December 21, 2021
NEW YORK – Liquid Outdoor Media (“Liquid”) announced today the sale of 15 premium digital out-of-home advertising displays in White Plains, New York, to Premier Outdoor Media (“Premier”).
Liquid is a boutique outdoor advertising company with a footprint in major metropolitan cities. Premier is backed by Caruth Capital Partners with assets in New York, New Jersey, Delaware and Maryland.
Drachman M&A Co. advised Liquid on the transaction. The terms of the deal were not disclosed.
Pat Sherry, a managing partner of Liquid, said this year-end transaction was a strategic move by his firm to reposition the company for future expansion.
“Our company is in a major growth stage and the divesting of the White Plains assets will allow us to better support our core strategic markets,” Sherry said.
Premier CEO Dominick Vastino said his company’s acquisition demonstrates their intention to continue growth in the exceptional markets like New York City.
“These are premium assets that represent a significant addition to our company’s expanding portfolio of digital offerings for our clients,” Vastino said. “This transaction is just the first of more additions to our plant as we look to 2022 as a major growth year.”
Max Drachman, CEO of Drachman M&A Co., said the year-end closing demonstrates the fluidity in the out-of-home market as companies become more focused on regional consolidation and tailoring their assets.
“At the end of the day, this business is about reallocating capital into core areas of expertise. Premier will do very well with the acquisition, and Liquid will redeploy these proceeds into other outstanding OOH assets to drive value.”
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.
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