Press Releases
£5.5 million investment in Ocean Outdoor
The manager of premium, high impact, outdoor advertising sites across the UK
Smedvig Capital, the London-based private equity company active in development capital
for growth businesses is pleased to announce that it has invested £5.5 million in
Ocean Outdoor, a company managing iconic large scale advertising sites across the
UK.
Ocean Outdoor was founded in December 2004 and manages premium outdoor sites including giant format advertising on behalf of UK landlords. The service incorporates site design and build, marketing, sales, pricing, as well as installation and removal of the advertising. The Company's current estate includes several landmark locations across the UK including the IMAX cinema and Centrepoint in London and George Square in Glasgow - Scotland's largest digital screen advertisement.
Outdoor advertising is a one billion pound market which has grown consistently at around 5% per annum since 2001. Within this, large scale advertising is one of the fastest growing segments, offering advertisers a "high impact" medium at a time when other media such as television and radio are increasingly fragmented.
Ocean has grown quickly since its foundation led by a very strong management team with extensive industry experience. Chief Executive and Founder Damian Cox previously set up EK Strauss, before selling it to Clear Channel in 2004, incoming Development Director Mark Bracey founded the UK Division of Blow-Up Media while MD Grant Branfoot's previous experience includes 10 years at leading outdoor buying agencies, Posterscope and Helix.
Smedvig's investment will be used to fund working capital and the development of Ocean's strong pipeline of new sites.
Johnny Hewett, Chief Executive of Smedvig Capital commented: "The outdoor advertising market has huge potential and Ocean's senior team has strong and proven ability in the premium end of the market with a reputation for delivering "best of breed" quality. The Company already possesses a highly attractive portfolio of premium sites and we look forward to working with the team as they further expand the existing strong pipeline of new locations."
Damian Cox, Chief Executive of Ocean Outdoor, added: "Since our inception we have developed a unique portfolio of iconic sites, allowing us to achieve outstanding growth in a relatively short time. We are delighted that Smedvig Capital has chosen to partner with us to provide both financial and strategic support as we continue this rapid growth."
For further information please visit www.smedvigcapital.com / www.oceanoutdoor.comJohnny Hewett / Jordan Mayo
Smedvig Capital Ltd.
Tel: +44 (0)20 7451 2100
mailto:jh@smedvigcapital.com
Clemmie Carr / James Midmer (for Smedvig)
Tavistock Communications
Tel: +44 (0)20 7920 3150
ccarr@tavistock.co.uk
Damian Cox
Ocean Outdoor
Tel: +44 (0)20 7243 4588
Damian.cox@oceanoutdoor.com
Notes to Editors
Smedvig Capital
Smedvig Capital is a London based private equity firm that has been instrumental in the growth of over 30 businesses since its founding in 1996. Smedvig believes that equity investing should incorporate high levels of involvement and support, working with management on strategy, finance, operational improvements and business development initiatives. The team shares a common background in strategy consulting, with additional experience in operations, start-ups and banking. Other portfolio companies include Streetcar Limited the UK's leading car club, the UK's premier juice bar chain, Lovejuice and Almondy AB a leading Swedish cake business.
Direct investments are usually in UK businesses, from development capital through to small buyouts, equity commitment typically £2 to £10 million. Smedvig Capital is authorised and regulated by the Financial Services Authority.
Ocean Outdoor
Ocean Outdoor - Iconic sites for iconic brands
Ocean Outdoor specialises in premium, high-profile, giant format outdoor advertising locations. Its mission is to secure the most sought after media platforms and provide an unbeatable service to both landlords and advertisers.
Ocean Outdoor's product portfolio is unique; it includes Britain's largest advertising site at London's IMAX and Scotland's largest banner and largest digital screens at Glasgow's George Square. It is a portfolio that offers advertisers unrivalled out of home opportunities, with each location hand-picked to deliver maximum impact for the world's leading brands. And a portfolio that continues to develop, delivering new locations and the most advanced technologies to cities across the UK. Ocean Outdoor began trading in early 2005. Founded by Damian Cox, the company grew by over 500% in its last full trading year and is currently the second largest operator in the UK banner market.