Ocean provides merchant banking services to medium and large industrial enterprises across Europe.
Unlike banks, we are always commissioned by the dominant shareholder, not its management team. Our services help them assert control and unlock opportunities so they can execute their ideas.
Which means they can realise their dreams for their business.
Services
Traditional merchant banking services for business owners
Entrepreneurs face many challenges during the life of their business. However their management teams and banking advisors often propose standardised transactions that may not best serve the interests of the owners.
Ocean assists companies that are deadlocked and facing challenges to:
Facilitating acquisitions:
- Assisting with the acquisition of an enterprise by its management team (MBO)
- Assisting with the purchase of an asset or a competitor
- Assisting in buying out other shareholders to take control
Optimizing the capital
employed by the shareholders:
- Assisting with share buy-backs
- Facilitating bridge loans to avoid dilution
- Assisting in the refinancing of non-strategic assets for a company in off-balance sheet structures
Facilitating a restructuring:
- Assisting in the refinancing of a debt
- Assisting in restructuring a situation of over-indebtedness
Facilitating growth:
- Putting together joint venture agreements
- Assisting with financing the start-up of a new production facility
- Assisting with financing organic growth
- Finding financial or industrial partners to reinforce the capital of an enterprise
Our specialty is to work with our client to develop the bespoke structure or solution that achieve these objectives.
Ocean offers traditional merchant banking services to resolve the challenges encountered by its clients.
Capital Raising
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| Assisting by raising debt or equity to finance organic growth |  |
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| Facilitating bridge loans to avoid dilution | |
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| Raising debt secured against specific assets (inventories, receivables or machinery) |
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| Releasing equity for shareholders | |
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| Assisting with financing the start-up of a new production facility |
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Advisory
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FUNDING
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GOVERNANCE
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| Assisting in joint-venture arrangement | |
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| Assisting with the purchase of an asset or a competitor | |
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| Transmission shareholding or re-structuring | |
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| FUNDING GROWTH GOVERNANCE |
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| Finding financial or industrial partners to reinforce the capital of an enterprise | |
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| FUNDING GROWTH GOVERNANCE |
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| Assisting with the acquisition of an enterprise by its management team (MBO) | |
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| FUNDING GROWTH GOVERNANCE |
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| Assisting in buying out other shareholders to take control | |
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| FUNDING GROWTH GOVERNANCE |
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| Assisting in the refinancing of a debt | |
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| FUNDING GROWTH GOVERNANCE |
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| Assisting in restructuring a situation of over-indebtedness | |
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| Conflict resolution | |
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Balance Sheet Services
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| Custody of assets | |
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| Assisting in the refinancing of non-strategic assets for a company in off-balance sheet structures | |
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| Trustee services | |
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| Assisting with share buy-backs | |
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Because we are based in London and have a global network of partners, we provide access to the global markets where appropriate, unlike traditional domestic banks.
Clients
Our typical client is a European based, medium or large industrial enterprise, with a dominant shareholder.
Ocean’s clients generally have the following characteristics:
Family companies
At Ocean, we only work for dominant shareholders because they have skin in the game. For us, no two businesses are the same, nor are the dreams of their business owners, nor are the challenges they face. So, we listen closely and develop bespoke ways to overcome whatever financial obstacles are in their way.
Spain
- Private company of a medium or large size in the industrial sector
- Family company with a strong reference shareholder
- Enterprise with a turnover greater than EUR 30 million
Italy
- Large, private, family-owned enterprise with a strong reference shareholder
- Enterprise with a turnover greater than EUR 100 million
Germany and Switzerland
- Medium, family-owned enterprise
- Enterprise with a turnover greater than EUR 30 million
France
- Large, private, family-owned enterprise with a strong reference shareholder
- Large enterprise listed in the Stock Exchange operating semi-regulated businesses
- Enterprise that has an active management of their balance sheet and looking to do off-balance sheet financings
- Enterprise with a turnover greater than EUR 100 million
United Kingdom
- Medium enterprise with a strong reference shareholder
- Enterprise with a turnover greater than GBP 30 million
These are some examples of transactions executed by the Ocean team:
Bank
Business transformation
Acquisition and Merger
GBP 13 million
United Kingdom, 2014
Our client is an investment management company that dreamt of transforming itself into a mainstream bank.
