Williamson & Associates recently celebrated its 50th out of home transaction since its founding in 2017, with the sale of Estus Outdoor in Savannah, GA to Renfroe Outdoor Advertising.  Billboard Insider talked with the company about the deal.

Dick Estus has a long out of home pedigree.

Absolutely, Dick Estus is a true legend in the Industry. Dick started his career over 60 years ago with General Outdoor in Philadelphia and then with Ted Turner in Atlanta.  He later acquired Hogan Outdoor in Savannah and developed hundreds of Savannah locations under the Estus Outdoor banner.  I’ve known Dick for many years and had the pleasure of working with him on a project in Savannah a few years ago.  He is a really great guy- well known, liked and highly respected by many in the industry. I have quite a bit of admiration for Dick and there is not enough space here to say everything I would like to but here is a nice interview you did with Dick from a couple of years ago:

What did Dick sell?

His remaining static and digital assets on Interstate 16 at the booming Pooler exit. These superb locations will make a great addition to the impressive coverage Renfroe Outdoor has developed in the Savannah and coastal Georgia region.

What trends are you seeing in the transaction market?

The market is red hot right now – a perfect storm created by the strong recovery from Covid, continued rise of out of home, the number of buyers (new players with plenty of capital in addition to existing operators with expansion plans),  attractive competitive rates from lenders and for some, a concern about the possible increase in capital gains tax. Most importantly, all of this activity is affecting the multiples which are certainly trending up. I can’t imagine a better time to be a seller than right now!

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