MidOcean, ACON merge ad agencies to form Fairway Media

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US mid-market private equity firm MidOcean Partners and ACON Investments have merged their respective portfolio companies Olympus Media and Fairway Outdoor Advertising to form Fairway Media Group.

The combined company has more than 21,300 bulletin and poster displays in 17 states across the Southeast and Midwest and is now the fourth largest traditional outdoor advertising company in the US.

The company will be headquartered in Greenville, South Carolina in the current headquarters of Fairway. Mark Moyer, the current chief executive of Fairway Outdoor, will serve as the CEO of the new group.

“We are excited about merging Olympus with Fairway Outdoor to create a truly unique asset within the outdoor advertising industry,” MidOcean managing director Tyler Zachem said in a statement.

“We believe there are numerous opportunities to continue to grow Fairway Media both organically and through acquisition, in both existing and new markets.”

Kirkland & Ellis served as legal advisor to MidOcean. Hogan Lovells served as legal advisor to ACON.

The deal follows MidOcean’s recent investments in US fuelling equipment company Jones & Frank and Global Knowledge, the world’s largest independent training provider.

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