AllOver Media Continues Growth, Buys Fellow Media Co.
AllOver Media, Inc., announced recently that it acquired a California-based truck stop media company for an undisclosed amount in a deal that closed earlier this month.
The Plymouth-based company serves the “out-of-home” media industry by placing advertising signage for its clients primarily at gas stations, convenience stores, and truck suppliers. AllOver Media said that it gains new advertising distribution at approximately 430 truck stops through the acquisition of CAP Companies, Inc.
“The addition of CAP Companies … brings a new truck stop network to AllOver Media and is consistent with our growth strategy of looking for acquisitions that both deliver value to our advertisers as well as complement our existing product portfolio,” Tony Jacobson, founder and CEO of AllOver Media, said in a statement.
CAP Companies—based in Roseville, California—provided product research and consulting services for clients interested in advertising with the truck stop industry.
Glenn Sherling, vice president of marketing for AllOver Media, told Twin Cities Business that CAP Companies’ name will be “phased out” as it “folds into the AllOver Media umbrella brand.” He added that his company will retain Tom Sanford, president of CAP Companies, to handle inventory relationships and to continue his work with diesel truck industry members. Sherling said that AllOver Media may also continue to work with CAP Companies’ independent contractors who handle advertising installation.
Sherling said that his company will move CAP Companies’ operations, production, and other functions to AllOver Media’s corporate office in Plymouth. The 30,000-square-foot corporate office, which the advertising company moved into last March to accommodate its growth, houses its large-format printing operations and approximately 105 employees.
The advertising company has completed a series of acquisitions during the last five years, primarily to bolster its “out-of-home” media services.
In 2010, AllOver Media acquired Atlanta-based Fillboard Media, adding a patented “gas nozzle” advertising product to its line. In 2011, the advertising company acquired Seattle-based Pacific Media Group (a gas pump advertising provider) that added roughly 40,000 stations to AllOver Media’s network. In 2012, the advertising company acquired three companies: Wayzata-based Intran Media Vehicles, Inc., for its truck-side advertising services; Minnetonka-based The Wide Format Shop, for its large format printing services; and GSA Media (a division of San Francisco-based Brite Media Group, LLC), for its gas station and convenience store advertising.
Jacobson said that those additions have allowed the company to experience double-digit increases in sales growth during the past five years.
Meanwhile, Chicago-based Monroe Credit Advisors, LLC, announced Tuesday that it arranged a $16 million loan deal for AllOver Media, a move that will help the company refinance its existing debt.
In February, AllOver Media hired former Sun Country Airlines leader Shaun Nugent as its chief financial officer and Korey Wrobleski, former vice president of sales at Bloomington-based Ceridian Corporation, as its chief revenue officer.
AllOver Media—which was founded in 2002—currently employs representatives at its Plymouth headquarters as well as in Los Angeles; Phoenix; New York; Chicago; Dallas; Seattle; Charlotte, North Carolina; Boston; Miami; and Orlando.