Renfroe Outdoor acquires capital partner Verde Outdoor Media Savannah, GA and Charleston, SC
For Immediate Release
November 9, 2021
Renfroe Outdoor is pleased to announce that the company has received a substantial equity investment by Verde Outdoor Media. Williamson & Associates represented Renfroe Outdoor in the transaction.
“This acquisition is the first by Verde Outdoor Media in the Southeast. We have a small presence in the Mid-Atlantic and Mid-West and are looking for opportunities to expand throughout the U.S.”, says Dave Wood, President and CEO of Verde Outdoor Media. The company will remain branded as Renfroe Outdoor, a name that has been in the Outdoor Advertising Industry for almost 50 years. Renfroe Outdoor Managing Partner, Jed Renfroe will continue in a leadership role as President/CEO. This capital partnership will enable Renfroe to focus efforts on expansion via development and additional acquisitions.
Renfroe Outdoor CEO, Jed Renfroe said “The Renfroe Team is very excited about this investment by Verde Outdoor Media as we continue to grow our excellent Out of Home assets. We are joining forces with a group of people who value Integrity, Character and Excellence in all we do.”
Williamson & Associates President, Marty Williamson said “We are extremely happy to have been able to assist in this transaction. I’ve known the Renfroe family, including their father Charlie, since I started in the business back in 1983. What they have accomplished over the years is impressive to say the least. We knew Renfroe and Verde would be a strong marriage and for Verde’s entry into the Southeast, it’s hard to think of a better company and operator than Renfroe Outdoor to partner with. It’s going to be exciting to see what they do together in the coming years.”
About Renfroe Outdoor:
Renfroe Outdoor Advertising has almost 50 years of experience in the out of home advertising industry, owning and operating advertising structures since 1972. Renfroe currently owns and operates digital and static assets covering the coastal regions of Georgia and South Carolina. The inventory influences urban areas and extremely well-traveled routes like I-26, I-95 and I-16 with potential to reach millions of customers. Renfroe offers comprehensive media plans through the combination of out of home and targeted online display advertising campaigns.
Contact Jed Renfroe at jedr@renfroeoutdoor.com.
About Verde Outdoor:
Verde Outdoor Media, LLC is a newly formed Out of Home Media company based in Phoenix, AZ and part of a family of companies owned by Ernie Garcia. Verde Outdoor is led by Dave Wood, President and CEO, an OOH industry veteran of 35 years with hands on experience operating in most US markets and Mexico. Dave joins an experienced team of real estate, advertising, marketing, financial, human resource, and legal professionals at Verde committed to building a National OOH company. Since its formation in early 2021, Verde Outdoor has acquired a legacy OOH company in the Mid-West and created partnerships with experienced operators in the Mid-Atlantic and South-Atlantic. Verde Outdoor is focused on expansion opportunities and organic growth throughout the US and Canada.
Contact Dave Wood at Dave.Wood@verdeoutdoor.com.
About Williamson & Associates:
Williamson & Associates is a boutique out of home business brokerage firm exclusively assisting the OOH industry with strategic asset acquisitions & divestitures. The OOH business brokers with first-hand industry experience. With over 44 years of combined knowledge and dedication to OOH, President & CEO Marty Williamson and his daughter, Vice President Amber Williamson Galunas, are perfectly positioned to guide you through every step of the transaction process. For additional information, transaction history, client testimonials and more, please visit: http://www.williamsonassociates.com/
