LDC's Ocean Outdoor buys Signature

Following the transaction, Signature's digital sites and banners will join Ocean's portfolio.

Previous funding
LDC acquired Ocean from Smedvig Capital in a £35m buyout in May 2012.

Smedvig injected £5.5m into Ocean in exchange for a majority stake in 2008.

Company
Signature operates large format outdoor media sites and banners in London, Birmingham, Liverpool, Leeds and Manchester. The company was founded in 2003.

Established in 2005 and based in London, Ocean is a boutique media company focusing on large format digital billboards. It operates 28 sites across the UK including the Hammersmith flyover and Westfield shopping centre.

People
Following the deal, Signature's co-founders Gerry Bew and Steve George will join Ocean's management team, led by CEO Tim Bleakley.

Advisers
Company - Clearwater International, Paul Newell, Rob Burden, James Clifford (Corporate finance); Browne Jacobson, Gavin Cummings, Tina Robinson (Legal).

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• Topics
• Portfolio management
• UK / Ireland
• LDC
• United Kingdom