In a landmark transaction in July, Baton Rouge-headquartered Lamar Promoting Co. acquired Tempe, AZ-based Verde Outside utilizing the first-ever UPREIT deal within the billboard {industry}. Quite than choosing money or inventory, Verde contributed greater than 1,500 billboard faces, together with 80 digital shows throughout 10 states, to Lamar Promoting Restricted Partnership (“Lamar LP”) in alternate for frequent partnership items in Lamar LP.

These UPREIT (Umbrella Partnership Actual Property Funding Belief) items mirror Lamar’s public shares in worth and dividends, and could be transformed into frequent inventory. However in contrast to conventional offers, the UPREIT construction permits Verde’s homeowners to defer taxes.

Lamar CEO Sean Reilly described the transaction as a strategic milestone that might pave the best way for additional growth.  “We anticipate this UPREIT construction to change into a template for future acquisitions with homeowners who wish to diversify their asset bases in a tax environment friendly method.”

The acquisition considerably expands Lamar’s footprint throughout the Midwest, Southeast, and Mid-Atlantic areas, whereas additionally establishing a brand new precedent for M&A within the fragmented out-of-home media sector. The introduction of the UPREIT mannequin provides Lamar a scalable and tax-savvy framework to draw future companions—particularly these searching for a mix of liquidity and long-term fairness participation.

Lamar, based in 1902, is a powerhouse within the out of doors promoting {industry}. The corporate’s method to development combines three parts – assemble extra billboards; convert static, or conventional, billboards to digital; and purchase the competitors. The corporate has greater than 360,000 shows throughout the U.S. and Canada, of which greater than 5,000 are digital. It has operated as a REIT for 20 years. Trailing twelve-month income via June 30, 2025 was $2.23 billion, in response to Pitchbook.

Two different Louisiana public firms additionally introduced acquisitions in July.

Investar Strengthens Texas Footprint in $84M Wichita Falls Merger

Investar Holding Company, mum or dad firm of Investar Financial institution, entered right into a definitive settlement to accumulate Wichita Falls Bancshares, the holding firm for First Nationwide Financial institution in North Texas, in a cash-and-stock deal valued at roughly $83.6 million.

The acquisition will deliver $1.5 billion in property, seven branches, and two mortgage workplaces into the Investar platform, boosting its complete property past $4 billion and establishing a agency foothold within the North Texas area. To help the deal, Baton Rouge-based Investar raised $32.5 million via a personal placement of convertible most well-liked inventory, strengthening its capital base for this and future development initiatives.

CEO John D’Angelo described the deal as “greater than a strategic transfer; it’s a strong alignment of values and function,” he stated, emphasizing how the merger broadens Investar’s Texas presence whereas sustaining its neighborhood banking mission.

Pending shareholder and regulatory approvals, the transaction is predicted to shut within the fourth quarter of 2025.

b1BANK Expands North Louisiana Attain with Progressive Financial institution Merger

Enterprise First Bancshares Inc., the mum or dad firm of b1BANK, introduced a definitive all-stock settlement to accumulate Monroe-based Progressive Bancorp Inc. and its subsidiary Progressive Financial institution, a strategic transfer that deepens b1BANK’s presence throughout North Louisiana.

The acquisition will add 9 branches and roughly $752 million in property to b1BANK’s footprint, bringing complete property to about $8.5 billion. Progressive shareholders will obtain roughly 3.05 million shares of Enterprise First frequent inventory, representing an estimated 9.3% possession within the mixed entity.

A press release by Baton Rouge-based b1BANK says that the deal will place it to carry the highest deposit market share amongst Louisiana-based banks, additional solidifying its function in an more and more aggressive regional banking panorama.  The transaction can even place b1BANK to benefit from the financial improvement anticipated in Northeast Louisiana from Meta’s $10 billion AI-optimization knowledge heart.  The financial institution has seen a lot of its latest development in Texas, which accounted for practically 31% of deposits and 41% of loans at December 31, 2024.

The Progressive deal is predicted to shut in early 2026.

G.F. Homosexual Le Breton is managing director for Chaffe & Associates Inc., liable for the company finance actions of the agency. Mitch Murray is a company finance analyst with the agency. Funding banking providers are supplied by Chaffe Securities Inc., member FINRA/SIPC. For extra data, go to http://chaffe-associates.com.