Lindmark Outdoor Media acquires 550 faces from Look Outdoor Advertising
Transaction includes assets across Texas, Oklahoma and Kansas
NORMAN, OK. – Lindmark Outdoor Media announced today the purchase of 550 Outdoor Advertising displays from Look Outdoor Advertising which fills a strategic geographic gap within the Lindmark portfolio.
Lindmark Outdoor Media is one of the largest privately held outdoor advertising companies in the United States with over 6,000 faces in its inventory. Drachman M&A Co. represented Lindmark Outdoor Media in the transaction. Terms of the deal were not disclosed.
Lindmark said the transaction was a strategic move for the company that allows it to bridge its two core operating divisions.
“We are thrilled to bring this transaction to a close. I’ve known Johnny for over 25 years and have always appreciated his integrity and commitment to doing right by others. We will be good stewards of this inventory going forward” said Trent Lindmark, company founder and President.
Look Outdoor Advertising Partner and General Manager Johnny Rusten said the sale of his company’s assets was something that made sense for their ownership group. The company has been in business since 1994.
“This is our second sale to Lindmark and our ownership team believes it is the right time to sell our remaining inventory and we are pleased that an accomplished operator like Lindmark is here to make that happen again. Selling the balance of our plant to Trent, a product of the Texas Panhandle, gives us confidence that he and his team understand the region and the business. Both our advertisers and landowners will be in good hands,” Rusten said. “In addition, this transaction could not have been handled any better, both professionally and personally, than with Max Drachman of Drachman M&A Co. We appreciate both Trent and Max.”
Drachman M&A Co. CEO & Founder, Max Drachman, believes maps best encapsulate the reasoning for the acquisition. Max Drachman said, “It is simply a perfect fit.”
Lindmark Outdoor Media’s holdings prior to acquisition:
Look Outdoor Advertising’s coverage at closing: