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Business & Economy

Ocean Coatings secures fresh investment ahead of expansion

Darlington-based Ocean Coatings is preparing for growth after securing a ‘transformational’ investment from an angel investor.

The company, which was founded in 2015 by product development specialist Keith McGregor, was supported by the team at Leathers Corporate Finance with legal advice from Hay & Kilner.

Ocean Coatings specialises in the development and commercialisation of coating products and now that it has secured significant investment, is preparing for expansion with its unique portfolio of products, which have applications in the marine and offshore sectors.

The investment has been made by a North East-based angel investor with a strong track record of scaling and rolling out similar products into international markets.

Over the next 12 months, Ocean Coatings will accelerate product development to facilitate this.

Phil Williams and Abu Ali at Leathers led the transaction on behalf of the coatings specialist.

Phil 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.”

Ocean Coatings’ founder, Keith McGregor, added: “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 Leathers Corporate Finance who have demonstrated a supportive, committed and highly commercial approach from day one. I was also delighted to benefit from first class legal advice from Hay and Kilner.”