Gemspring Capital, a Westport-headquartered middle-market private equity firm, has acquired Bobit Business Media Inc., a B2B media company based in Torrance, California.
The family-owned Bobit Business Media was founded in 1961 and has about 170 employees. The company focuses on niche verticals covering the fleet, transportation, beauty and law enforcement professions. The financial terms of the transaction were not disclosed, but the deal will include the arrival of Richard Rivera, former chief financial officer at EnsembleIQ, as Bobit”™s new CEO.
“I am excited to partner with Gemspring in stewarding Bobit”™s continued success,” said Rivera. “The Bobit family and team have built a company focused on providing unique and superior value to its customers and audience. We will continue to carry that purpose and mission forward.”
