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. 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.
Lamar Advertising Company (NASDAQ: LAMR) ha acquisito Premier Outdoor Media in un'operazione completamente in contanti, rafforzando la sua presenza nel Corridoio Nord-Est. L'acquisizione aggiunge quasi 200 facciate di cartelloni pubblicitari, tra cui 45 unità digitali, in mercati chiave del New Jersey, Delaware, Maryland, Pennsylvania e New York.
Premier Outdoor Media, fondata nel 2018 da Caruth Capital Partners, ha registrato una crescita significativa sotto la guida di Dominick Vastino e Sean Corbett, aumentando il numero di display digitali di oltre il 500% fino a diventare la più grande rete digitale OOH indipendente nella zona di Philadelphia DMA. I termini finanziari dell'operazione non sono stati resi noti.
Lamar Advertising Company (NASDAQ: LAMR) ha adquirido Premier Outdoor Media en una transacción totalmente en efectivo, fortaleciendo su presencia en el Corredor Noreste. La adquisición suma casi 200 caras de vallas publicitarias, incluyendo 45 unidades digitales, en mercados clave de Nueva Jersey, Delaware, Maryland, Pensilvania y Nueva York.
Premier Outdoor Media, fundada en 2018 por Caruth Capital Partners, logró un crecimiento significativo bajo el liderazgo de Dominick Vastino y Sean Corbett, aumentando su cantidad de pantallas digitales en más de un 500% para convertirse en la red digital OOH independiente más grande del área DMA de Filadelfia. No se divulgaron los términos financieros de la transacción.
Lamar Advertising Company (NASDAQ: LAMR)가 현금 거래로 Premier Outdoor Media를 인수하며 북동부 지역에서 입지를 강화했습니다. 이번 인수로 뉴저지, 델라웨어, 메릴랜드, 펜실베이니아, 뉴욕의 주요 시장에 걸쳐 약 200개의 광고판 면과 45개의 디지털 유닛이 추가되었습니다.
2018년 Caruth Capital Partners에 의해 설립된 Premier Outdoor Media는 Dominick Vastino와 Sean Corbett의 리더십 아래 디지털 디스플레이 수를 500% 이상 증가시키며 필라델피아 DMA에서 가장 큰 독립 디지털 OOH 네트워크로 성장했습니다. 거래의 재무 조건은 공개되지 않았습니다.
Lamar Advertising Company (NASDAQ : LAMR) a acquis Premier Outdoor Media dans le cadre d'une transaction entièrement en espèces, renforçant ainsi sa présence dans le corridor du Nord-Est. Cette acquisition ajoute près de 200 faces de panneaux publicitaires, dont 45 unités numériques, dans des marchés clés du New Jersey, du Delaware, du Maryland, de la Pennsylvanie et de New York.
Premier Outdoor Media, fondée en 2018 par Caruth Capital Partners, a connu une croissance significative sous la direction de Dominick Vastino et Sean Corbett, augmentant son nombre d'affichages numériques de plus de 500% pour devenir le plus grand réseau indépendant d'affichage numérique OOH dans la zone DMA de Philadelphie. Les termes financiers de la transaction n'ont pas été divulgués.
Lamar Advertising Company (NASDAQ: LAMR) hat Premier Outdoor Media in einer reinen Barzahlungstransaktion übernommen und stärkt damit seine Präsenz im Nordostkorridor. Die Übernahme fügt fast 200 Werbeflächen hinzu, darunter 45 digitale Einheiten, in wichtigen Märkten in New Jersey, Delaware, Maryland, Pennsylvania und New York.
Premier Outdoor Media, gegründet 2018 durch Caruth Capital Partners, erzielte unter der Führung von Dominick Vastino und Sean Corbett ein erhebliches Wachstum, indem die Anzahl der digitalen Displays um über 500% gesteigert wurde und somit zum größten unabhängigen digitalen OOH-Netzwerk im Philadelphia DMA wurde. Die finanziellen Bedingungen der Transaktion wurden nicht bekannt gegeben.
- 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
- Financial terms not disclosed, making it difficult to assess the deal's value
- Integration costs and timeline not specified
Insights
Lamar's strategic Northeast expansion adds 200 billboards including 45 higher-revenue digital units, strengthening Philadelphia/NYC market presence.
This all-cash acquisition of Premier Outdoor Media represents a targeted geographic expansion for Lamar Advertising in the densely populated Northeast Corridor. The deal adds nearly 200 billboard faces, including 45 digital units, across key markets in New Jersey, Delaware, Maryland, Pennsylvania and New York.
The transaction particularly enhances Lamar's footprint in the Philadelphia Designated Market Area (DMA), where Premier had established itself as the largest independent digital out-of-home advertising network. This is strategically significant as Philadelphia ranks among the top media markets in the country by population.
The digital component of this acquisition deserves special attention. These 45 digital units typically command premium advertising rates compared to static billboards, can host multiple advertisers through rotation, and allow for real-time content updates – all contributing to higher revenue generation per unit.
CEO Sean Reilly's statement that this acquisition aligns with Lamar's strategy of adding "high-quality, REIT-qualified assets" is noteworthy. This indicates disciplined expansion within their REIT (Real Estate Investment Trust) structure, which provides significant tax advantages but requires maintaining certain types of qualifying real estate assets.
While financial terms weren't disclosed, the all-cash nature of the transaction suggests Lamar utilized existing liquidity rather than taking on additional debt or diluting shareholders through equity issuance to fund this expansion.
Lamar strengthens Northeast digital billboard position with Premier acquisition, adding valuable high-margin assets in Philadelphia DMA.
This acquisition represents Lamar's continued consolidation strategy in the fragmented out-of-home (OOH) advertising market. By absorbing Premier Outdoor Media's assets, Lamar has eliminated an independent competitor while significantly bolstering its position in the valuable Philadelphia and New York markets.
The 45 digital units included in this transaction are particularly valuable. Digital billboards typically generate 3-4x the revenue of traditional static boards while offering advertisers greater flexibility, real-time campaign adjustments, and dayparting capabilities. Premier's impressive 500% growth in digital displays since 2018 demonstrates their focus on high-performance assets.
The geographic concentration of these assets enhances their value. Billboards in the Northeast Corridor benefit from dense population centers, high traffic counts, and premium advertising rates. The Philadelphia DMA, where Premier had established itself as the largest independent digital network, represents a significant advertising market with substantial media spending.
This transaction follows the industry-wide trend of larger players absorbing successful independent operators. For Lamar, integrating these nearly 200 faces should be relatively straightforward given their extensive operational infrastructure in adjacent markets.
From a competitive standpoint, this acquisition strengthens Lamar's position against other major OOH companies like Outfront Media and Clear Channel Outdoor in the Northeast, potentially improving pricing power and advertiser relationships in these key markets.
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
The all-cash acquisition adds nearly 200 billboard faces, including 45 digital units, across key markets in
"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
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
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
Moorgate Securities LLC, a Moorgate affiliate, is a registered broker-dealer and member of FINRA and SIPC.
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SOURCE Premier Outdoor Media
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