Adrian J Cotterill, Editor-in-Chief
Platinum Equity, current owners of Exterion Media would, in our humble opinion, have sold Exterion whether they won the recent Transport for London (TfL) Underground bid or not.
If Exterion had lost, Platinum would have got rid quickly but still made a tidy profit, thanks in FULL to the work that Shaun Gregory has / had done with the Bus business – a hugely profitable (if perhaps, sometimes unglamorous) part of their business.
Having won the tender however – against, lest we forget, a fiercely competitive JCDecaux, the value of the business is so much higher, so it is therefore, not unexpected that Platinum Equity should wish to cash in.
Cashing in – is exactly what they plan, we hear, as plans are afoot for a GBP 1 billion stock market flotation.
Platinum paid GBP 150 million for Exterion (nee CBS Outdoor) in October 2013 so will certainly be sitting on a nice fat profit.
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