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Redext

Out-of-Home Media | Spain Watch video
Initial investment date: April 2005

Realisation date: n/a

Trade: Outdoor Advertising

Business description:
Redext operates a network of large-format advertising billboards around larger cities in Spain as well as urban furniture concessions along the eastern coast. Redext was created in 2005 as a vehicle for the acquisition of three companies; IEPE, Soportes and Impursa. The investment has been made in partnership with an entrepreneur whom GMT has previously backed at EUSA. The combination of the three businesses represented the creation of the leading large format outdoor advertising group in Spain. GMT completed the acquisition in April 2005 and now the company operates over 500 large-format billboards, as well as over 65 outdoor advertising concessions across Spain.

Latest developments:
Redext sells street furniture business unit 

Redext, GMT II’s Spanish outdoor advertising business, completed the sale of its street furniture business unit in December 2015. This successful partial exit was made possible by the strong market position of the company and its resilience during the unprecedented economic downturn in Spain. The proceeds from this transaction have been used to repay outstanding senior debt in the business.

 

In addition, the company’s large format business has a dominant position in the outdoor sub-segment of monopostes, with a market share in excess of 60%. Redext has been one of the early entrants in digital large format in Spain following the launch of 18 digital monopostes in Madrid and Barcelona in mid-2014, and it will actively progress its digital roll-out, whilst also monitoring further consolidation opportunities in the monopostes market, in order to fully benefit from the outdoor advertising recovery. 


Company website:


www.redext.com

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