Texas-based sign shop franchise business Fastsigns – the parent company of Australian-based Signwave – has been sold to Los Angeles private equity firms LightBay Capital and Freeman Spogli & Co.
Fastsigns, established 1985, is one of the largest franchisors in the signage and visual graphics industry, with more than 700 locations in the US and eight other countries.
“The Fastsigns team has done a remarkable job building the company into the leading franchisor in the signage and visual graphics industry,” says David Burcham, managing director of LightBay. “We look forward to partnering with Freeman Spogli and the management team to support the company in its next phase of growth.”
Fastsigns CEO Catherine Monson says: “We are delighted to partner with LightBay and Freeman Spogli, whose franchising industry expertise, network of relationships and capital will be a valuable resource as we embark on a significant expansion of our footprint.”
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| Agfa HQ at Mortsel, Belgium |
Belgian-German digital imaging giant Agfa has revamped its business structure and created three divisions to seek “future partnerships.”
The newly created Agfa has been regrouped into three separate divisions: Offset Solutions (the prepress business of the former Agfa Graphics business group), Digital Print & Chemicals (the inkjet business of the former Agfa Graphics business group and the activities of the former Agfa Specialty Products business group) and Radiology Solutions (the imaging activities of the former Agfa HealthCare business group).
“This simplified divisional structure is technology and solutions based and will allow Agfa to seek future partnerships,” says the company in a statement.
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Finnish paper multinational Stora Enso – which has distribution centres in Melbourne, Brisbane, Adelaide, Sydney and Perth – has started negotiations with employees at the Oulu Mill in Finland over a plan to convert the paper mill into packaging board production. The planned change could result in a reduction of a maximum of 400 employees at the mill.
“The potential conversion of Oulu Mill would enable Stora Enso to further improve its position in the growing packaging business and take a major step in its transformation,” the company said.
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HP may be interested in buying Xerox, according to a report by industry website Wirth Consulting.
“While this is of course speculation, it’s beginning to look a lot like HP Inc. will acquire Xerox – not in its entirety, but several select parts. Xerox, led by Carl Icahn-backed management, appears to be being readied for sale,” says the report.
Meanwhile, Fuji Xerox has added a new board member – Xerox Corp’s President & Chief Operations Officer, Steven J. Bandrowczak.
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Closer to home, The Australian newspaper reports that buyout funds are ‘circling’ out of home advertising leader oOh!Media.
“While 2018 seemed to be the year of M&A among outdoor advertising companies, some wonder whether the dealing is over,” says the paper.
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| Floating eyesore or an asset to the community? (photo: Brooklyn Eagle) |
New York City has filed a lawsuit against outdoor floating billboard company Ballyhoo Media, which has been sailing barges carrying 18m x 6m digital billboards on the Hudson River and East River.
“Our waterways aren’t Times Square,” NYC Mayor Bill de Blasio said in a statement announcing the lawsuit. “These floating eyesores have no place on them.”
The lawsuit says the billboards distract drivers along waterfront roads, boat operators, and pedestrians and bicyclists on riverside paths. People who live along the waterways have complained that the lights from the billboard have woken them.
Florida-based Ballyhoo Media says it plans to keep its boats afloat. “We think this is a clear overreach of government,” Ballyhoo CEO Adam Shapiro told The New York Times. “We’re trying to be an asset to the community. By no means are we trying to be a distraction.”
After the lawsuit was filed, Ballyhoo launched a new billboard that said: “Freedom is the foundation of our country.”
