Ocean Outdoor, which trades under brand names ‘Ocean’ and ‘Signature’, is an independent British company, specialising only in large-format digital and super-premium banner locations, Ocean creates inspirational canvases for inspirational advertising.
In 2012 LDC backed a £35million buy-out of Ocean Outdoor from its early-stage investors led by Smedvig Capital. LDC’s backing secured Ocean Outdoor’s independence and provided the company with the resource to continue to develop its leading position in the iconic, large-format digital and banner outdoor advertising market.
In 2014, with the support of LDC, Ocean Outdoor acquired Signature Outdoor, the market leader in premium out of house media in Birmingham and the West Midlands. The move has allowed the company to increase its national footprint and has provided the resources to further develop innovative digital solutions for its global customer base.
Since LDC’s original investment the business has grown from EBITDA of £4.5million (2011) to £10.2million (2014) also increasing employees from just 24 (2011) to 35 (2014). The business also won numerous awards including Campaign Media’s Outdoor Sales Team of the Year (2014).
In 2015, Searchlight Capital acquired the entirety of LDC’s stake in Ocean Outdoor, this deal marked 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. The transaction provided an excellent return for LDC, delivering a money multiple of more than 2.8x the original investment.
It has been immensely rewarding working with 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.Investment Director, LDC