Southern Billboards has sold it’s out of home assets in the Southeast US.  Insider talked to out of home investment banker Gabe Oliverio who represented Southern about the transaction.

Did Southern Billboards sell all or a portion of their assets?

Southern sold all of their owned assets in the southeast. They continue to manage high-profile billboards in the Nashville DMA. 

Southern had been approached by various suitors over the years and felt the time was right. They had previously spun off Nashville assets for Southern a few years ago. 

The buyer has asked to remain confidential. I can say that the buyer was a strategic acquirer with assets across the southeast

The M&A market is terrific right now. Buyer animal spirits are back and we are seeing substantial interest from both strategic buyers and financial firms seeking investments in the outdoor industry. We expect the pace of transactions in the second half of 2021 to be the strongest in more than 20 years.