Founder earns £30m from sale
Trainer sells outdoor advertising firm in £32m deal
Celebrating Celtic’s participation in the Champions League
Chris Trainer has sold his outdoor advertising business Forrest Media to Ocean Outdoor in a deal worth £32 million.
The deal is the first since London-based Ocean was acquired in March for £200m by acquisitions vehicle Ocelot Partners in a move expected to be part of further M&A activity in the sector.
Forrest’s management team will continue under MD Marc Keenan with company founder Mr Trainer handed the role of Ocean Scotland chairman.
He is the third biggest shareholder in Celtic Football Club with a 10.45% stake and is thought to have made £30m from the Ocean deal.
Ocean has also entered into new long-term lease agreements with other Forrest Group entities for sites it owns.
Mr Trainer said: “Ocean are a fantastic market leading business and the combination today with Forrest Media now delivers a truly national ‘footprint’, which we believe will have very significant benefits in our industry, with great opportunities for the whole team.”
Ocean Outdoor’s portfolio includes sites in Edinburgh, Glasgow and Manchester. Chief executive Tim Bleakley said: “Forrest are the champions of Out of Home in Scotland and it’s a business we have long admired.
“This is a hugely exciting time for both companies and the sector. We are combining Scotland’s most iconic assets with Ocean’s unique technology and award-winning brand.”
In 2017, Forrest Media spearheaded a city-wide outdoor advertising campaign across Glasgow to celebrate Celtic’s participation in the Champions League.