Ocelot Partners acquires Ocean Outdoor and eyes further consolidation of the sector
Out-of-home advertising ripe for consolidation with Ocean Outdoor acquisition
Aiming to unify the fragmented landscape of the sector at present, Ocelot will rebrand itself as Ocean Outdoor Ltd upon closure of the deal on 28 March to capitalise on the established presence of the UK market leader which reported full year revenues of £67m in 2017.
Building on Ocean’s existing strengths and organic growth Ocelot will target further acquisitions in order to scale Ocean’s existing operations.
Ocelot co-founder Aryeh B. Bourkoff said: "Ocean Outdoor is a great company that can seize the opportunity to scale across the UK and Europe, with a very strong management team that is leading the innovative, digital and data-driven wave transforming out-of-home media. Highly cash flow generative assets, growth and future consolidation potential make Ocean an ideal platform acquisition."
Jefferies acted as exclusive financial adviser to Searchlight Capital Partners on the £200 million deal.
Ocean Outdoor recently completed a hi-tech overhaul of London's iconic Piccadilly Circus.