GMT Communications, a European private equity group focused exclusively on the communications sector, has acquired the roadside assets of Titan Outdoor Advertising through its portfolio
GMT Communications, a European private equity group focused exclusively on the communications sector, has acquired the roadside assets of Titan Outdoor Advertising through its portfolio company Primesight.
Titan’s roadside assets comprise 8,600 panels, consisting of 7,900 48-sheet panels and 700 96-sheet panels. The value of the transaction has not been disclosed.
Primesight is an independent operator in the UK outdoor advertising market. Acquiring Titan’s roadside assets will double the size of the company. The enlarged group will benefit from Primesight’s backlight billboard portfolio and Titan’s national and regional billboards business.
Primesight owns and markets a portfolio of outdoor advertising products including advertising display panels on major roads, and display panels at leisure and retail outlets throughout the UK. The company’s current portfolio consists of approximately 13,000 smaller six-sheet outdoor advertising panels and a further 140 large format backlight panels including a wide range of 48-sheets, 96-sheets and 350 portrait locations across the UK.
Tim Green of GMT (pictured) says: ‘We are delighted with the performance of Primesight and the progress it continues to make under an excellent management team led by Naren Patel. GMT is the only European private equity group solely focused on the communications sector and, as such, we bring a wealth of expertise that we will continue to contribute to help Primesight achieve its full potential. This is an exciting opportunity for the business and we look forward to helping management realise the full benefits of scale that this acquisition will bring.’
Naren Patel of Primesight adds: ‘Titan’s roadside assets will be invaluable to us in our drive to increase our market share. We look forward to the implementation of Primesight’s business model and the resultant reinvigoration of this new estate. We are great believers in the power of large format roadside billboards. This acquisition clearly demonstrates Primesight’s strength, and our ability to seize opportunities to invest in the business.’
