Transit and Street Furniture companies Signal Outdoor Advertising and Martin Outdoor Media have agreed to combine forces in an equity merger. The transaction is effective as of 9/28/18. The combined entity will offer coast-to-coast Transit Shelter, Transit Bench and Bus advertising coverage in partnership with municipalities and transit authorities in major metropolitan markets including New York, Los Angeles, Atlanta, Miami – Ft. Lauderdale, Tampa – St. Petersburg & suburban Washington DC.
According to Randy Smith, CEO of the newly combined enterprise, “The combination of our two companies will enable us to better serve our municipal partners in providing first rate amenities to the transit riders and cities.”
The operation will include an experienced executive team led by President & COO, Ray Moyers, who commented, “The Signal-Martin philosophies are very much aligned. Local business is crucial to our success. We are dedicated to providing the highest quality services to all businesses, large or small. And, we can better serve our national clients with the addition of Los Angeles coupled with the expansion of our Miami-Ft Lauderdale presence.
The merger was sponsored by Atlanta-based private equity firm, MSouth Equity Partners. “The combination of Signal and Insite creates a national Transit-based advertising platform and solidifies the combined company’s position in highly attractive tier-1 markets,” said Barry Boniface of MSouth. “We are excited to partner with the newly combined executive team.”
The new partnership will provide transit advertising on some 9900 bus benches, 5100 bus shelters and 500 bus ads.