NEW YORK--(BUSINESS WIRE)--Van Wagner Communications, LLC (VW), the nation’s largest privately held outdoor advertising company, announced today a significant expansion of its outdoor advertising business nationwide with the acquisition of Fuel Outdoor Holdings, LLC (“Fuel”). No financial details of the transaction were disclosed.
Fuel, one of the nation’s leading outdoor advertising companies, is headquartered in New York City. Fuel’s unique wall murals are found in major cities throughout the U.S., with significant concentrations in New York, Miami and Dallas. The company also has a 20 year furniture contract in Miami for benches and bus shelters with advertising panels. The company’s third product line, Metrolights panels — now uniquely marketed nationwide by Van Wagner—consists of street-level shelter-sized advertising panels on private property in major cities.
In commenting on the announcement, Richard M. Schaps, Chairman and CEO of Van Wagner stated, “Fuel brings both exceptional outdoor advertising assets and staff to Van Wagner. Van Wagner will now offer brand marketers and advertisers the strongest and broadest array of high-end outdoor advertising products and services. As a result of this acquisition, Van Wagner has dramatically strengthened its market position in Miami, entered the Dallas and Philadelphia markets, and bolstered its business in New York, San Francisco and Chicago, among other major hubs throughout the country.”
Schaps concluded, “Because of the natural fit of these companies operationally, Van Wagner will seamlessly absorb the Fuel business. Key members of the former Fuel management and sales teams will remain with Van Wagner, and Fuel’s assets will be rebranded with the Van Wagner name. We're excited about the prospect of this opportunity and will move quickly to fully integrate Fuel into Van Wagner.”
Mark H. Johnston, President of Van Wagner added, “While we fully expect this acquisition to benefit our entire organization nationally, our dramatically strengthened presence in Miami will substantially benefit Van Wagner’s two marquee, Florida-based businesses— our blimp and fixed wing banner-towing businesses—Van Wagner Airship Media and Van Wagner Aerial Media, respectively."
Johnston concluded, “Van Wagner is committed to forming new partnerships that create unique and powerful brand awareness opportunities for clients in major cities, as well as in sporting and event environments. Recently announced acquisitions of The Lightship Group, the world’s largest blimp advertising operator, and the American Blimp Corporation, the designer and manufacturer of the most popular advertising airships in the world are examples of that commitment.”
Van Wagner was advised by Barclays in this transaction.
About Van Wagner Communications, LLC
Since posting its first imprint in Times Square in 1979, Van Wagner Communications has been recognized as one of the most innovative industry leaders in the development of outdoor advertising. With operations in New York, Los Angeles, Washington, D.C., Boston, Chicago, San Francisco, Las Vegas, Miami, Dallas and Philadelphia, sports properties in over 40 states, and blimps on four continents, Van Wagner serves major advertisers in the US and overseas.