Private equity firm Lonsdale Capital Partners has acquired a majority stake in Ocean Media Group, organiser of UK-based events, online solutions and a series of specialist publications.
The group’s current management team of David Moran and David Watt were supported by Lonsdale for the transaction and will continue to head up the company post-acquisition.
Moran has been involved in the business since 2003, prior to the original buy out from Trinity Mirror, and will become Ocean Media’s chairman, continuing his involvement in running the business.
Watt, who joined Ocean in 2012, will run the business on a day-to-day basis and will work closely with Lonsdale and David Moran on growing the Ocean portfolio.
James Knott, director at Lonsdale Capital Partners, said: “We are delighted to have supported the MBO of Ocean Media. Each of the three existing business divisions has extremely strong positions in their respective sectors, which is testament to the quality of their offerings.
“The business represents an excellent platform for growth, and we are looking forward to working with David and the team to help it realise its potential.”
Ocean Media’s online solutions focus mainly on three sectors: social housing, bridal and weddings, and the firm’s business lines have been established for more than 30 years.
The largest division is social housing, which hosts a raft of sector leading events and conferences including the flagship Housing 2016 in association with the Chartered Institute of Housing.
Ocean Media also run the eight National Wedding consumer shows covering London and the South East, the Midlands, the North West and the North East of the UK.
The third arm of the business is Bridal, a business-to-business portfolio of shows, a trade magazine and website.
Moran said: “Ocean Media is an incredibly strong business which has enjoyed substantial growth over recent years. In Lonsdale we have found the ideal partner to support our ambitious plans.
“The strength of Ocean is its great people, and the focus they have on providing a profitable and enjoyable interaction with any Ocean product for all of our customers. With the backing of Lonsdale we will continue to develop and grow.”
Got a story for EN? Email Annie Byrne