Case Study: Ocean Safety
- Deal size:
- Company Sales
- Deal completed:
- May 2014
Meridian Corporate Finance (“Meridian”) advised the shareholders of Ocean Safety Limited (“Ocean Safety”) on their sale to August Equity (“August”).
Based in Southampton with four additional sites around the UK, Ocean Safety specialise in the worldwide supply, distribution, service and hire of marine safety equipment including life rafts, lifejackets and EPIRBs.
Richard Besse, joint founder of Ocean Safety said of Meridian: “Thank you very much for all of your help over the last three years, the quality of your corporate finance advice was second to none! Your judgement of when to push and to back off in the process was brilliant. It has been a pleasure working with you and look forward to working with you in the future.”
Michael Barcia, Director at Meridian commented, “The Team and I worked with the joint shareholders of Ocean Safety over a period of time through which we built a great relationship. We turned down a number of offers during the process – but once the right structure was negotiated we worked closely with advisors on both sides to ensure a smooth a transaction as possible, completing the deal in eight weeks from signing Heads of Terms.
Ocean Safety was a strategic platform investment for August Equity and is now part of Safety and Survival Systems International Ltd (“3Si”) an international marine safety group servicing the commercial, leisure and military markets.”