Many private equity funds and family offices are intersted in out of home to judge from the calls Insider gets. Professional investors like the industry’s barriers to entry, low technology risk and digital billboard upside. Billboard Insider has compiled a list of 31 firms which have invested in out of home in the past or are looking at out of home now.
| Company or Fund | Comment |
| Acon | Investor in Magic Outdoor which was merged with Fairway Outdoor in 2004. Exited Fairway outdoor by sale in 2009. |
| Abry Partners | Invested in in-theater place based advertising company Screenvision in 2018. |
| Altacrest Capital | Texas equity fund. Looking to do out of home equity investments of $15 million or more. |
| American Pacific Group | $450 million fund willing to consider out of home. |
| Anderson Pacific Group | Ken Anderson is CEO. Investments in out of home and placed based. |
| Ares Capital | Invested in OUTFRONT’s $400 million convertible preferred in 2020 |
| Bain | Former owner of iHeartMedia, Inc. which owned Clear Channel Outdoor. |
| Beekman Group | Owner of Mesmerize Media. |
| Boston Omaha | Public Company parent of Link Media, which owns billboard assets in the Southeast US and Wisconsin |
| Boulderado Group | Equity fund run by Alex Buffet Rozek. Owns a portion of Boston Omaha, which is turns owns outdoor company Link Media |
| Caruth Capital | Funded Jersey Premier Outdoor purchase in June 2018 |
| Flexis Capital | Funded Total Outdoor in 2011. OAAA member |
| GTCR | Equity fund which partnered with Adams Outdoor to acquire Fairway Media Group in 2015 |
| Hellman & Friedman | Partnered with Karl Eller to aquire Eller Media in 1995 and sold company to Clear Channel Communications in 1997. |
| H.I.G Private Equity | Fund which has invested in media and will look at out of home |
| Magnolia Capital Fund, LP. | Fund controlled by Adam Peterson that owns a large stake in Boston Omaha which owns Link Media |
| McWhorter Capital | Georgia holding company with interests in real estate and Horton Outdoor |
| Msouth | Most investments located in south. Invested in Roswell GA based Signal Outdoor which operates transit and street furniture plant along east coast. |
| Providence Equity | Invested in OUTFRONT’s $400 million convertible preferred in 2020 |
| Seaport Capital | Owns bMedia, a Puerto Rico out of home company which recently bought Lamar’s Puerto Rican billboards |
| Searchlight Capital | Invested in Ocean Outdoor, a UK out of home company. |
| Shamrock Capital | Los Angeles equity fund which invested in US and Canadian out of home operator Branded Cities. Has also invested in in theatre placed based advertising company Screenvision. |
| Sidwalk Labs, a Subsidiary of Alphabet, Inc. | Alphabet is holding company for google. Sidewalk invested in Intersection Media rational for the Intersection transaction centered upon the LinkNYC project which aims to provide ad-supported Wifi across New York City |
| Standard Diversified | Public company which owns Standard Outdoor. |
| SunTX Partners | Texas equity fund which focuses on sunbelt companies. Investor in Dallas-headquartered Big Outdoor/Radiant Outdoor |
| Tantara Capital Partners | Active in Adams Outdoor/Fairway transaction with GTCR. Engaged in several out of home opportunities. |
| Thomas Lee Partners | Former Owner of iHeartMedia, Inc. which owned Clear Channel Outdoor. |
| Tinicum | Invested in Ashby Street Outdoor in 2011. Exited via sale to Lamar in 2019 Also invested in Skyway Towers which is attempting to lease billboard space to telecom providers. |
| Trivest | Invested in The Atlanta sign (Centenniel Olympic Park Billboard) together with Blackbird Media. |
| Twin Point Capital | Private investment firm interested in out of home. |
| Welch Carson | Healthcare/Tech investor which invested in Titan Outdoor which was merged with Control Group to form Intersection |
If you’d like to add your firm or another firm to the list let Insider know using the form below.
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