Kingston, Jamaica – 10 April 2018 – In a monumental move, local company, I-Print Digital has inked a deal to acquire National Outdoor Advertising Limited (NOA). This agreement will significantly bolster the outdoor advertising space with world-class innovation and creativity emerging from a much more diversified and extensive product range.
The deal was officially completed at the I-Print Head Office on Westminster Road on Tuesday where the company successfully finalized the acquisition of Fundamental LC, which owns 100% of National Outdoor Advertising Limited, at an undisclosed price.
According to Stephen Steele, Chairman of I-Print Digital, this deal brings together the vibrancy and agility of the twelve-year-old Jamaican run and owned, I-Print Digital and the strength and experience of the fifty-year-old industry leader National Outdoor Agency.
“Together, the possibilities for the industry become endless as it will not only be served by a dominant, dynamic industry leader, it will immediately experience the best outdoor billboard portfolio; upgraded with the best outdoor digital capabilities and an enhanced national network. The ultimate aim is to provide greater opportunities so the clients in turn can capture the attention of their customers throughout the island,” Steele explained.
The acquisition is testament to the I-Print’s bold commitment to excellence, creativity and superior service. It is in keeping with the mantra and the growth trajectory of both entities and places both brands in an impregnable position in terms of market share and diversity. With now over 120 employees, the company is in a strong position to enhance its national and regional presence and is not looking to make any adjustments to its current team. Organizational structures will be designed to ensure that the businesses remain agile and focused on quality and brand image.
NOA believes this move is great for both companies. “With well over 800 advertising faces across the Island, this provides the platform for growth in both physical and digital OOH. Two great companies have come together to bring more options and flexibility to meet the advertising and promotional needs of our clients as we remain committed to providing the best quality and service they have become accustomed to. As we see it, this union is the perfect merger where competencies of outdoor media, print and fabrication converge under one umbrella,” Karen James, CFO & General Manager National Outdoor Advertising.
“The industry, the economy and by extension the country moves forward by entrepreneurs making bold moves, pushing the boundaries, doing great things while in the process deploying capital, creating jobs and stimulating aggregate demand. This is truly a case where the value of the new blockbuster entity far exceeds the summation of the individual parts,” Steele ended.
JMMB Securities Limited acted as financial advisors to I-Print Digital Limited clearly showing its commitment to small and medium enterprise.