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Digital Billboard Company Shopper Media Looks For Buyers

Private equity firm Fortitude Investment Partners is looking to offload Shopper Media, who provide digital out of home advertising.

The company has digital advertising screens in over 420 shopping centres around Australia, and generates roughly $20 million of annual earnings before interest, tax, depreciation and amortisation. All its screens are located in malls, and are 100 per cent digital.

Fortitude are expected to field offers of around $200 million.

Shopper claims it has added new shopping centres to its network at a rate of nearly two per week from 2016.

“We’re focused on delivering value to our shopping centre partners, increasing customer visitation and dwell time through our complementary Wi-Fi network and innovative and interactive digital advertising displays.”

The Australian is speculating that competitors in the OOH space, such as oOh! Media, and QMS parent Quadrant Private Equity, may lob bids, as well as private equity firms.

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