Advantage Outdoor was a Houston-based outdoor advertising company operating approximately 5,000 outdoor advertising display faces in markets throughout Texas and surrounding states. The Company was acquired in 1997 in partnership with CEA Capital Partners and, shortly thereafter, Fred Lummis became Chairman and CEO.
At the time, the outdoor advertising industry was highly fragmented and had experienced consistent growth over the past 25+ years. Post-acquisition, the Company’s billboard assets increased from 585 display faces to approximately 5,000 through a combination of de novo locations and more than 30 add-on acquisitions. Advantage positioned itself as the number one or two market share in eight of its top 10 markets.
In May 2000, Advantage was successfully acquired by Lamar Advertising (NASDAQ: LAMR).