Insider knows most of our readers have been tracking Link Media and have watched the company grow to over 500 billboards in Alabama, Florida, Georgia and Wisconsin.
You may not know the Co-Chairman of the parent company Boston Omaha Corp. Alex Rozek and Adam Peterson partnered together to create Boston Omaha and have seen strong growth with investments in billboards. surety insurance and real estate.
What caught the Wall Street Journal’s attention last week was the fact that Alex Buffett Rozek is indeed related to Warren Buffett, though Alex is very private about the connection and you will not see the name Buffett in any Boston Omaha material.
Some highlights from the article which if you have a WSJ subscription you can read here or you can view a PDF version of the article at this link.
- Shares in Boston Omaha have nearly doubled since listing on the Nasdaq in June 2017.
- Boston Omaha has a market capitalization of $363 million, 2.4 times its book value. The company reported $2.4 million in third-quarter revenue, up from $1 million a year before.
- Alex and Adam say they get no help from Mr. Buffett or his company, Berkshire Hathaway Inc. and want their company and its results to stand on its own.
- Boston Omaha looks to buy companies with consistent earnings and strong competitive positions, let them run independently and hold them forever. Like Berkshire Hathaway the company skips earnings calls in favor of an annual letter to shareholders and an annual meeting.
- Alex and Adam met in 2013, when they were each running separate investment partnerships focused on equity investing. Boston Omaha is named for each partners’ home towns.
- Alex might be best known to Berkshire investors for proposing to his now-wife in front of a crowd of thousands at Berkshire’s 2009 annual meeting in Omaha. His billionaire relative called on him for the final question, which became the proposal. Mr. Buffett then told the crowd that Mr. Rozek was his sister’s grandson.
Insider’s take – We are not surprised that the connection came up in the news. Insider has met both of the partners and can reinforce that Alex & Adam minimize the Buffett connection and the company definitely wants is seting its own path. Also, don’t discount Adam Peterson in the relationship. He is a key figure in the Company and his investment fund Magnolia Group, LLC currently owns 55% of Boston Omaha.
[wpforms id=”9787″]
Paid Advertisement
