- Vendo was created this year through Signpatico’s acquisition of Media City
- Forum’s investment was made through Forum Urban Infrastructure Opportunities Fund I
Forum Asset Management has announced a growth equity investment in Vendo Media, a Canadian out-of-home media infrastructure company. No financial terms were disclosed.
The investment’s proceeds will be used to complete the acquisition of Media City Pub as well as funding Vendo’s future growth.
Vendo was created this year through Signpatico’s acquisition of Media City. The two companies began working together in October 2020 through a joint sales and marketing partnership under the Vendo brand. The company is now led by James McDonnell, CEO (former CEO of Signpatico) and Sylvio Deluca, president (former CEO of Media City).
Forum’s investment was made through Forum Urban Infrastructure Opportunities Fund I.
“Out-of-home media is a well-established asset class and offers strong value propositions to stakeholders across the advertising value chain,” said Duncan Ramage, managing partner of private equity at Forum. “We believe VENDO provides an attractive opportunity to build a strategically relevant portfolio of media infrastructure assets in attractive and growing markets across Canada.”
Based in Toronto, Forum is an alternative asset manager and investor that focuses on real estate, private equity and infrastructure across North America. It has $1.7 billion in assets under management and is headquartered in Toronto.