The management team of Ocean Outdoor, backed by LDC (part of the Lloyds Banking Group), today (May 17), announced the buyout of the company from its early stage investors Smedvig Capital and others, for an undisclosed sum. This means that Ocean Outdoor will stay independent and have the resources to consolidate its market leading position in super premium large format digital and banner outdoor spectaculars.
Daniel Sasaki, Managing Director of LDC London said: “The Ocean team, led by Tom Goddard and Tim Bleakley, presented a compelling story of what has been achieved to date, together with their exciting plans for the future. This includes further expansion of its Premium location footprint, as well as pushing for a more central role as cross media digital audiences converge.”
Tom Goddard, Ocean’s Chairman said: “Securing the backing of LDC is a strong endorsement of the Ocean brand and team all of whom will be going forward with the business, led by our brilliant CEO, Tim Bleakley. There is an important role for Ocean to continue leading this key market sector and as such I believe this news will be welcomed across the whole media industry.”