PE-Backed LED Display Maker Watchfire Signs Makes Its First Industry Acquisition

October 24, 2022 by Dave Haynes

Large-format LED display maker Watchfire Signs has made its first acquisition since its own purchase earlier in the year – with the now private equity-backed firm buying the assets of Anthem Displays in rural North Carolina.

Based in Elizabethtown, NC, Anthem Displays was a digital billboard manufacturer since 2014, majority-owned the last couple of years by a graphics firm. Anthem has been focused on outdoor billboards and has more than 350 in the field, while Watchfire – best known for designing and supplying the Fremont Street LED canopy in Las Vegas – has more than 65,000 displays in the field.

“We fully intend to support legacy Anthem products and will work with customers to ensure a seamless transition,” says Steve Harriott, CEO of Watchfire.

“Watchfire is a terrific company with a world-class team, product, and wealth of experience. We are very confident that Watchfire will provide a good home for Anthem customers and that existing units will be well-maintained and serviced. We wish the Watchfire team every success going forward,” says Rod Rackley, founder of Anthem displays, who now serves as the President of OOH at Circle Graphics. Circle Graphics purchased a majority stake in Anthem in 2020.

H.I.G. Capital, which has $50 billion of equity capital under management, acquired Watchfire earlier this year.

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