Advertising giant Ocean Outdoor agrees sale to largest investor


SOURCE: BUSINESS-LIVE.CO.UK
MAY 03, 2022

An outdoor advertising giant, whose sites include the Piccadilly Lights in London, has agreed a sale to its largest shareholder.

Ocean Outdoor has confirmed the deal with investment company Atairos after it first revealed the talks on April 13.

The company has also posted a revenue of £124.4m for 2021, up from £86.2m, while its pre-tax losses were slashed from £156.4m to £30.3m.

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The business has offices in London, Glasgow, Manchester and Birmingham and has partnerships with the likes of Wimbledon, the BBC, the NFL, Team GB and Formula E.

It has digital advertising boards in Aberdeen, Birmingham, Bournemouth, Bristol, Derby, Edinburgh, Glasgow, Leeds, Liverpool, London, Manchester, Newcastle , Norwich, Nottingham and Southampton.

Chief executive Tim Bleakley said: "We ended 2021 with all our territories open and capitalising on the surge in advertising spend, which culminated in a record Q4 performance for the group.

"Over the past three years, the group has transformed from a UK focused player into one of the most advanced DOOH operators in northern Europe, covering seven countries.

"Our decision to commit to our investment plans and grow our premium digital assets during the pandemic period has enabled Ocean to be at the forefront of the recovery.

"At the same time, the advancement in the capability of our network has supported brands in delivering some of the most impactful and memorable out of home campaigns we have seen."

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