Exterion Media

Exterion Media is the largest outdoor advertising company in Europe

September 2016
Investment Date

Business Overview

  • Exterion Media (previously CBS Outdoor Europe) is the largest privately-owned outdoor advertising company in Europe
  • Portfolio of over 425,000 advertising displays
  • Extensive presence in five of the largest markets in Europe; UK, France, Netherlands, Ireland and Spain


Investment Thesis

  • Visibility on the attractive economics of the 8-year London Underground contract, thought to be the most valuable outdoor media contract in the world
  • Well positioned in the high-growth digital and mobile segment of the market
  • Strong management team



  • Direct origination through a longstanding relationship with both the management team and sponsor, as PCS1 made a prior investment in 2013