Digital outdoor media group QMS has de-listed from the ASX after being bought by private equity.
Sydney-based Quadrant Private Equity took control in a deal that gave QMS Media an enterprise value of $571.6 million and an equity value of $420.6 million.
QMS floated on the ASX in 2015 at $0.65 a share. Quadrant paid $1.22
The company has been a stand out for growth in a soft advertising market. In August, the company reported a 65% rise to $16.5 million in first half net profit after tax. Revenue was up 23% to $128.9 million.
QMS expected second half media revenue to be 15% to 20% up.
Group CEO Barclay Nettlefold and Australia CEO John O’Neill are both keeping a stake in the business.
Quadrant has experience with out of home advertising business. It owned APN Outdoor before listing it on the ASX. French multinational JCDecaux bought APN Outdoor for $1.2 billion i n 2018.
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