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Crestline Leads Lenders in B Media Group’s Debt Facility

December 28, 2015, 07:54 AM
Filed Under: Media

Seaport Capital Partners announced B Media Group (the "Company"), a Seaport portfolio company, has completed the acquisition of Showtime Outdoor Media, a billboard operator on Puerto Rico. Crestline Specialty Lending led the debt financing, which included a new term loan and a revolving credit facility, to finance the acquisition. The proceeds of the debt financing were used to fund the purchase of Showtime, refinance outstanding debt, support the Company's continued growth, and for other corporate purposes.

"2015 was a transformative year for B Media as the Company grew substantially over the prior year," said Juanchi Casillas, one of the co-founders of the Company. "The Company is excited as it enters 2016 to continue to provide an island-wide network of billboards and best-in-class service to our customers."

"Acquiring Showtime is an important strategic step in our objective to provide a vast and robust network of outdoor advertising structures across the island of Puerto Rico to our customers. The Company's efforts over the last year have positioned it as one of the leading sources of outdoor advertising inventory on Puerto Rico," added Hector Horta, also a co-founder of the Company.

"We are pleased to be working with Crestline," said Bob Tamashunas, Partner of Seaport Capital. "We believe that they will be a strong partner for the Company as it continues to selectively pursue growth opportunities across the island."

Founded in 2009, B Media Group provides first-in-class billboards in digital and static formats. The Company offers strategic advertising services, flexible solutions and personalized services through a team of marketing professionals.

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