Caruth Capital Partners has acquired Jersey Premier Outdoor Media and has renamed the company Premier Outdoor Media.
Premier Outdoor Media is an outdoor advertising company with over 200 billboards and digital faces in New Jersey, Delaware, Maryland and Pennsylvania. The company was founded by Chet Atkins in 1998 and is headquartered in Moorestown, NJ (www.jpom.net).
CCP partnered with two industry executives, Dominick Vastino and Sean Corbett, on this transaction. Mr. Vastino is now the CEO of Premier Outdoor and most recently he was the co-founder of Alliance Outdoor, an outdoor advertising company headquartered in Hoboken, NJ. Mr. Corbett is now the President and Head of Sales for Premier Outdoor. He spent nearly 20 years at Clear Channel Outdoor where he built a book of business in excess of $40 million annually.
“Premier Outdoor Media’s portfolio gives us a great starting point as we execute on our growth strategy,” said Mr. Vastino. “I am looking forward to working with our team to continue to expand the company’s footprint in the Mid-Atlantic.”
“We are thrilled to be partnering with Dominick and Sean and the team at Premier Outdoor Media. With Dominick’s experience in building value through a disciplined approach and Sean’s passion to build a world-class sales effort, we know that Premier will be a force to be reckoned with in the coming years,” said Tim Wegener, Caruth Co-Founder and Partner.
Caruth Capital Partners invests in lower-middle market businesses and was co-founded by Tim Wegener and Ben deTar Wilhite. The firm is based in Dallas.
© 2018 Private Equity Professional | June 27, 2018