Ocean Group partners with Searchlight Capital

Digital out of home company Ocean Outdoor has today announced that Searchlight Capital Partners LP has acquired LDC’s entire stake in the business.

Announcing the new investor partner, Ocean chairman Tom Goddard said the move marks the start of Ocean’s third expansion phase, which includes international development, UK city growth and further investment in technology.

LDC, a regional mid-market private equity house, had been partners with Ocean Outdoor for two and a half years. Now Searchlight, a global private investment firm with offices in London, New York and Toronto, seeks to invest in businesses and accelerate value for all stakeholders through its long term capital and strategic support.

Commenting on the deal, Oliver Haarmann, founding partner of Searchlight, said: “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, added: “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.”