Following press release dated January 9, 2018, announcing discussions to merge activities of Prismaflex USA and Anthem Displays, LLC, and press release dated February 16, 2018, announcing the successful capital increase of € 1.8 million by way of private placement, Prismaflex International today confirms the acquisition of 50% of Anthem Displays, LLC.
A new entity has been created, to which both Prismaflex USA and Anthem Displays have contributed their balance sheets. This new entity is named Anthem Displays, LLC, the company formerly known as Anthem Displays, LLC, being renamed AD Membership, LLC. This new company, registered in North Carolina, is owned 50% by Prismaflex International and its subsidiary Prismaflex USA, and 50% by AD Membership, LLC. Following this operation, Prismaflex International will consolidate the new entity in its FINANCIAL statements starting fiscal year ending March 2019.
This key strategic move will enable Prismaflex International to strengthen its position on the US market and to speed up commercial deployment on one of the largest LED display markets. The association of a renowned local player that manufactures in the USA and the technical and business reputation of Prismaflex USA, mainly through OOH independent networks, represents significant assets to increase the resulting entity's market share on the American continent.
About Prismaflex International
Located near Lyon, France, Prismaflex International is a company specialized in the design and commercialization of advertising displays and street furniture around the world, a European manufacturer and integrator of LED screen displays and provider of wide format digital printing solutions. Its consolidated turnover for fiscal year ending March 31, 2017, was approximately € 50.1 million.
About Anthem Displays, LLC
Located in Boulder, Colorado, Anthem Displays, LLC, covers the full value chain from the design and production through to the commercialization of its LED displays. The company provides a range of standardized products enabling it to ensure outstanding value for money to OOH advertising companies and includes Lamar Advertising among its customers, a company that operates the largest network of LED billboards in the United States. Anthem Displays reached total sales of $ 2.9 million in 2017 and forecast around $ 7 million for 2018.
Press release: Yearly turnover 2017/2018 (April 1 – March 31), May 14, 2018 after closing
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