Max Drachman is an out of home advertising investment banker with Kalil and Co. Insider talked with Drachman about trends in the out of home transactions market.
What’s new on the out of home advertising M&A front?
Things have been steady. We just closed a deal in Wisconsin selling Hartlind Outdoor to Link Media. This deal was a strategic buy for Link, and expands their footprint into the western side of the state. The seller retained a custom sign business that they are going to focus on and grow. Overall it was a good deal for both sides.
That’s not the only deal we’ve seen from Link in Wisconsin, correct?
That is correct. Last year we sold them JAG Outdoor which is mostly concentrated in Green Bay and the northeast region of Wisconsin. A few months later they entered Milwaukee when we sold them Optic Outdoor’s signs. Now with Hartlind, they have become a major player in the state. I also believe they are one of the fastest growing independent Outdoor companies in the country, based on these deals in Wisconsin and their acquisitions in Alabama and Georgia.
How is 2017 looking for Kalil?
It could be one of our best years ever. Overall, most of our clients feel good about the current business climate, and that has led to healthy M&A activity. We should have a few more deals to discuss with Insider in the next few weeks.