Lamar Advertising Company has acquired the out-of-home advertising (OOH) assets of Premier Outdoor Media, a leading independent OOH operator in the Northeast Corridor. The financial details of the transaction were not disclosed.
Founded in 2018 through Caruth Capital Partners, LLC’s acquisition of Jersey Premier Outdoor Media, LLC, Premier rapidly scaled under the leadership of industry veterans Dominick Vastino and Sean Corbett. Their strategy resulted in a more than 500% increase in digital display inventory, making Premier the largest independent digital OOH network in the Philadelphia Designated Market Area (DMA).
The acquisition, completed in an all-cash deal, adds nearly 200 billboard faces—including 45 digital displays—across high-value markets in New Jersey, Delaware, Maryland, Pennsylvania, and New York to Lamar’s growing portfolio.
“We couldn’t be more pleased with what Dominick and the Premier team have accomplished,” said Tim Wegener, Managing Partner at Caruth Capital Partners. “They executed a focused growth strategy, built high-quality assets, and delivered outstanding results.”
Premier CEO Dominick Vastino added, “We are proud of the platform we’ve built and the value we’ve created over the past several years. Lamar is a first-rate operator and we’re confident they will continue to deliver exceptional service to our clients.”
Sean Reilly, CEO of Lamar Advertising, commented, “This acquisition enhances our position in the greater Philadelphia and New York markets, including southern New Jersey, and is consistent with our strategy of adding high-quality, REIT-qualified assets to our portfolio.”
Moorgate Securities LLC acted as exclusive financial advisor to Premier, while Munsch Hardt Kopf & Harr, P.C. provided legal counsel to both Premier and Caruth. Kean Miller LLP served as legal advisor to Lamar.
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