NEW YORK–(BUSINESS WIRE)–Standard Diversified Opportunities Inc. (“Standard Diversified” or the “Company”) (OTCQB:SDOIA) announced an asset acquisition, consisting of over 80 billboard structures, located in the Birmingham and Huntsville, Alabama markets from Quality I/N Signs and Outdoor Advertising, LLC. The purchase was made by the Company’s wholly owned subsidiary, Standard Outdoor LLC (“Standard Outdoor”), a full-service outdoor advertising company.

The purchase includes the ground leases and advertising contracts related to each structure and represents Standard Outdoor’s entry into Alabama, an expansion from its current market presence in and around Austin, Texas. Standard Outdoor expects a substantial increase in outdoor advertising revenues as a result of this transaction.

Ian Estus, Chief Executive Officer of Standard Diversified, stated, “Our team is excited about the strategic expansion of our business, along with the prospect for continued growth over the coming months and years.” The acquisition provides a jumpstart for Standard Outdoor, led by its President, Mike Morrill, to establish itself in the Southeastern market.

Williamson & Associates acted as the exclusive broker and assisted in the negotiations on behalf of Quality I/N Signs and Outdoor Advertising, LLC.

About Standard Diversified Opportunities Inc.

Standard Diversified Opportunities Inc. is a holding company that owns and operates subsidiaries in a variety of industries, including insurance, other tobacco products and outdoor advertising.

About Standard Outdoor LLC

Standard Outdoor is a full-service outdoor advertising company.

Insiders Take – Standard Outdoor is a new player in the Outdoor market and this is their second acquisition, the first being a purchase of 5 billboards from Metro Outdoor of Austin, owned by Mike Morrill, who is now serving as Standard Outdoors’ President. We could not find a web site yet for the company, but understand one should be up soon.

Insider talked with  Marty Williamson of Williamson & Associates who represented Quality Outdoor on this most recent transaction.

It was a pleasure to assist Mitchell Hembree of Quality Outdoor with the sale of his assets in North Alabama. I have seen many Outdoor plants over the course of my career and, without a doubt, Quality Outdoor is one of the best and in fact, one of the best in the Southeast.  For Standard Outdoor Advertising, this is a key acquisition and a great beginning and foundation for continued growth and expansion. 

 

The quality inventory consisted of approximately 200 faces, both static and digital,  in several markets in North Alabama including Cullman and Huntsville.