Creates 4th Largest Traditional Outdoor Advertising Company in the U.S.

WASHINGTON and NEW YORK, June 20, 2012 -- ACON Investments and MidOcean Partners announced today that they have merged their respective portfolio companies, Fairway Outdoor Advertising LLC and Olympus Media LLC, to form Fairway Media Group LLC ("Fairway Media"). The combined company has more than 21,300 bulletin and poster displays in 17 states across the Southeast and Midwest and is now the fourth largest traditional outdoor advertising company in the U.S. The company will be headquartered in Greenville, South Carolina in the current headquarters of Fairway. Mark Moyer, the current Chief Executive Officer of Fairway Outdoor, will be the Chief Executive Officer of Fairway Media.

"We believe this transaction will drive tremendous growth and value," said Ken Brotman a Founding Partner of ACON. "The combined company will have the increased scale and market presence to continue growing and investing in new technologies, but more importantly, to continue providing customers with a cost-effective advertising medium for them to bolster and improve their bottom line as the economy continues to recover."

Tyler Zachem, Managing Director at MidOcean said, "We are excited about merging Olympus with Fairway Outdoor to create a truly unique asset within the outdoor advertising industry. We believe there are numerous opportunities to continue to grow Fairway Media both organically and through acquisition, in both existing and new markets."

Mark Moyer, Fairway Media's Chief Executive Officer added, "Fairway Outdoor is excited about combining with Olympus to more fully exploit the growth opportunities available in the outdoor advertising industry including digital technology, new measurement systems, tuck-in acquisitions and other future growth opportunities. Building on the success that both Fairway Outdoor and Olympus have achieved to date, we believe this combination represents an excellent opportunity for the employees, customers, shareholders, local communities and other key stakeholders in Fairway Media."

Hogan Lovells LLP served as legal advisor to ACON. Kirkland & Ellis LLP served as legal advisor to MidOcean.

About ACON Investments:

ACON Investments is a Washington D.C.-based private equity investment firm that manages private equity funds and special purpose partnerships in the United States and Latin America. Founded in 1996, ACON and its principals have managed over $2 billion of capital. ACON pursues a theme-based investment strategy by focusing on industries and businesses at key inflection points in their development and pursues these opportunities in close partnership with established management teams. ACON has offices in Washington, Los Angeles, Madrid, Mexico City and Sao Paulo. For more information visit www.aconinvestments.com

About MidOcean Partners:

MidOcean Partners is a premier private equity firm headquartered in New York focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. Targeted sectors include consumer, media and communications, business and financial services and industrial services. MidOcean utilizes a broad foundation of expertise in its focus industries to create value for its investors and partners. For more information, visit www.midoceanpartners.com .

ATLANTA BUSINESS CHRONICLE

SMALL PRIVATE COMPANY

CFO OF THE YEAR FINALIST

CLAY HERRON

Olympus Media LLC  

Clay Herron’s arrival last year at Olympus Media LLC came at a time of rapid expansion and change – and he fit right in.

Since joining the company, Herron has taken the financial reins and is credited with transforming its finance and accounting division by improving communications between its Atlanta headquarters and its regional operating organizations, forming a strong base from which Olympus is poised for continued progress and growth.

That divisional transformation includes closer management of financial planning, accounting, and merger and acquisition activity plus expanding the accounting team with several key hires.  For his achievements at Olympus, Herron is a finalist in the Small Private Company category for Atlanta Business Chronicle’s 2012 CFO of the Year awards.

Herron also managed a general overhaul of the organization’s GAAP that included moving its auditing from a small regional firm to a Big Four accounting firm.

Additionally, he has successfully managed the integration of a large acquisition in Olympus’s operations, along with the completion of four M&A transactions that included two tuck-under acquisitions and two strategic asset divestures.

Herron is known for investing time and thought into performance coaching, assessment and guidance to help create a platform of future career success for others.

Herron has been praised for helping Olympus Media see its 2011 revenue jump by 55 percent and operating revenues by 95 percent, plus the implementation of a new budget process that adds to the role of the company’s operations team.

Herron also facilitated a set of well-documented corporate governance guidelines and improved board reporting.

Before joining Olympus, Herron’s 20-plus years of experience as a senior financial executive included service at TEOCO Corp. as executive director and senior principle, and handling the CFO duties at Vero Systems Inc., TWS International, and BellSouth International in Ecuador.  He also held a previous position in financial and business planning at BellSouth.

Herron attended college in Nashville, earning a bachelor’s degree in economics and an MBA in finance and accounting from Vanderbilt University.  His community involvement includes activities with the Cathedral of St. Philip in Buckhead.