Out-of-home advertising agency Talon Outdoor revealed it has secured backing from private equity outfit Equistone today as it readies to accelerate its investment into technology and kick off a dealmaking push.
London-based Talon, which offers technology-led advertising to firms, said the cash injection from Equistone would be channelled into further M&A and investment in new territories.
The firms declined to disclose the value of the deal but it is understood to be north of €200m, with Equistone snapping up the stake from previous backer Mayfair Equity Partners which has now exited.
Talon boss Barry Cupples said the firm was now poised for growth with the fresh capital.
“We are particularly excited for the opportunities the new Equistone partnership will create for Talon’s clients across the globe,” he added.
The deal extends Equistone’s track record of investing in marketing services firms, having previously backed global marketing agency adm Group last October and selling its majority stake in global marketing technology and services provider Inspired Thinking Group to Bridgepoint in March.
Paul Harper, Partner at Equistone, said the firm had been “hugely impressed” by Talon and would help spur its growth as the market evolves in the years ahead.
“Out-of-home media has remained a robust and attractive broadcast media for brands to communicate with customers, with the market continuing to digitise and invest in programmatic solutions,” he said.