Lamar Advertising Acquires Premier Outdoor Media

Lamar Advertising Company (NASDAQ: LAMR) has acquired Premier Outdoor Media in an all-cash transaction, strengthening its presence in the Northeast Corridor.

Rhea-AI Summary

Lamar Advertising Company (NASDAQ: LAMR) has acquired Premier Outdoor Media in an all-cash transaction, strengthening its presence in the Northeast Corridor. The acquisition adds nearly 200 billboard faces, including 45 digital units, across key markets in New Jersey, Delaware, Maryland, Pennsylvania and New York.

Premier Outdoor Media, founded in 2018 through Caruth Capital Partners, had achieved significant growth under the leadership of Dominick Vastino and Sean Corbett, increasing its digital display count by over 500% to become the largest independent digital OOH network in the Philadelphia DMA. Financial terms of the transaction were not disclosed.

Positive

• Acquisition expands Lamar's portfolio with 200 billboard faces, including 45 digital units
• Strategic expansion in key Northeast markets including Philadelphia and New York
• Assets are REIT-qualified, aligning with Lamar's investment strategy
• All-cash transaction suggests strong financial position

Negative

• Financial terms not disclosed, making it difficult to assess the deal's value
• Integration costs and timeline not specified

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MOUNT LAUREL, N.J., May 5, 2025 /PRNewswire/ -- Premier Outdoor Media ("Premier" or the "Company"), a leading independent operator of out-of-home advertising ("OOH") assets throughout the Northeast Corridor, announced today that it has divested its OOH assets to Lamar Advertising Company (NASDAQ: LAMR) ("Lamar"). Financial terms of the transaction were not disclosed.

Premier was founded in 2018 through Caruth Capital Partners, LLC's ("Caruth") acquisition of Jersey Premier Outdoor Media, LLC, in partnership with industry executives Dominick Vastino and Sean Corbett. Under Vastino and Corbett's leadership, Premier successfully executed an aggressive growth strategy, increasing the Company's digital display count by more than 500% and establishing Premier as the largest independent digital OOH network in the Philadelphia DMA.

The all-cash acquisition adds nearly 200 billboard faces, including 45 digital units, across key markets in New Jersey, Delaware, Maryland, Pennsylvania and New York to Lamar's portfolio.

"We couldn't be more pleased with what Dominick and the Premier team have accomplished," said Tim Wegener, Managing Partner at Caruth Capital Partners. "They executed a focused growth strategy, built high-quality assets, and delivered outstanding results. It's been a privilege to partner with them on this journey."

"We are proud of the platform we've built and the value we've created over the past several years," said Dominick Vastino, CEO of Premier Outdoor Media. "Lamar is a first-rate operator and we're confident they will continue to deliver exceptional service to our clients."

"This acquisition enhances our position in the greater Philadelphia and New York markets, including southern New Jersey, and is consistent with our strategy of adding high-quality, REIT-qualified assets to our portfolio," said Sean Reilly, CEO of Lamar.

Moorgate Securities LLC served as exclusive financial advisor to Premier and Munsch Hardt Kopf & Harr, P.C. served as legal advisor to Premier and Caruth in connection with the transaction.  Kean Miller LLP served as legal advisor to Lamar.

About Lamar Advertising Company
Founded in 1902, Lamar Advertising Company is one of the largest outdoor advertising companies in North America, with over 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States with approximately 5,000 displays.

About Moorgate Capital Partners
Moorgate Capital Partners, LLC ("Moorgate") offers independent advisory services across the private and public markets, including mergers & acquisitions, divestitures, capital raises, and general strategic advisory and is focused on the digital infrastructure, communications, and digital & traditional media industries.  Moorgate has offices in New York City and San Francisco. For more information, visit www.MoorgatePartners.com.

Moorgate Securities LLC, a Moorgate affiliate, is a registered broker-dealer and member of FINRA and SIPC.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lamar-advertising-acquires-premier-outdoor-media-302445864.html

SOURCE Premier Outdoor Media

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What assets did Lamar Advertising (LAMR) acquire from Premier Outdoor Media?

Lamar acquired nearly 200 billboard faces, including 45 digital units, across New Jersey, Delaware, Maryland, Pennsylvania and New York markets.

How will the Premier Outdoor Media acquisition impact Lamar Advertising's market position?

The acquisition enhances Lamar's position in the greater Philadelphia and New York markets, including southern New Jersey, while adding REIT-qualified assets to their portfolio.

What was Premier Outdoor Media's growth history before the LAMR acquisition?

Founded in 2018, Premier grew its digital display count by over 500% to become the largest independent digital OOH network in the Philadelphia DMA.

How much did Lamar Advertising (LAMR) pay for Premier Outdoor Media?

The financial terms of the all-cash transaction were not disclosed in the announcement.