The deal, for an undisclosed sum comprising cash and shares, further strengthens Ocean’s national DOOH footprint and in particular underpins its preeminent position in the key London, Birmingham, Liverpool, Leeds and Manchester markets. Signature’s co-founders, Gerry Bew and Steve George will join the executive team, led by CEO Tim Bleakley. The move provides the enlarged entity with the opportunity to trade independently, under two highly respected brands.
Signature will operate and manage its premium backlight portfolio and continue to develop heritage digital formats, whilst Ocean’s national network and The Grid will be significantly boosted by the infusion of Signature’s spectacular digital inventory and banners.
“This is a very exciting development for both companies, and will enable us to provide even more innovative communication and technological solutions for our Brand and Agency Partners,” said Ocean CEO Tim Bleakley.
Gerry Bew, co-founder of Signature commented: “Both Steve George and I really admire and respect what the Ocean team has achieved in a relatively short time span and are very proud to be joining force and supporting the next exciting and ambitious phase.”
Notes to Editors
- LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.
- LDC backs ambitious management teams from UK-based medium sized companies seeking up to £100m of investment to fund management buyouts or development capital transactions.
- LDC invests in a broad range of sectors and has particular experience in Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure, Support Services, Construction & Property and Financial Services.
- LDC has a UK regional network with locations in Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Newcastle, London, Manchester, Nottingham and Reading.