This month saw the announcement from Ocean Outdoor that Searchlight Capital Partners LP have acquired LDC’s entire stake in the business. The iconic digital Out-of-Home company trades under the Ocean and Signature brand names.
The move marks the start of Ocean’s third expansion phase, which includes international development, alongside its UK big city growth initiative programme and further investment in innovative technologies that enhance both consumer and brand interaction.
Tim Bleakley, CEO at Ocean Outdoor, commented:
The next chapter will be the most exciting element of our long term growth plan and will enhance the value to our customers of both the Ocean and Signature businesses. The opportunities out there not only offer huge potential, but will redefine the out of home advertising market and its relevance in helping brands achieve their business objectives. We are pleased to be partnering with Searchlight and excited by their approach and belief in the sector and in our plan.”
Oliver Haarmann, Founding Partner of Searchlight Capital Partners LP, stated:
We believe in the long-term growth potential of digital Out-of-Home advertising and are excited to partner with Ocean’s management team, who have an accomplished track record of successful innovation.
David Andrews, Investor Director at LDC, explained:
“It has been immensely rewarding working with Tom, Tim and the very successful Ocean management team over the past two and a half years. The company has enjoyed rapid growth and built an award winning reputation. We wish the team continued success for the future.”