NEW YORK, Dec. 1, 2010 /PRNewswire/ -- MidOcean Partners ("MidOcean"), a leading private equity firm, announced that it has acquired a significant interest in Olympus Holdings Group, LLC ("Olympus Media" or the "Company"), the tenth largest traditional outdoor advertising company in the United States, with approximately 3,800 billboard faces in 10 states across the Southeast and Midwest. MidOcean's investment was made in conjunction with the Company's purchase of Collins Outdoor Advertising, Inc. ("Collins").
The Collins acquisition expands the Olympus footprint into the Midwest with inventory in Wisconsin, Minnesota and Iowa. The inventory includes 1,430 billboards (bulletins and posters). This is the first poster inventory acquired by Olympus Media, diversifying its media mix of bulletins, tri-vision and digital displays. Collins has been one of Wisconsin's key providers of traditional outdoor media since 1917, serving local and national businesses for over 90 years with high quality bulletin and poster locations.
"We look forward to partnering with Olympus Media's management and existing shareholders at this exciting time in the Company's life-cycle to build value both organically and through acquisitions," said Tyler Zachem, Managing Director of MidOcean. "We have developed a strong relationship with Jim McLaughlin over the last few years and are confident that MidOcean's resources and experience in the media industry will be helpful to him, the rest of the Company's management team and our other partners at Olympus Media."
Jim McLaughlin, Chief Executive Officer of Olympus Media, noted, "We are excited to have MidOcean join Goldman Sachs and our other shareholders as a value-added sponsor. We have known MidOcean for many years and look forward to utilizing their experience and strategic resources to continue to grow our business." Mr. McLaughlin added, "We thank Marjorie Collins, the Collins family and the entire Collins Outdoor team for their hard work and dedication in making this transaction possible. Collins Outdoor has earned the reputation for being great operators and we intend to carry on in that tradition for many years to come. We are thrilled to become a part of Wisconsin's Outdoor 'scenery' and are looking forward to working with local businesses on exciting advertising campaigns!"
About Olympus Media
Olympus Media is one of the Top 10 traditional Out-of-Home Advertising companies in the U.S. The Company provides quality coverage for national, regional and local businesses in seven U.S. markets. Olympus was founded August 2004 and since then has expanded its presence to Georgia, Pennsylvania, Indiana, Missouri, Tennessee, Florida, Alabama Wisconsin, Minnesota and Iowa. Since late 2004, the Company has successfully integrated assets from more than 70 different acquisitions. The Company currently operates approximately 3,800 billboard faces including 40 digital displays, of which 31 are located in the Atlanta Metro area. For more information, visit www.olympusmediallc.com.
About MidOcean Partners
MidOcean Partners is a premier private equity firm focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth in the United States and Europe. Targeted sectors include consumer and leisure, media and communications, business and financial services and industrials. MidOcean utilizes a broad foundation of expertise in its focus industries and its transatlantic platform to create value for its investors and partners. For more information, visit www.midoceanpartners.com.
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SOURCE MidOcean Partners