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Lamar Advertising Acquires Ashby Street Outdoor
Thursday 18 July 2019

18 July 2019 - Louisiana, US-based Lamar Advertising Company (NASDAQ: LAMR) has acquired Ashby Street Outdoor Holdings, LLC, an operator of 1,908 outdoor advertising displays in Arkansas, Kansas, Oklahoma, and Missouri, the company said.
Terms of the deal were not disclosed.
Ashby Street was formed in 2011 by CEO Jim Matalone to acquire billboard assets in the Fayetteville, Arkansas metropolitan area and expanded through the development of new structures and digital conversions, as well as the 2016 acquisition of 1,326 billboard faces in Fort Smith, AR and Wichita, KS and several smaller acquisitions.
An innovator in digital media, Ashby Street operates 91 LED displays with fully automated content management and scheduling.
Ashby Street was majority-owned by Tinicum Capital Partners II, L.P. and affiliated investment partnerships managed by Tinicum Inc.
Moelis and Company served as financial advisor to Ashby Street. Financial terms of the transaction were not disclosed.
Details
Date Published: 18/07/2019
Target: Ashby Street Outdoor Holdings, LLC
Country: USA
Sector: Advertising/PR
Type: Corporate acquisition
Status: Closed
Vendor:
Buyer: Lamar Advertising Company
Comment:
Terms of the deal were not disclosed

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