Baton Rouge-based Lamar Advertising Company has acquired Ashby Street Outdoor Holdings, which operates 1,908 outdoor advertising displays in Arkansas, Kansas, Oklahoma and Missouri.
This is the latest acquisition by the advertising giant, which added some 8,500 billboards across five U.S. markets to its portfolio back in December as part of a $418.5 million deal.
Ashby Street, which announced the acquisition this morning, was formed in 2011 to acquire billboards in the Fayetteville, Arkansas, metropolitan area, and expanded through several acquisitions. The company also operates 91 LED displays with fully automated content management and scheduling.
Ashby Street was majority-owned by Tinicum Capital Partners II, L.P. and affiliated investment partnerships managed by Tinicum Incorporated. Financial terms of the deal have not been disclosed.
According to Business Report’s 2018 listing of Louisiana’s top 20 public companies, Lamar is No. 4, with revenue of $1.5 billion in 2017, a 2.7% increase from the year previous. Read a recent Business Report cover story about the purchase of telecommunications firm Eatel by the family behind Lamar.