Primesight Acquires Titan's Roadside estate
Primesight and Titan Outdoor UK have agreed terms for the acquisition by Primesight of Titan's large format Roadside estate.
The acquisition will combining Primesight's premium backlight billboard portfolio with Titan's national and regional billboards business.
For Titan, the sale of its Roadside estate will enable it to focus on its Rail and Retail offerings and will pave the way for future digital expansion.
Titan's Roadside estate comprises 8,600 panels, consisting of 7,900 48 sheet panels and 700 96 sheet panels. The transaction is scheduled for completion on 1 September.
Naren Patel, chief executive officer of Primesight, commented: "We are delighted to be acquiring these assets, which will significantly enhance both the scale and spectrum of outdoor products we can offer our clients. We are great believers in the power of large format Roadside Billboards and look forward to marketing these fantastic locations".
Jon Slatkin, chief executive of Titan, added: "This is a great move for us. We're now able to concentrate all of our efforts on maximising the advertising potential in Rail and Retail environments. We now deliver over 90% of the rail audience and are clear market leaders in the retail space with 17 of the top 20 malls and partnerships with the fastest-growing supermarket chains, ASDA and Morrison's. Our aim now will be to bring these environments to life though focused marketing, aggressive sales, and estate development. No doubt this will include digital."