Great Outdoors Advertising
Divests OOH Assets to Lamar
Hagerstown, MD – Great Outdoors Advertising announced today the divestiture of its digital and static assets to national operator Lamar Advertising Company (NASDAQ: LAMR).
Great Outdoors Advertising is the leading static and digital bulletin operator with a portfolio of high-end locations in the Hagerstown market. Drachman M&A Co. represented Great Outdoors Advertising in the transaction. Terms of the deal were not disclosed.
Great Outdoors Advertising is managed by principals Bryan Mack and J.P. Thal-Larsen – industry veterans with over 40 years of experience. With the acquisition, Lamar marks its entry into Hagerstown.
Mack and Thal-Larsen said the timing was right for their firm to divest of their assets after a rewarding career in the Outdoor space.
“We developed our assets with a focus on taking advantage of the continued growth of the Hagerstown market with an emphasis on the main thoroughfares entering city center. In the hands of a dynamic company like Lamar, we know the performance of these assets will accelerate and provide local and national businesses an excellent opportunity to tell their stories,” Mack mentioned.
“This is an amazing space, with innovation at every corner. We have been very fortunate to have spent most of our careers operating these assets and enjoying the ascension of our business amongst other media,” Thal-Larsen added.
Drachman M&A Co. CEO, Max Drachman, said entering a market with the leading bulletin position is an opportunity most acquirers seek out in earnest.
“Bryan and J.P. are well-known professionals within the OOH space and built a strong portfolio in Hagerstown. We are excited to see their hard work rewarded with a successful exit,” Drachman said.
About Drachman M&A Co.
Drachman M&A Co. is a boutique firm focused on Mergers and Acquisitions of Outdoor Advertising and Tower assets. We provide guidance and strategic advice from a position of total transparency and complete alignment with the goals of our clients. Drachman M&A Co. is built on a foundation of trust, confidentiality, and integrity coupled with a reputation for persistence and delivering results for clients.