Norman, Oklahoma – August 16, 2019 – Lindmark Outdoor Media (“Lindmark”) acquired FMG North Texas, LLC, the former Southwest Division of Fairway Outdoor (“Fairway”) from Fairway.  FMG North Texas, LLC owns billboards in Texas, Oklahoma, Arkansas, and Louisiana.  Lindmark is an Oklahoma based company owned by Trent Lindmark which also has Outdoor assets in New Mexico and Oklahoma.  Fairway continues to own and manage assets in Kentucky, West Virginia, Georgia, Alabama, and Florida.  Lindmark will maintain its corporate office in Norman, Oklahoma, with satellite offices in New Mexico (Las Cruces and Roswell) and Texas (Sherman, Texarkana, and Wichita Falls).  This transaction increases Lindmark’s total face count to over 5,000, making Lindmark one of the largest independently owned billboard companies and the seventh largest Outdoor company in the United States.

KALIL & CO., INC. acted as exclusive broker for the buyer; EIDE BAILLY acted as the financial advisor, and financing was provided by FIRST UNITED BANK.

MOELIS & COMPANY and BARCLAYS acted as brokers for the seller; PRICEWATERHOUSECOOPERS acted as the financial advisor; and KIRKLAND & ELLIS provided representation and counsel to the seller.

Insider’s take:  This transaction leaves the Fairway Southeast assets (Valdosta Georgia and Kentucky) unsold.  Some tirekickers but nothing to report.

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