M&A Deal Summary

Atairos Acquires Ocean Outdoor

On May 3, 2022, growth capital firm Atairos acquired marketing company Ocean Outdoor from Searchlight Capital Partners for 580M USD

Acquisition Highlights
  • This is Atairos’ 1st transaction in the Marketing sector.
  • This is Atairos’ largest (disclosed) transaction.
  • This is Atairos’ 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2022-05-03
Target Ocean Outdoor
Sector Marketing
Buyer(s) Atairos
Sellers(s) Searchlight Capital Partners
Deal Type Secondary Buyout
Deal Value 580M USD
Advisor(s) White & Case (Legal)

Target

Ocean Outdoor

London, United Kingdom
Ocean Outdoor is an operator of premium digital Out-of-Home (OOH) advertising in the United Kingdom, the Netherlands, the Nordics, and Germany. The Company operates a portfolio of large-format marquee OOH assets, including some of Europe’s most iconic outdoor advertising locations such as The Piccadilly Lights and the IMAX in London. Ocean Outdoor was formed in 2004 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Atairos

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2016
PE ASSETS 6.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Atairos is a generalist private equity firm focused on partnering with growth-oriented businesses. Atairos does not have any sector preferences and will consider opportunities across the US. Atairos was formed in 2016 and has offices in New York City and Philadelphia.


DEAL STATS #
Overall 13 of 13
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 3 of 3
Country (United Kingdom) 2 of 2
Year (2022) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-04 Opry Entertainment Group

Nashville, Tennessee, United States

Opry Entertainment Group is an operator of a music and stage show agency. Opry Entertainment Group is based in Nashville, Tennessee.

Buy -

Seller(S) 1

SELLER

Searchlight Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 860M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Searchlight Capital Partners is a private investment firm founded in 2010. The Firm will invest across the capital structure, including equity and debt and will consider a variety of transaction situations, from simple to complex. Areas of focus include communications, media, information, IT services, business services, financial services, consumer services, consumer products, education, and industrial goods/services. The Firm will consider opportunities across North America and Europe. Searchlight Capital has offices in New York, London, and Toronto.


DEAL STATS #
Overall 10 of 13
Sector (Marketing) 2 of 2
Type (Secondary Buyout) 3 of 3
Country (United Kingdom) 2 of 3
Year (2022) 4 of 4
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-30 TouchTunes

New York, New York, United States

TouchTunes operates an out-of-home network of interactive entertainment systems in North America. The Company offers digital-downloading and pay-per-play commercial jukebox to bars, restaurants, retailers, and entertainment centers. TouchTunes was founded in 1998 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-09 Hemisphere Media Group

Coral Gables, Florida, United States

Hemisphere Media Group is an operator of media company targeting the high growth Hispanic TV/cable networks business. Hemisphere owns and operates: Cinelatino, the leading Spanish-language movie channel available in more than 12 million homes in the U.S., Latin America and Canada; WAPA Television, Puerto Rico's leading broadcast station with the highest primetime and full day ratings in Puerto Rico; and WAPA America, the leading cable network targeting Puerto Ricans and other Caribbean Hispanics living in the U.S., with over 5 million U.S. subscribers. Hemisphere Media Group was founded in 2013 and is based in Coral Gables, Florida.

Buy -