Company: Lindmark Outdoor Media
Corporate Headquarters: 2700 Technology Place, Norman, OK 73071
Markets: Oklahoma, New Mexico, Arkansas, Kansas, Louisiana and Texas
Phone: 405-928-5800
Email: info@lindmarkoutdoormedia.com
Lindmark Outdoor Media is one of the largest privately held billboard companies with over 6,000 faces in the United States. Lindmark was established by Trent Lindmark who has been in the billboard industry since 1993. Billboard Insider ranks Lindmark Outdoor as the seventh largest Outdoor company in the Unites States based on number of faces.
Lindmark has had great success over the years focusing on organic growth. Along with internal growth and smaller targeted acquisitions, the Company made two significant acquisitions led by the 2016 purchase of 700 faces from Newman Outdoor and in 2019, the acquisition of the Southwest division of Fairway Outdoor with structures in Texas, Oklahoma, Arkansas and Louisiana.
Blue Sky Digital Printing, also founded by Trent Lindmark in 2011, focuses on providing their customers with the highest quality of digitally printed vinyl advertisements. Blue Sky Digital is located at the corporate offices in Norman, OK.
We had a chance to catch up with Trent for an update on his Company.
Trent, maybe we can start with the current size of the Company?
Lindmark has 6,058 faces with 45 digital units with 70 employees across 6 states (AR, KS, LA, NM, OK & TX).
Last year, you had a very strategic acquisition of 550 faces with Look Outdoor. How did those assets fit into your territory and how are they performing?
The deal you reference is where Lindmark purchased the assets of Look which filled a gap between Lindmark’s New Mexico and Texas markets, encompassing chiefly the Texas Panhandle. As you said, the deal was very strategic and filled the only hole in Lindmark’s footprint. Look had built a great group of assets which continue to perform at a high level.
Lindmark Outdoor has grown significantly over the last three years and is now one of the largest privately held outdoor companies. How important has it been to build your core team and tell us about some of your key people?
We have more than tripled in size over the past 3 years. When we purchased the former SW Division of Fairway, we inherited some valuable employees which gave us a strong base upon which to build, and we could not have continued to build without such a firm foundation. As we’ve grown over these years, we’ve molded our management model to suit not only our current needs but to be able to handle another tripling in size should the right opportunities arise. All of our employees are key, performing essential functions and have each contributed to Lindmark being certified as a “Great Place to Work”.
The M&A market in 2021 and the start of 2022 has been incredibly active and values have been on the rise. Now we have a changing economic climate with increasing inflation and rising interest rates. What is you sense of how the OOH market will be impacted and how do you see Lindmark approaching acquisitions through the rest of 2022?
I feel that the current atmosphere of rising inflation and interest rates will understandably lower the multiples of EBITDA/BCF that sellers and buyers have settled upon emerging from the COVID-19 pandemic. I’m a firm believer in the saying “Don’t fight the Fed”, and I have no doubts its actions will cool down the economy, including the OOH market. However, Lindmark has been, and will remain, very disciplined in its approach to acquisitions. We like our current size and footprint, so we don’t have to grow, which is one of the great benefits of being private. I don’t see our overall business approach being affected by inflation and rising rates, so I’m still bullish on acquisitions. If an acquisition makes sense for us, we’ll be at the table despite the current economic volatility.
[wpforms id=”9787″]
Paid Advertisement
