Lamar Acquires Bill Salter Advertising’s 1,750 Display Faces
Lamar Acquires Bill Salter Advertising’s 1,750 Display Faces in Florida and Alabama
Pensacola, FL – Bill Salter Advertising announced today the divestiture of its assets in Florida and Alabama to Lamar Advertising (NASDAQ: LAMR). Drachman M&A Co. represented Bill Salter Advertising in the transaction. Terms of the deal were not disclosed.
Bill Salter Advertising, founded in Pensacola in 1956, operated 1,750 display faces, including 13 digital faces, and is widely known throughout the Southeast as one of the top providers of out-of-home coverage in Florida’s Emerald Coast.
Founded in 1902 in Pensacola, Lamar is one of the largest outdoor advertising companies in the world, with displays across the United States and Canada.
Ross Reilly, Lamar’s Vice President of M&A, mentioned the deal’s significant meaning to Lamar, given the companies’ shared roots in Pensacola.
“We would like to thank Bill and Helen for this opportunity,” Reilly said. “Bill is a pioneer of the billboard business in the Gulf Coast and someone with our utmost respect for building an outstanding company with an exceptional culture. Lamar intends to be a good steward of the impressive portfolio he’s worked on for the last 67 years.”
The seller, Bill Salter, started as a sign painter, eventually erecting his first sign in the 1950s. What followed were decades of growth and innovation, building an exceptional collection of assets in Pensacola, Milton, Destin, Fort Walton Beach, Miramar Beach and surrounding markets.
Drachman M&A Co. CEO, Max Drachman, said the deal is advantageous to both sides. “Mr. Salter is a living OOH legend. He did it better than many, for longer than most and we were honored to help him bring his incredible journey in OOH to a successful conclusion.”
About Drachman M&A Co.
Drachman M&A Co. is the leading Outdoor Advertising Mergers and Acquisitions firm in the United States. 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. We provide guidance and strategic advice from a position of total transparency and complete alignment with our clients’ goals.