and older and nearly 31 million millennials in the United States. National and regional marketers across all industry sectors now have a simple and effective way to reach valuable, highly attentive consumers in an increasingly fragmented media environment.
Peter J. Solomon Company was pleased to have served as a strategic advisor on the transaction.
About Peter J. Solomon Company
Peter J. Solomon Company (PJSC), an investment banking advisory firm, provides strategic advice to owners, chief executives, senior management and boards of directors of companies and institutions worldwide. We advise on mergers and acquisitions, divestitures, financings, recapitalizations, restructurings, and activism defense. To date, the firm has successfully completed more than 500 strategic and financial advisory assignments.
Throughout our nearly thirty-year history, PJSC has served as a trusted advisor to our corporate clients. Our combination with Natixis, a French financial services firm owned by Groupe BPCE, in 2016, has resulted in an entrepreneurially-spirited company with a global M&A and financing platform and a continually increasing breadth of product offerings. Our tradition of providing unbiased advice, grounded in intellectual integrity, continues—as does our mission to bring the collective experience and knowledge of our senior bankers and the capabilities of Natixis to each assignment as we advise our clients on how to achieve the optimum value and outcome for each transaction. For further information visit pjsc.com or follow us on Twitter @PJSCtweets and LinkedIn.