Advertising company acquisition is Deal of the Month
THE transaction which saw one of Birmingham’s leading advertising companies being acquired by a national rival has been chosen as our Deal of the Month for August.
Established in 2003, Signature Outdoor is the market leader in so-called premium large format outdoor media in Birmingham and the West Midlands.
The company, which has recently moved offices to Two Snowhill to accommodate future growth has been acquired by Ocean Outdoor. The terms of the deal were not disclosed.
Private equity firm LDC backed a £35m buyout of Ocean Outdoor from its early-stage investors led by Smedvig Capital in July 2012.
Headquartered in London and founded in 2005, Ocean is a boutique media company specialising in large-format digital billboards, iconic landmark and premium banner locations.
The deal further strengthens Ocean’s national Digital Out of Home (DOOH) – the digital media used to market or advertise brands outside of homes. In particular, it underpins its preeminent position in the key London, Birmingham and Manchester markets.
Signature’s co-founders, Gerry Bew and Steve George will join the executive team, led by CEO Tim Bleakley. The move provided the enlarged entity with the opportunity to trade independently, under two highly respected brands.
A team at mid-market advisory firm Clearwater International led by partner Paul Newell, assistant director Rob Burden and manager James Clifford, advised Signature’s shareholders on the deal.
Law firm Browne Jacobson, led by Gavin Cummings and Tina Robinson, advised the sellers.
Explaining the Deal of the Month choice, TheBusinessDesk.com editor Andy Coyne said: “The term win-win is overused but it does seem appropriate in this case as joining forces with Ocean will significantly enhance Signature’s proposition to the market while enhancing Ocean’s standing outside London.
“And it was great to see Midlands-based advisers such as Clearwater International and Browne Jacobson at the heart of the deal.”
