Pioneer Outdoor Divests Assets to Lamar
140 Outdoor Advertising Displays —Springfield to Kansas City to St. Louis
Deal sees 140 displays change hands in historic transaction
SPRINGFIELD, Mo. – Pioneer Outdoor announces that it has divested its assets, including 140 out-of-home advertising displays, to Lamar Advertising.
The transaction, which included 38 digital bulletin panels and more than 100 static panels stretching from Springfield north to Kansas City and east to St. Louis, represents the divestiture of one of the region’s most prominent operators of out-of-home assets. Drachman M&A Co. represented seller Pioneer Outdoor in the transaction. Terms of the deal were not disclosed.
The deal is the second between the Lipscomb family of Pioneer and Lamar, with the first sale 24 years ago. Pioneer is led by Managing Member Larry Lipscomb, with President Stuart Lipscomb taking the lead on the negotiations. For Lamar, the transaction was led by Ross Reilly, Lamar’s vice president of mergers and acquisitions.
“It has been gratifying to work alongside my dad as we built Pioneer into a regional leader in the out-of-home industry,” Stuart Lipscomb said. “We have had terrific customers, great partners, and an amazing team that have made our growth possible. We know our clients will be in good hands with Lamar, and we look forward to working with them to ensure a smooth transition.”
Pioneer and the Lipscomb family have played an outsized role in the history of the out-of-home space. Larry Lipscomb, Stuart’s father, launched the second round of the family’s Outdoor assets and spearheaded the company’s strategic growth in Springfield. Larry’s father, Jack E. Lipscomb, was an influential member of the Outdoor Advertising Association of America, now known as the Out-of-Home Advertising Association of America.
Drachman M&A Co. CEO Max Drachman said the divestiture by Pioneer represents another successful chapter in the Lipscomb family history in Springfield.
“The Lipscombs are another great example of a successful family business in the out-of-home space,” Drachman said. “From helping to shape the Outdoor industry in the early days of regulation, to their family’s beneficial ownership of radio and TV stations in Missouri, the Lipscombs have played a leading role in Springfield’s media ecosystem for decades. This strategic divestiture makes great sense for both parties, and we are pleased to have helped make it a reality.”
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.
Help us Help You by keeping the only Independent Voice for OOH. ⇒Subscribe to OOH Today