TierOne Media, LLC, announced it has acquired out of home billboard assets from multiple owners in the Greater Pensacola, Florida, Mobile and Montgomery, Alabama markets.

Mostly large scale digital, the assets consist of 38 faces on 20 steel structures at strategic street and highway locations. In addition, TierOne acquired fully developed permits for 20 more faces which it plans to construct over the next six months.

TierOne was formed by OOH industry veteran Jesse London, in partnership with DirecTech, LLC a Chicago-based private investment group specializing in indoor and outdoor billboard investments. TierOne hopes to expand into other markets throughout the United States and is actively seeking additional acquisitions and opportunities for development.

“In my 30+ year career I was privileged to work with some of the brightest people in media” Jesse London, President and CEO said. “Forming TierOne gives me the opportunity to put their best practices to work in these three vibrant markets”, he added. “Our assembled mix of robust digital and heathy static bulletins coupled with aggressive construction plans form a significant foundation for profitable growth”.

Senior debt financing was provided by Metro Phoenix Bank, N.A., an active lender to the out of home industry. “TierOne’s management team, the great asset mix, the dynamic market strength, and the fact that they brought separate ownership groups together to form one stronger company were important considerations for us”, commented Rickard Strom, Senior Vice President for Outdoor Media Lending at Metro Phoenix Bank.

The selling companies consist of K2 Media, Inc.; Mashburn Outdoor, LLC (Montgomery); Spy Outdoor, LLC; Media Properties 3, LLC; and John Bull Joint Venture. Marty Williamson of Williamson and Associates, Athens, Georgia facilitated the transaction and acted as an advisor to the sellers.

Legal services for TierOne Media were provided by the Orlando based Law Office of Jennifer Sloane, a veteran OOH industry legal advisor.

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