Equistone supports Talon with double bolt-on acquisitions of Evolve and Novus Canada

Talon, the global independent Out-of-Home (OOH) media agency backed by Equistone Partners Europe (“Equistone”), has completed two bolt-on acquisitions, representing an additional £100m in billings, to bolster its ongoing international expansion. The acquisitions of Evolve, a fast-growing, specialist international OOH business, and Novus Canada, a leading OOH media agency based in Canada, are the first transactions announced by Talon since Equistone, a leading European mid-market private equity firm, invested in the business in July 2022. The financial terms of the transactions are undisclosed. 

Evolve, headquartered in London with offices in Singapore and New York, is a multi-award-winning and independent specialist international OOH business with a highly experienced and knowledgeable team that works with clients to create campaigns for global brands and agencies. The transaction further strengthens Talon’s position as an international market leader in OOH advertising and enhances its relationships with the 300 media owners in 65 markets that Evolve services. 

Under the ownership of Novus Media LLC, Novus Canada has delivered campaigns for some of the world’s largest OOH advertisers, working alongside agency partners such as Omnicom Media Group. In the past four years, the agency has grown into one of the largest and most respected OOH agencies in Canada. With the Canadian OOH market poised to achieve 12% growth in 2023, the acquisition of Novus Canada establishes a foothold and improves Talon’s ability to serve existing and new cross-border clients with the specificity the Canadian market requires. Novus Canada provides a foothold into the attractive Canadian OOH market, which is poised to achieve 12% growth in 2023, and improves Talon’s ability to serve existing and new cross-border clients with the specificity the Canadian market requires. 

Headquartered in London with offices in Dubai, Dublin, Frankfurt, Manchester, New York, San Diego, Nashville and Singapore, Talon works with global brands to deliver innovative media solutions for OOH at global, national and regional levels. Equistone’s support in the acquisition of these two companies is part of an ambitious value creation and global expansion plan to ensure the company is best positioned to capitalise on the current renaissance of OOH, which continues to be driven by advancements in digital and data technology. In addition to the acquisitions of Evolve and Novus Canada, Equistone has supported the organic growth of the business through the recent opening of new offices in Asia-Pacific and the Middle East. 

Paul Harper, Partner at Equistone, said: “We’re continuing to work with Talon’s first-class senior management team to deliver our collective ambition to create the global leader in Out-of-Home advertising. These acquisitions mark an important step in Talon’s buy-and-build strategy, which complements the strong underlying organic growth.  Talon is at the forefront of the global OOH market, driving innovation through disruptive tools and technology, helping to underpin long-term favourable market dynamics.” 

Barry Cupples, Talon Group CEO, added: “Our global agency scale and innovation focus sets us apart and the additions of independently reputable Evolve and Novus Canada mark another important step in our growth strategy. As a leading global independent OOH agency, we’re delivering best-in-class services, data and technologies that enable brands to take advantage of a resurgent Out-of-Home market.”