HMI Capital sells oOh!Media stake as managing partner steps down
Fund manager HMI Capital has sold its share in outdoor media specialist, oOh!Media.
HMI’s managing partner, Mick Hellman is stepping down from the board. He joined the OML Board in April 2020, when HMI Capital provided strong support to the Company’s capital raising in the early days of the COVID-19 pandemic.
Mick Hellman. (Pictured.)
oOh!Media chair, Tony Faure, said: “On behalf of the board I want to acknowledge and thank Mick for his contribution to the company over the past two years and wish him every future success.”
AFR Street Talks reported that the sale of the 10% plus stake brought in almost $100 million.
Last month oOh!Media, posted impressive revenue numbers, with full-year results showing the out-of-home (OOH) provider had an 18% lift in revenue to $504 million, compared to the prior year.
oOh!Media’s CEO, Cathy O’Connor told Mumbrella, if you look at the full-year results from 2021, it was really the formats of Road, Street and Retail that is really driving that recovery for the company.
“We had record revenue for the road sector in November and December last year pushing up past the levels of 2019 which is a great sign for the industry.”
In November last year, Here, There & Everywhere (HT&E) sold its 4.2% shareholding in oOh!Media for $49 million.
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