PCS2 committed to invest £27.5 million Par in the senior secured term loans of Exterion Media. The transaction was originated directly through PDM’s strong relationship with the company, the sponsor (Platinum Equity) and the advisor (JPMorgan).
Exterion Media (previously CBS Outdoor Europe) is the largest privately-owned outdoor advertising company in Europe, with a portfolio of over 425,000 advertising displays. The business has an extensive presence in five of the largest markets in Europe; UK, France, Netherlands, Ireland and Spain.
In March 2016, the company retained the contract to manage the advertising space on the London Underground, which is thought to be the most valuable outdoor media deal in the world.