bMedia Group Receives Investment from Crestline Investors and Seaport Capital

December 13, 2022

bMedia Group (“bMedia” or the “Company”), Puerto Rico’s undisputed leader in the out-of-home (“OOH”) sector and one of the leading media companies of Puerto Rico, announced today it received a significant ownership investment from Crestline Investors, Inc. (“Crestline”), a credit-focused institutional alternative asset manager, to further accelerate its growth trajectory. bMedia’s existing institutional investor, Seaport Capital (“Seaport”), also invested fresh equity alongside Crestline.

bMedia, headquartered in San Juan, Puerto Rico, was co-founded in 2009 by current CEO Juan Casillas and has grown its network to over 300 billboards, transforming it into Puerto Rico’s leading OOH company and one of the island’s leading media companies. Today, nearly half of bMedia’s billboards are digital, creating one of the most dynamic and sophisticated OOH companies in the world. bMedia’s success is enabled by an exceptional management team of industry veterans that will continue to lead the Company.

“bMedia is thrilled about this new chapter. We have built a unique market-leading asset in line with current consumer media trends that provides value to our clients and fosters Puerto Rico’s economic development. With Crestline and Seaport’s backing, as well as the awesome team we have at bMedia, the Company is well positioned to take upon new and exciting growth initiatives that will continue to deliver upon our vision of helping brands connect with their customers and reach them effectively,” said Juan Casillas, founder and CEO of bMedia.

“Juan and his team have done an exceptional job building bMedia into the market leader it is today,” said Will Palmer, Managing Director at Crestline. “We have known the bMedia team for a number of years, believe they are visionaries in the industry, and are consistently impressed with their capabilities. We look forward to supporting continued organic and inorganic growth at the Company.”

“Having been invested in bMedia since 2014, we are elated by the success that bMedia has realized since,” said Bob Tamashunas, Partner at Seaport Capital. “Seaport has invested in the OOH industry for over 25 years, and we believe that bMedia continues to represent one of the most robust, differentiated, and dynamic OOH companies. We are excited about our further investment in bMedia and partnering with the team to build on the success in the years to come.”

Lazard represented the Company during the transaction process.

About bMedia Group
bMedia Group is an operator of out-of-home properties across Puerto Rico. The Company mainly offers standard and gigantic bulletins in digital and static formats combined with strategic advertising services to multinational and local brands. bMedia Group was established in 2009 and is based in Puerto Rico. For more information, please visit

About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm. Crestline specializes in credit and opportunistic investments, including providing flexible capital solutions to middle market companies, asset backed investing and financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund and provides beta and hedging solutions for institutional clients. Headquartered in Fort Worth, Texas, the company maintains affiliate offices in New York, London, Toronto and Tokyo. For more information, please visit

About Seaport Capital
Founded in 1997, Seaport Capital is a lower middle-market buyout firm that invests in communication infrastructure and services, business and information services, and media companies (the “Focus Sectors”). Seaport typically invests $10 to $40 million of equity capital and is currently investing through Seaport Capital Partners VI, a 2020 vintage fund. Seaport’s substantial industry expertise and investing experience enable it to develop successful strategies in partnership with management teams; its relationships and professionals help achieve them. Nearly all of Seaport’s platform investments have been owned by founders or entrepreneurs seeking a collaborative institutional partner to provide the financial and operational resources to grow their businesses and execute on a successful strategic plan. For additional information, visit