Noson Lawen Partners, the New York private equity firm focussed on small- to medium-sized information and media companies, has completed a privately negotiated growth capital investment in Outdoor Promotions, which operates street advertising assets primarily in the Western US.
Terms of the deal were not disclosed.
Outdoor Promotions, which has been in business for 22 years and has long had a presence in Utah and Colorado, recently expanded to Las Vegas, Nevada. Noson Lawen will help the company through a “state of the art rebuilding of all the municipal street advertising properties on the Las Vegas ‘Strip’,” according to a press release. The ad platforms will incorporate “a full digital network with wireless interconnections”.
Noson Lawen is led by media veterans Earl Macomber and Ted Carroll. Both will join Outdoor Promotions’ board.
Noson Lawen has recently enjoyed two strong exits, taking portfolio investment Dolan Media public last July and selling HMP Communications to private equity firm Alta Communications. The firm recently held a second close on its third fund, rounding up a total of $45 million.