Adrian J Cotterill, Editor-in-Chief
Leading iconic digital out of home company Ocean Outdoor, which trades under the Ocean and Signature brand names, announced today that Searchlight Capital Partners LP has acquired LDC’s entire stake in the business.
Announcing the new investor partner, Ocean Chairman Tom Goddard said: “This move marks 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.”
Oliver Haarmann, Founding Partner of Searchlight Capital Partners LP, was quoted as saying “We believe in the long-term growth potential of digital out of home advertising and are excited to partner with Ocean’s management team, who have an accomplished track record of successful innovation.”
Tim Bleakley, Ocean CEO, said: “The next chapter will be the most exciting element of our long term growth plan and will enhance the value to our customers of both the Ocean and Signature businesses.
“The opportunities out there not only offer huge potential, but will redefine the out of home advertising market and its relevance in helping brands achieve their business objectives. We are pleased to be partnering with Searchlight and excited by their approach and belief in the sector and in our plan.”
About Searchlight Capital Partners LP
Searchlight is a global private investment firm with offices in London, New York and Toronto. Searchlight seeks to invest in businesses and accelerate value creation for all stakeholders through its long term capital and strategic support.
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