The Ocean team helped them acquire a UK bank. The transaction for an amount of GBP 13 million completed in December 2014.
Industrial Company
Capital Raising and Debt
Re-structuring
EUR 700 million
Spain, 2014
Our client is a company leader in the steel sector that was on the brink of being brought down by its lenders. Our client wanted to find a financial partner who would be able to help him re-structure the balance sheet and maintain control over the company.
The Ocean team found a financial partner that enabled the refinancing of bank debt in excess of EUR 700 million.
The transaction closed in July 2014.
Specialist Finance Company
Financing
GBP 3 million
United Kingdom, 2016
Our client is a specialist finance company. One of their innovative new products involved financing retail customers’ car repairs in affiliated garages. Our client could not find a lender who understood how to finance the growth of this new product.
The Ocean team structured a receivables finance programme.
The transaction closed in 2016 for an initial amount of GBP 3 million which was subsequently increased in 2018.
European Industrial Services Company
Off-balance sheet financing
EUR 400 million
European multi-jurisdictions,
2012 and 2017
Our client is a listed company and a world leader in the sector of industrial waste management.
They operate in a quasi-regulated environment and our client wanted to maximise shareholder returns by monetising their trade receivables.
The Ocean team structured an off-balance sheet trade receivables transaction and financed the equity tranche.
The transaction for the amount of EUR 400 million initially closed in 2012 and was renewed in 2017.
Industrial Company
Management Buy Out
Amount undisclosed
Spain, 2016
Our client is a European leader in the specialised steel sector. After it was put up for sale by the owners, the management team wanted to take control of the company in order to preserve its local presence.
The Ocean team supported them in the acquisition of the company.
The transaction for an undisclosed amount closed in June 2016.
Industrial Company
Financing
GBP 2.7 million
Spain, 2017
Our client is a leading company in the steel sector that wanted to increase its capacity by building new production facilities. Our client could not find the lenders to finance the working capital inventories required to kick-start production.
The Ocean team structured a transaction to finance these inventories.
The transaction for amount of GBP 2.7 million closed in February 2017.
Specialist Maritime Service Company
Financing
EUR 60 million
France, 2017
Our client is a company specialising in offshore maritime services that wanted to raise additional capital in challenging financial conditions.
The Ocean team designed a transaction to unlock value by organising the financing of their fleet of coastal surveillance vessels.
The transaction closed in July 2017 for an amount of EUR 60 million.
NB: We operate under strict confidentiality rules and never publicise client names. However, we are more than happy to make introductions so prospective clients can hear for themselves how we help entrepreneurs realise their dreams.
About Us
Ocean provides merchant banking services inspired by the tradition of merchant banks. We are intent on meeting the specific needs of our clients in a way that leads to long-term relationships.
We believe in the singularity of enterprises and advocate a personalised service, with a bespoke approach to each situation. We believe that listening to our clients is paramount; the opportunity for us to serve them arises when they decide it, not when imposed by the financial markets.
Ocean’s first client was a French company. In March 2003, we structured a transaction that financed their wool inventories for an amount of EUR 60 million with an equity tranche of EUR 250,000 placed by Ocean.
Ocean’s other landmark transaction is a trade receivable transaction of EUR 400 million for a large European company with an equity tranche of EUR 10 million placed by Ocean.
Our relationship with our clients is based on trust and is the starting point for word-of-mouth recommendations.
Team
Our Organization and Our People Track Record
Contact
To find out how we can help you realise your dream, please contact us:
+44 (0) 20 8049 2000
1-2 Paris Garden, London SE1 8ND, United Kingdom
Pedro Errazuriz
pedro.errazuriz@oceancap.com
Lore Leanizbarrutia
lore.leanizbarrutia@oceancap.com
Kathleen Stevens
kathleen.stevens@oceancap.com
Careers
At Ocean, we are always looking to hire hard working and motivated professionals with service-oriented and client mindset. If you enjoy being challenged, be part of our adventure and send your curriculum-vitae with cover letter to careers@oceancap.com
