Searchlight buys Ocean Outdoor from LDC

The deal, which is expected to complete in mid-January 2015, marks the 13th exit of 2014 for LDC.

The GP had acquired its stake in Ocean Outdoor from Smedvig Capital in a £35m buyout in May 2012. Smedvig had injected £5.5m into Ocean in exchange for a majority stake in 2008.

Ocean Outdoor acquired West Midlands-based Signature Outdoor in a deal understood to be worth £15m last summer. Following the transaction, Signature's digital sites and banners joined Ocean's portfolio.

Company
Established in 2005 and based in London, Ocean is a boutique media company focusing on large-format digital billboards. It operates sites across the UK including the London IMAX and the Liverpool Media Wall.

People
Oliver Haarmann worked on the deal for Searchlight Capital Partners. LDC was represented by David Andrews.

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• Topics
• UK / Ireland
• Buyouts
• Exits
• Media
• LDC
• Secondary buyout
• United Kingdom