Outdoor Ad Firm Fuel Seeks Expansion

NEW YORK Fuel Outdoor here is looking to expand. The traditional outdoor firm, which has completed 10 transactions since 2005,  said it has retained Perella Weinberg Partners to advise the company on its acquisition strategy.

Despite the economy, Fuel executives believe it’s the right time to consolidate.

“The out-of-home advertising industry is in a cyclical downturn, but from a secular perspective we continue to believe deeply in the strength of the product and its attractiveness to and effectiveness with advertisers,” said Mike Freedman, CEO for Fuel.

Founded in 2003, Fuel offers billboards, wallscapes, scaffolds, bus shelters and metro light panels in the nation’s largest markets including New York, Los Angeles, Chicago, Philadelphia, Miami, San  Francisco, Washington, D.C., Dallas and Boston.

Fuel is a portfolio company of Och-Ziff Capital Management Group.

Source: Mediaweek.com