Digital ad agency Triad is acquired by a private equity firm

Private equity firm Rockbridge Growth Equity has acquired Triad Retail Media, an agency that runs behaviorally targeted advertising campaigns on e-commerce sites. Private equity firm Falcon Investment Advisors also provided funding. The companies did not disclose the terms of the sale.

Triad runs brand advertising on e-retail sites, including Walmart.com and ToysRUs.com, that is meant to encourage consumers to add the advertised products to their carts. For example, if a consumer has already added a battery-operated product to her shopping cart on Walmart.com, she may see an advertisement for Energizer batteries.

Rockbridge Growth Equity, which says it focuses its investments in the areas of digital media and marketing services, financial and business services and direct marketing, has previously invested in Fathead LLC, a specialty retailer of wall art and No. 310 in Internet Retailer’s Top 500 Guide. It also has invested in ePrize, a digital ad agency that focuses on promotions and loyalty programs for brands and retailers.

“Rockbridge has a deep operating knowledge in digital media and data and analytics, combined with expertise in technology and marketing services, providing a perfect opportunity to accelerate Triad’s already strong growth,” says Greg Murtagh, CEO and founder of Triad Retail Media. Triad was previously owned by H.I.G. Growth Partners, the growth capital investment affiliate of private equity firm H.I.G. Capital.