Platinum Equity acquires CBS Outdoor’s European Business

M&A firm Platinum Equity has acquired the assets of CBS Outdoor International, which is among the largest out-of-home media and billboard businesses in Europe.

CBSO International provides custom media solutions to outdoor advertising agencies and direct clients in the United Kingdom, Ireland, France, Italy, the Netherlands, Spain and China.

Platinum Equity’s European investment team headed by Bastian Lueken in London led the acquisition. He said Platinum Equity’s European investment and operating capabilities were keys to getting the deal done and will benefit CBSO International going forward.

“We have a strong team in London with a lot of experience, and our portfolio includes companies with pan-European operations,” said Mr. Lueken. “Our goal is to partner with the management team and help elevate CBSO International to new heights through hard work and customer focus. We will also continue looking for ways to grow the business organically and through complementary add-on investments.”

A team that includes Platinum Equity in-house operations specialists is focused on transitioning the newly acquired business. A rebranding initiative is underway and a new corporate name and image will be announced as that process unfolds.

UK, London