Max Drachman of Kailil and Co closed three deals last week. Insider asked Max for an update.
Max, in our February interview, you mentioned some deals were about to close. Can you bring Insider up to speed?
Definitely. Last week we closed the following transactions:
- We assisted Franklin Outdoor in their acquisition of Clear Channel Outdoor’s assets in Rochester, Minnesota. It was a natural extension for the Franklin team and allowed them to continue their growth in the northern midwest. Franklin is family owned and operates over 780 faces in Minnesota and Wisconsin. Our history with Clear Channel goes back to the Mays family and it was great working with them again.
- We closed a deal selling Rock City Media in New York. Rock City was founded after the acquisition of Midport Outdoor. Midport was one of the longest established billboard companies in the country, with some locations that had over 100 years of history. After buying Midport, the owner spent several years on fixing many of the signs and getting new leases negotiated with nearly all of the landlords. The owner steadily grew the company over the last several years, in terms of both revenue and organic development. He also built some prominent digital locations that were highly sought after.
- We worked with the Middleton family in selling their Outdoor assets in Victoria, Texas. The plant featured a digital network and a strong, cost-efficient lease portfolio. This was not the Middletons first rodeo, as they successfully sold their plant several years ago. It was evident they learned a great deal in their previous transaction, as their leases were secure and easily transferable. The Middletons were sent our way as a referral from a previous client, so we could not be happier to bring this deal to a successful conclusion.
How does the rest of 2017 look for Outdoor M&A?
It looks strong from here. On a macro level, we have been receiving good news about jobs, the stock market continues to perform, and interest rates have remained low. We have plenty of buyers and are working on several more deals that we hope to bring to your attention soon.
What’s your take on Jim McLaughlin’s appointment at Link Outdoor Media?
I’m excited for both Jim and Link Outdoor Media. The equity behind Link are friends of ours and we have been fortunate to work with them in closing a number of deals. They had an opportunity to bring Jim aboard who has about as much experience in growing companies as anyone in any space, so we are excited for the possibilities ahead for both of them. Having closed deals with Jim as well, we can’t wait to assist Link’s continued growth into a major player.