Yorkshire-based outdoor advertising company CP Media has agreed a deal with joint venture partner Lamppost Banners which will see it acquire the remaining 55% of the business.
Established more than 10 years ago, the joint venture has seen Lamppost Banners’ business double in size in the last two years, driven by the growing need for councils to maximise their revenue streams and promote and publicise their services and events on lampposts in high traffic areas, particularly those on main arterial roads.
Mike Brennan, the CEO of CP Media, said: “The lamppost banners industry has grown massively in recent years as has CP Media’s own business, and this has meant that operationally both companies are working across the whole of the UK, so it makes perfect sense to work together to improve efficiencies and synergies.”
This latest acquisition by CP Media follows the purchase of airport advertising company, Eye Airports and bus advertising company, Adverta, cementing the company’s market-leading position in OOH.
Brennan added: “Both Adverta and Eye Airports have grown steadily and strongly since becoming part of the CP Media group. This is what we want from Lamppost Banners and we’re prepared to invest our considerable management and financial resources to achieve this.”
CP Media is one of largest outdoor sponsorship companies in the UK, working with more than 40 local authorities to maximise their sponsorship revenues. Established in 2010, CP Media has tripled its revenues in the last four years through both acquisitions and strong organic growth.
