OOH Merger in Tier-1 Markets
NY, LA, Atl, Miami/Ft. Lauderdale, Tampa/St. Petersburg & suburban D.C.
Merged Company Makes Greater Whole —Sales is the Critical Part for Success of the Sum
Transit and Street Furniture companies Signal Outdoor Advertising and Martin Outdoor Media have agreed to combine forces in an equity merger. The transaction is effective as of 9/28/18.
OOH Today first reported three weeks ago ‘the rumor’ of this merger ⇒ OOH mOves September 21 and posted confirmation in last Friday’s post here ⇒ 16 OOH mOves. Atlanta-based private equity firm,
MSouth Equity Partners, ‘sponsored the merger.’
From an additional market and inventory perspective, adding Martin Street Ads’ nearly 10,000 advertising Transit Benches in Los Angeles and Miami-Ft. Lauderdale, to the Signal offerings may help. The new partnership inventory will be some 9900 bus benches, 5100 bus shelters and 500 bus ads. The biggest positive, is 27 year veteran Keith Thompson, EVP of Sales in the mix. Thompson is a seasoned, capable leader who understands selling #OOH and will lead the sales operations. Given the opportunity, Thompson’s guidance can turn the ship if he is allowed to do so.
Signal and Insite-Martin Complete Merger Creates a National Transit-based Advertising Platform
Atlanta & Los Angeles – Transit and Street Furniture companies http://www.signaloutdoor.com, LLC and InSite Martin Street Ads, LLC have agreed to combine forces in an equity merger. The transaction was effective at the end of September. The combined entity will offer coast to coast transit shelter, transit bench and bus advertising coverage in partnership with municipalities and transit authorities in major metropolitan markets including New York, Los Angeles, Atlanta, Miami – Ft. Lauderdale, Tampa – St. Petersburg & suburban Washington DC.
Randy Smith, CEO of the newly combined enterprise said, “The combination of our two companies will enable us to better serve our municipal partners in providing first-rate amenities to their transit riders.”
The operation will include an experienced executive team led by President & COO, Ray Moyers, who commented, “The Signal-InSite philosophies are very much aligned. Local business is crucial to our success. We are dedicated to providing the highest quality services to all businesses, large or small. And, we can better serve our national clients with the addition of Los Angeles, another top 10 market, coupled with the expansion of our Miami-Ft Lauderdale presence. We are delighted to join forces with the InSite-Martin team to continue building the best transit operation in the country.”
“Local business is crucial to our success.”
The merger was sponsored by Atlanta-based private equity firm, MSouth Equity Partners. “The combination of Signal and InSite creates a national transit-based advertising platform and solidifies the combined company’s position in highly attractive tier-1 markets,” said Barry Boniface of MSouth. “We are excited to partner with the newly combined executive team.”
Signal was represented by lead counsel Eversheds Sutherland, LLP. InSite was represented by lead counsel Skadden, Arps, Slate, Meagher, & Flom, LLP, and Ernst & Young Capital Advisors, LLC (EYCA) acted as the exclusive financial advisor to InSite in connection with the transaction.
The folks at Martin Outdoor are good people. Nothing but the best for these guys.
Thank you Dash Two. Martin’s inventory is strong and we are very positive on Keith Thompson if we were not clear in the post. He knows OOH.