Lockridge Outdoor Advertising Divests San Antonio Monument Displays to MH Outdoor
For Immediate Release
April 2, 2024
San Antonio, Texas – Lockridge Outdoor Advertising (“Lockridge”) announced today the divestiture of their monument digital displays in San Antonio to MH Outdoor. Drachman M&A Co. represented Lockridge Outdoor in the transaction. Terms of the deal were not disclosed.
Lockridge is a preeminent developer of Out-of-Home (“OOH”) assets. The Lockridge family is well known throughout the United States, having sold their original billboard assets in Indiana in the early 80s. Tony Lockridge, President, started his career in OOH at a very early age, learning the business from his father Bill Lockridge. To date, Lockridge has developed locations in twenty states. He commented, “The San Antonio project is one that has been years in the making by our team, and we are happy to see it culminate with its divestiture to MH Outdoor. We know the inroads they have made in this market make the sign an excellent fit for their growing business.”
MH Outdoor is a large regional OOH company based in Houston, with assets throughout Texas and the Southeast. MH Outdoor is led by industry veteran Marshall Henderson. The company has diligently built a strong position in central Texas, and this acquisition fits their strategy of acquiring tuck-in displays in growth markets throughout their footprint. Marshall Henderson added “We remain committed to helping businesses tell their story by adding exceptional inventory throughout the markets we serve. We look forward to adding this location to our footprint and continuing our growth through development and acquiring high performing OOH assets.”
Drachman M&A Co.’s CEO, Max Drachman, said “MH Outdoor has assembled a significant platform within the OOH space over the last decade. Their coverage map tells a story of steady growth in highly sought after markets throughout the Sun Belt. Adding high-margin dynamic assets like those developed by Lockridge is strategic in continuing MH’s ascension within the OOH ecosystem.”
About Drachman M&A Co.
Drachman M&A Co. is the leading Outdoor Advertising Mergers and Acquisitions firm in the United States. Drachman M&A Co. is built on a foundation of trust, confidentiality, and integrity coupled with a reputation for persistence and delivering results for clients. We provide guidance and strategic advice from a position of total transparency and complete alignment with our clients’ goals.