Huntington Billboards (“Huntington”) announced today the sale of its Florida outdoor advertising assets to Lamar Advertising Company (“Lamar”). Stark Capital represented Huntington Billboards in the transaction.
The transaction included 48 existing advertising displays, consisting of 42 static displays and 6 digital displays, along with 8 additional displays currently under development. The assets are located across multiple Florida markets, including Panama City Beach, DeFuniak Springs, Ocala, and Orlando. Terms of the transaction were not disclosed.
“Congratulations to Lamar on acquiring a terrific group of assets. We have tremendous respect for Lamar and are confident this portfolio will be a strong addition to their company. We appreciate the professionalism of the Lamar team throughout the process, and we are grateful to Craig Berry and the entire Stark Capital team for doing an outstanding job representing Huntington. We believe the industry is strengthened when good operators find the right opportunities to work together, and this transaction is a great example. The Powell family remains incredibly bullish on the industry and looks forward to continuing to invest, grow, and be part of it for many decades to come,” said Huntington’s CEO/Owner, Justin Powell
“We were pleased to represent Huntington in this strategic sale, and it has been especially rewarding to work alongside the Huntington team over the past several years. The sale process generated significant interest from multiple qualified bidders, which we believe is reflective of the continued strength and depth of the outdoor advertising M&A market. Ultimately, Lamar was a natural fit for the portfolio, and their highly-talented team worked hard on getting this transaction across the finish line. We are very pleased with the outcome for both parties,” said Craig Berry, Partner at Stark Capital.
Kean Miller served as legal counsel to Lamar. Robbins, Kelly, Patterson & Tucker (RKPT) served as legal counsel to Huntington Billboards.
About Huntington Billboards
Headquartered in Gordon, Ohio, Huntington Billboards is one of America’s fastest-growing independent outdoor advertising companies, operating thousands of static displays across the country, with a core focus on client service, landowner relationships, and disciplined long-term growth.
About Stark Capital Solutions
Stark Capital is a leading capital provider and M&A advisory firm focused on the outdoor advertising industry. Stark Capital has successfully completed over 550 billboard-specific transactions throughout the United States.
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