Raising capital

Ocean Coatings

Advisers to marine coatings specialists, Ocean Coatings, in securing angel investment.

The deal

We’re pleased to have acted as lead Corporate Finance adviser to Ocean Coatings, a growing North East business, in securing angel investment to support its future growth plans.

Ocean Coatings Limited, founded by Keith McGregor and established in 2015, specialises in the development and commercialisation of specialist coating products for the marine and offshore sectors. The business is preparing for its next stage of expansion having created a unique portfolio of products with applications in the marine and offshore sectors.

The injection of growth capital has been made by an experienced, North East-based angel investor with a successful track record in developing, scaling and rolling-out similar products into international markets. The investment will enable Ocean Coatings to build its team, expand its operations and accelerate product development as it targets significant progress across a number of markets over the next 12 months.

Our Corporate Finance team led by Partners Phil Williams and Abu Ali supported the transaction on behalf of Ocean Coatings from start to finish, including making the introduction to the investor.

Phil Williams, Partner at FRP Corporate Finance, said: “It was a pleasure to help to secure this transformational investment for Ocean Coatings and I look forward to watching the business go from strength to strength. This is another transaction which shows that North East entrepreneurs, advisers and investors can come together to create great opportunities for the region.”

Keith McGregor, Founder of Ocean Coatings, said: “I am excited and confident about the success we can achieve together with the benefit of having an investor on board who brings vast experience and knowledge to the table. This would not have been possible without the Newcastle team who have demonstrated a supportive, committed and highly commercial approach from day one.”

Deal summary

Date:

December 2019

Sector:

Industrials and Manufacturing

Deal type:

Raising Capital

Deal size:

Undisclosed

Related team

Phil Williams

Phil Williams

  • Partner
  • Corporate Finance
  • Newcastle Centre

Abu Ali

Abu Ali

  • Partner
  • Corporate Finance
  • Newcastle Centre