Exterior Plus

Who owns Exterior Plus?

Exterior Plus is a Spanish TMT company, currently owned by Eurazeo since 2025.

About Exterior Plus

Exterior Plus is a Spanish out-of-home advertising company that operates one of the country's largest networks of physical and digital display inventory across five environments: airports, street furniture, shopping centres, car parks and large-format billboards. Its estate spans more than 50,000 advertising faces, including over 30,000 static panels and roughly 2,000 digital out-of-home (DOOH) screens, giving the group reach into an estimated 95 percent of the Spanish audience. The company holds premium positions at Spain's two busiest airports, Madrid-Barajas and Barcelona-El Prat, which together handled more than 125 million passengers in 2025, and it manages advertising circuits across dozens of shopping centres nationwide. Exterior Plus has positioned itself at the forefront of Spain's programmatic DOOH shift, running a hybrid model that combines directly sold guaranteed placements with automated, data-driven buying, and layering on tools such as its Geoohub planning platform and its HYPE experiential division. On a 2023 revenue base of about EUR 47 million, it ranks among the leading operators in the Spanish outdoor media market.

Ownership journey

Exterior Plus was established in Spain in 2015 and quickly consolidated a national footprint in outdoor advertising. In 2016, H.I.G. Capital became the company's controlling shareholder, backing a period of network expansion, digitisation and the build-out of programmatic capabilities. On 27 December 2025, Eurazeo agreed to take control of Exterior Plus, providing an exit for H.I.G. after nearly a decade of ownership. Eurazeo, the Paris-based listed investment group, is the current equity owner and has framed the deal as support for the company's next phase of growth and a strengthening of its governance. Financial terms of the transaction were not disclosed.

Under PE ownership

Under H.I.G.'s ownership from 2016, Exterior Plus invested heavily in digitising its estate, growing its DOOH screen count and integrating its main digital inventory into programmatic marketplaces. The company connected roughly 99 percent of its principal digital displays to Broadsign's Place Exchange supply-side platform, opening its inventory to more than 55 demand-side platforms and enabling real-time, audience-based buying alongside its traditional direct sales. It launched programmatic DOOH activation at Madrid-Barajas and Barcelona-El Prat, making airport screens available for automated campaigns, and expanded its data and measurement tooling through Geoohub and dynamic creative optimisation. With Eurazeo's backing from December 2025, the company is positioned to continue digitising street furniture, deepen automation, and pursue the next stage of growth in a Spanish market still rebuilding toward its pre-pandemic revenue peak of around EUR 49 million.