Houlihan Lokey Advises Bobit Business Media

Houlihan Lokey is pleased to announce that Bobit Business Media, Inc. (Bobit), has been acquired by Gemspring Capital (Gemspring). The transaction closed on November 15, 2018.

Founded in 1961, Bobit is the dominant business-to-business media and events provider for the vehicle fleet, auto dealer, automotive aftermarket, law enforcement, and professional salon/beauty industries. Bobit connects clients to millions of key decision-makers through its highly regarded media brands and reaches its deeply entrenched audiences through digital media, live events, trade shows, conferences, print, and data. Bobit is also adept in adopting new forms of media, including custom content, social media, and white papers to connect clients with each specific audience via the most effective channel. The 57-year-old, family-owned company is headquartered in Torrance, California, with additional offices in Gig Harbor, Washington, Buffalo Grove, Illinois, Uniontown, Ohio, and Marlton, New Jersey.

Gemspring, a Westport, Connecticut-based private equity firm with $355 million of equity capital under management, focuses on making control and structured equity investments in lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a hands-on approach to driving revenue growth and value creation.

Houlihan Lokey served as the exclusive financial advisor to Bobit. This transaction represents Houlihan Lokey's continued position as a leading advisor within the B2B media services, live events, and conferences segments.