Oceanic Agencies sold to O F Packaging
Divest Merge Acquire advised the owners of Oceanic Agencies in their successful sale to O F Packaging.
Following a period of strong growth in the business, the owners of Oceanic Agencies were seeking an incoming owner to take the business forward as they transition out of the industry.
The successful bidder was O F Packaging, part of Close the Loop Group (ASX: CLG) – a national industry player of substantial scale.
The transaction was structured to progressively achieve their mutual requirements and a smooth transition from a standalone business to part of a publicly listed company.
About Oceanic Agencies
About O F Packaging
From the first interaction with DMA we were extremely happy with the professionalism displayed in terms of their responsiveness, communication and team approach. The IM created after engagement was very thorough and canvassed all aspects of the market that would be of interest for potential clients. The ongoing process of communication, advice and support during the sales process was excellent and continued to impress. The issue of confidentiality and discretion in an industry that is relatively small was dealt with sensitivity and in a manner that enabled the ongoing operation of the business mitigating the risk of any issues. DMA’s negotiation process was strong and subsequent discussions with the buyers established that they found DMA to be pleasant to deal with whilst ensuring our best interests were met which was extremely reassuring to hear.