DWF advises on £32m sale of advertising company
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Paul Pignatelli
The Glasgow corporate team at DWF has advised on the £32 million cross-border sale of Scottish outdoor advertising company Forrest Media to London-based Ocean Outdoor.
Owned by Chris Trainer, Forrest Media is a provider of large format outdoor media solutions in Scotland and the North of England with sites in Glasgow, Edinburgh, Newcastle and Manchester. Ocean Outdoor is also a facilitator of digital outdoor media solutions in England.
Executive Partner of DWF Glasgow Paul Pignatelli has had a long-standing relationship with entrepreneur Chris Trainer and the Forrest Group business for more than 20 years, including assisting in relation to their newest venture, the development and opening of the Raddisson Red hotel located at Finnieston Quay in Glasgow (the first of its kind in the UK).
The deal was led by Mr Pignatelli alongside associates Gemma Gallagher and Emma Keil and real estate partner Chris McLeish. Craig Campbell of CMGR Corporate Finance LLP was engaged by the shareholders of Forrest Media to provide corporate finance services.
Mr Pignatelli said: “It has been a pleasure to have witnessed the evolution of Forrest Media and its expansion throughout the years. This deal will enable the business to facilitate its next stage of growth in dominating the UK market.”
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