A Locke Lord team led by George Ticknor (Boston) and Michelle Earley (Austin) represented Lamar Advertising Company, a leading owner of outdoor advertising and logo sign displays, in the announced acquisition of Fairway Outdoor Advertising’s billboard operations in five U.S. markets from GTCR, LLC for $418.5 million. The acquisition adds more than 8,500 billboard faces, including more than 135 digital displays, in North Carolina, South Carolina, Georgia and Wisconsin to Lamar’s holdings. For more information, see the press release. The Locke Lord team also served as legal counsel in related financing for the acquisition including a new $175 million accounts receivable securitization facility, an offering of an additional $250 million in 5 3/4% Senior Notes due 2026 and an a $100 million incremental increase to its incremental revolving credit facility. Additional team members included Stan Keller, Christine McCay, John Whitlock, Katie Conlon, Megan Foscaldi, Tanya Beroukhim and Natalie Jersak (all of Boston) and Will Becker (Dallas).
Posted on February 8, 2019