Investec Growth & Acquisition Finance (GAF), part of Investec Specialist Bank, has provided LDC with a debt financing package to support the management buy-out of Ocean Outdoor (Ocean) from Smedvig Capital.
Ocean operates 28 sites across the UK and is a leading operator of digital ‘out of home’ advertising sites specialising in iconic digital advertising sites including the IMAX, a number of Westfield shopping centre sites and Two Towers West on the Hammersmith flyover.
LDC and Ocean aim to expand their portfolio of sites and to continue developing their existing portfolio of high quality sites.
Stephen White, Investec Growth & Acquisition Finance, says: "We are delighted to be supporting LDC and Ocean’s management in this transaction. Ocean is a fast growing, dynamic and exciting business and we are looking forward to backing management in achieving its stated growth plans.
“This was a complex deal in a challenging economic environment, but its successful conclusion reinforces Investec Growth & Acquisition Finance’s ongoing strategy of supporting high quality private equity sponsors and entrepreneurial management teams with whom we believe we can establish excellent working relationships.”
