Former Wunderman chairman Ian Kennedy leads investors to acquire 100% of SeeMedia Group
A consortium comprising Australian and Singaporean investment funds have signed a definitive agreement with the board of SeeMedia Group to acquire 100% of out of home advertising specialist SeeMedia.
Says Chaz Heitner (left), founder and managing director of SeeMedia: “Founding and growing SeeMedia over the past four years has been very rewarding. This acquisition will enable SeeMedia to mirror the success that this media has achieved in Europe, in Australia and throughout Asia. Our clients and the agencies who represent us will benefit from the consortium’s combined 75 years of management and investment experience in the media industry and a significant injection of capital.”
The Consortium members comprises Ian Kennedy OAM, former chairman of Wunderman Australia and former director of marketing at George Patterson Y&R, Boo Chong Ang, former finance director and Asian business director at Horwitz Publishing Group of Companies, Michael Hall, founder of BioCeuticals and Laurie Muller, former national sales director at Horwitz Publishing Group of Companies Singaporean Interests.
Says Kennedy: “This is an exciting investment for our consortium. SeeMedia is a high quality business and presents an extraordinary opportunity for advertisers to engage positively with motorists nationwide. Chaz has done an exceptional job growing SeeMedia to profitability and we look forward to capitalising on the huge growth potential.”
SeeMedia will be led by current national sales director Laurie Muller.
1 Comment
Media is something that needs to exist, certainly… but let’s not ever spend any time thinking about it or glorifying the bell-ends who do. That’s what BRW is for.