Williamson & Associates Mergers and Acquisitions is pleased to announce the successful closing of the sale of Penneco Outdoor Advertising to Adams Outdoor Advertising. The transaction, which closed Monday, November 2, 2026, includes 32 structures and 83 billboard faces across five counties in western Pennsylvania.
The Penneco portfolio is anchored by 15 faces along the Pennsylvania Turnpike (I-76) between Irwin and Bedford, one of the most heavily traveled corridors in the state, and includes eight digital faces in Irwin, North Huntingdon, Delmont and Uniontown. The remaining inventory covers Westmoreland, Fayette, Indiana, Bedford and Allegheny counties, with locations along U.S. 30, U.S. 22, Route 51, Route 119 and Route 981 serving commuters into Pittsburgh, travelers to the Laurel Highlands, and traffic to Arnold Palmer Regional Airport and Indiana University of Pennsylvania. The Indiana County locations are also positioned near the Homer City Energy Campus, a multibillion-dollar power and data center redevelopment expected to drive significant growth in the region.
Founded in 2009 with a handful of structures in Westmoreland County, Penneco grew into a well-built regional plant serving local businesses, public agencies and national brands. The sale to Adams Outdoor Advertising places these assets with an operator that is actively investing in western Pennsylvania.
“We are grateful to the customers, landowners, and employees who made Penneco Outdoor successful over the last 17 years. We chose Adams for its practical approach to business, strong industry presence, and ability to create greater opportunities for our customers. Marty Williamson and his team did an exceptional job managing a competitive sale process and bringing the transaction to a timely and successful close. We were equally well served by The Law Office of Jennifer Sloane, whose expertise and counsel were invaluable throughout the transaction” said Ben Wallace, Chief Operating Officer of Penneco Outdoor Advertising.
“Penneco is exactly the kind of company buyers want to own: Turnpike frontage, digital inventory, and a plant that was built carefully, one location at a time,” said Marty Williamson, President & CEO of Williamson & Associates. “Western Pennsylvania has become one of the most active markets in our industry, and with major investments like the Homer City Energy Campus coming online, this portfolio has a bright future. Adams was the right home for these assets, and we are proud to have helped the Penneco team close this chapter on their terms.”
Adams Outdoor Advertising, the nation’s fourth-largest out-of-home advertising company, has been one of the most active acquirers in the OOH space. The Penneco acquisition builds on the Ohio Valley Market that Adams established this summer through its acquisitions of Barnes Advertising Corporation, also represented by Williamson & Associates, and Oliver Outdoor. With Penneco, Adams now operates more than 1,160 billboard faces across eastern Ohio and western Pennsylvania, extends into Indiana and Bedford counties for the first time, and more than triples its Pennsylvania Turnpike inventory.
About Penneco Outdoor Advertising Penneco Outdoor Advertising is a locally owned and operated outdoor advertising company based in western Pennsylvania. Founded in 2009 with a few structures in Westmoreland County, the company grew to serve advertisers across Westmoreland, Fayette, Indiana, Bedford and Allegheny counties with static and digital billboards.
About Adams Outdoor Advertising Adams Outdoor Advertising is the nation’s fourth-largest out-of-home advertising company and is privately held. A leader in the industry, Adams delivers high-impact, creative advertising campaigns across key U.S. markets. With a focus on innovation and strategic growth, the company connects brands with audiences through a premium portfolio of static and digital billboards. For more information, visit adamsoutdoor.com.
About Williamson & Associates Williamson & Associates is a boutique M&A advisory firm working exclusively in the out-of-home advertising industry. Founded in 2017 by Marty Williamson — a former OOH owner who founded, operated, and divested five outdoor advertising companies himself — the firm is led by a team of former owner-operators and has completed more than 120 transactions since its start. For more information, visit williamsonassociates.com or contact Marty Williamson at 706-207-1197.
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