Audax Group has signed an agreement to acquire AllOver Media, a provider of out-of-home advertising media.
AllOver Media (AOM) is one of the largest out-of-home advertising platforms in the US. The company’s core products include gas station advertising, truckside advertising, indoor advertising, door hangers and cash jackets (cash jackets are branded money envelopes given out at check cashing locations). AOM’s media products are placed at convenience stores and gas stations, on truck sides and at a variety of indoor locations, including restaurants, nightclubs and sports arenas. The company provides national, regional or local media plans to its more than 1,000 member customer base. AOM was founded in 2002 and is headquartered in Minneapolis (www.allovermedia.com).
“AllOver Media is a leading alternative out-of-home media company with an unparalleled reputation for providing innovative advertising products and exceptional service to their customers,” said Geoffrey Rehnert, Co-CEO of Audax Group. “We look forward to partnering with Tony Jacobson, Shaun Nugent and the rest of the AllOver Media team to continue growing the business organically and through strategic add-on acquisitions.”
Out-of-home advertising, which includes billboards, ads on transit vehicles, and placed-based ads in malls, airports, and elevators, is a complex advertising channel. With thousands of operators in countless locations around the country, out-of-home advertising is highly fragmented, local in nature, and labor-intensive to execute. Recently there has been other private equity transactions in the out-of-home advertising sector. Just last month, Boathouse Capital completed an investment in Out of Home America Wilkins, one of the oldest (founded in 1965) and largest independent out-of-home media specialists in the country. Out of Home America Wilkins is based in New York (Boathouse Closes Investment in OOHA).
“AllOver Media has had significant success developing and deploying a diverse set of advertising mediums at high-traffic indoor and outdoor locations throughout the United States,” said Tony Jacobson, CEO and Founder of AllOver Media. “We have established a reputation as a top innovator in providing advertising products, and we serve thousands of customers nationwide. With Audax as our new partner, we can more rapidly achieve our growth objectives; their track record of sourcing and integrating add-on acquisitions will fuel growth and allow us to introduce additional innovative advertising products to our customers.”
The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. Audax has over $6 billion in assets under management in its private equity, mezzanine, and senior debt businesses. The firm was founded in 1999 and has offices in Boston and New York (www.audaxgroup.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-20-15
