Fairway Outdoor and Olympus Media merge
Acon Investments and MidOcean Partners have combined some of their portfolio companies.
MidOcean Partners and Acon Investments could have required merger and acquisition consultants during the tie-up of some of their portfolio companies.
Olympus Media and Fairway Outdoor Advertising have now combined to form Fairway Media Group, with the new enterprise having posters and bulletins in 17 US Midwest and south-eastern states.
The firm has more than 21,300 displays and it is forecast that the transaction will enable the company to expand its market presence and scale.
It will be based in Fairway's current headquarters in Greenville, South Carolina, while Fairway Outdoor's current chief executive officer Mark Moyer will be the leader of the new brand.
"We are excited about merging Olympus with Fairway Outdoor to create a truly unique asset within the outdoor advertising industry," MidOcean managing director Tyler Zachem said, adding there are "numerous opportunities to continue to grow Fairway Media".
Fairway Outdoor Advertising had previously merged with Magic Media to become one of the largest outdoor marketing firms in the US.
Posted by Ron Maverick
Source: Fairway press release, June 20th