OUTFRONT Acquires Select Dallas-Fort Worth Digital Assets from Arrington Outdoor
DALLAS, TX – Arrington Outdoor announced today the divestiture of select digital out-of-home advertising displays in Dallas-Ft. Worth to OUTFRONT Media Inc. (NYSE:OUT). The displays are the only digital faces in the Fort Worth area and enhance OUTFRONT’s existing digital network of displays throughout the metroplex.
Max Drachman of Drachman M&A Co. represented Arrington in the transaction, with the Stroup Law Firm providing legal counsel. Chris Rothfelder of Rothfelder Falick L.L.P. served as legal counsel to OUTFRONT. Terms of the deal were not disclosed.
Arrington remains the largest independent operator in the Dallas-Ft. Worth area with over 700 traditional and digital assets. Arrington is more commonly on the buy-side of transactions, having successfully acquired Faris Outdoor and Brown Outdoor in recent years. Arrington could see these digital assets were more valuable in the hands of a company that could leverage a large network to help advertisers touch every corner of the market.
Arrington Outdoor owner Mike Wolverton remains bullish on the out-of-home space. “Overall, we remain in growth mode and are looking to expand our footprint in North Texas and beyond. This deal made sense and will allow us to redeploy resources to support our overall strategy in this great space in one of the strongest markets in the country,” Wolverton said.
Drachman M&A Co. CEO Max Drachman said the Dallas-Ft. Worth Metroplex continues to be a hot area for out-of-home acquisitions.
“Dallas is a place where valuations are strong and the desire to enhance market share is going to continue to escalate.” Drachman said. “It is a world-class media market, and out-of-home has become the dominant force in the media ecosystem for advertisers to reach consumers.”
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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