Outdoor media infrastructure firm Wildstone Capital has acquired a portfolio of advertising sites from Forrest Group.
Representing the largest privately-owned portfolio of outdoor advertising assets in the UK, these sites include some of the best large-format digital panels in Scotland, let long term to Ocean Outdoor, as well as a further portfolio let to Clear Channel Outdoor.
The sale by Chris Trainer's firm follows him offloading the Forrest Media business to UK rival Ocean Outdoor for £32m in 2018.
The sites are based in Glasgow, Edinburgh, Manchester and Newcastle.
The deal is part of Wildstone’s ongoing European expansion, which has grown exponentially over the last three years, following a transaction earlier this year for Dutch digital company Power Tower.
Jonathan Chandler, managing director of Wildstone, explained: “Working with Chris and the Forrest team on this acquisition has been an absolute pleasure - he has established a fantastic portfolio and we are delighted to be the new guardians of these landmark sites.”
Trainer said: “The disposal of a significant part of our media portfolio following an attractive offer from Wildstone makes commercial sense at this time.
“It further enhances our ability to take advantage of opportunities that will no doubt emerge in the developing economic climate.”
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