M Core takes full ownership of Smart Media Group, names new CEO
What's the deal? M CoreDealroom has a profile for this one. Try Dealroom → has acquired full ownership of UK digital out-of-home (DooH) operator Smart Media GroupDealroom has a profile for this one. Try Dealroom →, buying out founder Mark Catterall and other founding shareholders. M Core first invested in Smart in July 2024 and is now committing additional capital for expansion. Terms were not disclosed.
The new hire: Steve White, a former non-executive director of Smart and ex-global marketing director at JD SportsDealroom has a profile for this one. Try Dealroom →, becomes chief executive officer effective immediately. He replaces Catterall, who is stepping back from executive duties.
Why now? Catterall, who has lived with Parkinson's disease since founding the company in 2019, is preparing for a medical procedure. "It needs proper time to recover from, and that made this the right moment to step back," he said. He will stay on during a transition to hand over client relationships and intends to return to the sector after recovery.
What's the endgame? The full buyout is meant to simplify decision-making and speed up network growth, especially across retail properties. Smart expects to benefit from closer ties to M Core's UK retail estate.
By the numbers: Founded in Sunderland, Smart operated about 450 screens when M Core first invested in 2024. Its network now tops 2,000 screens across high streets, retail sites, leisure destinations, sports venues, and fuel forecourts.
What else? Smart's portfolio includes a national digital forecourt partnership with Shell and a retail media network built with the Co-operative Group. It also runs Smart Hub, its proprietary platform for campaign planning, sales, and delivery.
The signal: "Taking full ownership allows us to accelerate Smart's growth," said Max Percy, chief executive officer of M Core Ventures, pointing to closer integration with M Core's retail estate. The deal reflects how out-of-home operators are consolidating to scale screen networks and tie advertising inventory to retail footprint.
Read more: invidis.com
Image credit: Smart Media Group
