I Squared Capital to Acquire oOh!media for $631M in Out-of-Home Media Play — I Squared Capital

Event summary

I Squared Capital to acquire oOh!media for A$898M (US$631M), a 100% premium over its April 2026 share price.
Deal values oOh!media at an enterprise value of approximately A$1.04B (US$733M).
Transaction expected to close in Q4 2026, subject to shareholder and regulatory approvals.
oOh!media operates over 30,000 digital and static out-of-home media assets across Australia and New Zealand.

The big picture

I Squared Capital’s acquisition of oOh!media aligns with its strategy of investing in scaled network businesses with long-term growth potential. The deal reflects a broader trend of private equity firms targeting out-of-home media infrastructure, which benefits from durable competitive advantages and high-quality assets. With over $60B in AUM, I Squared is reinforcing its commitment to the Australian market, having already invested in energy, environmental, and transport sectors since opening its Sydney office in 2022.

What we're watching

Integration Strategy: How I Squared will accelerate the digitalization of oOh!media’s network and leverage its scale.
Regulatory Approval: Whether the transaction receives timely approval from Australian regulators and shareholders.
Market Positioning: The pace at which I Squared can expand oOh!media’s presence beyond Australia and New Zealand.