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New York-based Fuel Outdoor is looking to expand. The traditional outdoor company, which has completed 10 transactions since 2005, announced Monday (June 8) it had 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.
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