Mashburn Divests 29 Faces in Atlanta to OUTFRONT

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November 10, 2022.  Atlanta, GA – Mashburn Outdoor announced today the divestiture of Outdoor Advertising Assets in Atlanta to OUTFRONT Media, Inc. (NYSE: OUT).  This transaction included 21 digital displays and eight static faces. Mashburn’s footprint represented the largest independent digital network in the suburbs of Atlanta.

Drachman M&A Co. represented Mashburn Outdoor in the transaction.  Terms of the deal were not disclosed.

Mashburn Outdoor’s CEO, Richard Mashburn, said “We are very proud of the assets we assembled in Atlanta, and are happy to hand OUTFRONT an excellent portfolio. Going forward, we will be selective on acquisitions in the Southeast, as we remain bullish on OOH’s future.” Mashburn Outdoor is retaining their 30’x50’ spectacular Georgia State digitals in downtown Atlanta and a digital and static plant in Spartanburg, South Carolina.

Max Drachman, CEO, Drachman M&A

Drachman M&A Co. CEO Max Drachman said the assets sold by Mashburn Outdoor represent a strong foothold in Atlanta’s path of growth. “These assets benefited from recent shifts in consumer dynamics which accelerated revenue at an exciting clip. OUTFRONT is expanding the reach of their digital network in Atlanta, allowing advertisers the ability to reach every corner of the market. We are grateful to assist Mashburn Outdoor with the divestiture and look forward to continuing the relationship into the future.”

About Drachman M&A Co.

Drachman M&A Co. is a boutique firm focused on Mergers and Acquisitions of Outdoor Advertising and Tower assets. We provide guidance and strategic advice from a position of total transparency and complete alignment with the goals of our clients. Drachman M&A Co. is built on a foundation of trust, confidentiality, and integrity coupled with a reputation for persistence and delivering results for clients.

Billboard Insider talked with Mashburn Outdoor CEO Richard Mashburn about the transaction

Richard Mashburn, CEO, Mashburn Outdoor

What factors led you to sell the Atlanta signs?

We had several  out of home companies ask about “availability” to purchase our  North Atlanta inventory at the beginning of June and the conversation with Outfront continued and progressed to where it was a true  win-win transaction for both sides.

Where would you like to focus your growth?
We kept our double sided 30 x 50 digital spectaculars located in downtown Atlanta and we still have 8 digital and 9 static faces  located in Greenville / Spartanburg SC.  Over the years we have  owned  digital & static assets in Tennessee , Georgia , South Carolina and Alabama so we are very bullish on the Southeast and we are  currently evaluating several acquisition  growth opportunities in these states.
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