Marty Williamson represented BPS Outdoor has they closed on their sale over 600 faces in Georgia and Florida. Insider visited with Marty on the transaction.
Can you tell us about the ownership group for BPS Outdoor?
BPS Outdoor Advertising was started in 1987 by Paul Fulwood III, who owned a hotel and his own billboards, and Buck Flowers, who owned several gas stations with many of his own billboards. The two business men, seeing how important the billboards were to their respective businesses, realized that billboards must be that important to everybody else as well. They started Buck Paul Signs, or BPS of Tifton, Inc. They ran BPS together until late 2000 when Buck died in a plane crash. Paul bought out his shares and ran the company until 2005 when his son, Paul Fulwood IV (P.D.), graduated college and joined the company full time. In 2016, BPS bought out Woodie Outdoor, a billboard company it had been managing since 2000.
Did the assets include both static and digital faces?
BPS is based in Tifton, GA and has over 240 locations and about 600 faces covering a territory from Vidalia to Thomasville, from Dawson to Jesup/Hinesville and down into Yulee, Florida by way of Waycross and Folkston.
Other than 1 TriVision, all of the assets were static faces, but I would expect the buyer will convert several locations to digital in the near future.
Did this transaction include all BPS Outdoor assets or will they be continuing in the business?
The Fulwood family sold all of their billboard assets.
From your perspective, are values still holding up given the current economy and Covid issues?
Yes, from my perspective, values are still holding up and none of the sellers or buyers I have worked with have been influenced by Covid. In fact, Williamson & Associates has several more pending transactions we expect to close this year.
Any chance you can share information on the Buyer?
The buyer has asked that I do not disclose at this time.
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