Lonsdale takes majority stake in Ocean Media

Ocean's current management team of David Moran and David Watt received the support of Lonsdale for the transaction and will continue to head up the company post-acquisition. The management team previously led the group's carve-out from Trinity Mirror in 2003.

Lonsdale's strategy for Ocean includes organic and acquisitive growth, with the GP considering several bolt-ons.

Debt
The deal included a debt package from Santander, which also stated it would be open to providing additional credit facilities to support bolt-on acquisitions in the future.

Company
Ocean is a provider of media, events and marketing covering three sectors: bridal, weddings and social housing.

The London-headquartered company was founded in 2003 as a carve-out from UK-based publishing group Trinity Mirror in 2003, though the history of its publications goes back three decades.

People
Lonsdale director James Knott led the deal for the GP. David Moran is the chairman of Ocean.

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• Topics
• UK / Ireland
• Buyouts
• Media
• United Kingdom
• Santander