M&A Deal Summary

Lloyds TSB Development Capital Acquires Ocean Outdoor

On May 17, 2012, Lloyds TSB Development Capital Ltd. acquired marketing company Ocean Outdoor Ltd. from Smedvig Capital for 35M GBP

Acquisition Highlights
  • This is Lloyds TSB Development Capital’s 1st transaction in the Marketing sector.
  • This is Lloyds TSB Development Capital’s 42nd largest (disclosed) transaction.
  • This is Lloyds TSB Development Capital’s 122nd transaction in the United Kingdom.
Investment Fate
  • Ocean Outdoor was sold to a financial buyer in 2014.

M&A Deal Summary

Date 2012-05-17
Target Ocean Outdoor Ltd.
Sector Marketing
Buyer(s) Lloyds TSB Development Capital Ltd.
Sellers(s) Smedvig Capital
Deal Type Secondary Buyout
Deal Value 35M GBP

Target

Ocean Outdoor Ltd.

London, United Kingdom
website
Ocean Outdoor is a UK giant format outdoor advertising industry. Ocean develops and manages a portfolio of iconic sites on behalf of landlords; including the IMAX cinema and Centrepoint in London.

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Buyer(S) 1

Buyer

Lloyds TSB Development Capital Ltd.

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. Lloyds TSB Development Capital Ltd was formed in 1981 and is based in London.


DEAL STATS #
Overall 127 of 254
Sector (Marketing) 1 of 2
Type (Secondary Buyout) 18 of 49
Country (United Kingdom) 122 of 244
Year (2012) 8 of 15
Size (of disclosed) 42 of 74
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-26 Bifold Fluidpower Ltd.

Manchester, United Kingdom

Bifold Fluidpower Ltd. is a designer and manufacturer of switching instrument valves and pumps for the oil and gas industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-21 BigHand Ltd.

London, United Kingdom

BigHand Ltd. provides the workflow software, including integrated speech recognition technology, that makes the creation, distribution and processing of voice files more efficient and secure. BigHand was founded in 1996 and is based in London, United Kingdom.

Sell £49M

Seller(S) 1

SELLER

Smedvig Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Venture Capital Firm
Founded 1996
PE ASSETS 1.7B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Smedvig Capital is a venture capital and business growth firm that typically targets investment opportunities in the UK. Smedvig seeks both direct buyout and growth capital investments and also makes investments in other third party private equity funds. Smedvig's direct investment practice targets equity investments of £2 to £15 million in businesses valued up to £30 million. Areas of interest include information management, financial services, consumer goods, retail, and support services. Smedvig Capital was formed in 1996 and is based in London.


DEAL STATS #
Overall 13 of 20
Sector (Marketing) 2 of 4
Type (Secondary Buyout) 2 of 4
Country (United Kingdom) 10 of 15
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-29 MediaMorph, Inc.

New York, New York, United States

MediaMorph, Inc. is a cloud computing software sector, providing business support to the media industry. MediaMorph was founded in 2007 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-28 Selstor AB

Stockholm, Sweden

SelStor is established to build and develop self storage sites across Sweden. SelStor has an exceptional management team with unique experience in the self storage sector.

Sell -