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Hay & Kilner advice helps North East coating technology business attract angel investment

11 Feb 2020

Advice from Hay & Kilner Law Firm has helped a growing North East coatings business secure a transformational investment from a regional angel investor.

Ocean Coatings Limited specialises in the development and commercialisation of specialist coating products, and having created a unique portfolio of products with applications in the marine and offshore sectors, it is now preparing for its next stage of expansion.

Founded in 2015 by product development specialist and entrepreneur, Keith MacGregor, Ocean Coatings is now aiming to build its team, expand its operations and accelerate product development as it targets significant progress across a number of markets over the next twelve months.

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.

Phil Williams and Abu Ali at Leathers Corporate Finance LLP led the transaction on behalf of Ocean Coatings from start to finish, including making the introduction to the investor, while Ben Jackson at Hay and Kilner provided legal advice in support of the transaction.

L-R: Neil Harrold, Ben Jackson, Mark Adams, Abby Dorani & Jonathan Waters

Ocean Coatings’ founder, Keith MacGregor, 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 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.”

Ben Jackson at Hay & Kilner added: “Ocean Coatings has a clear view of how it will use its technical and commercial knowledge to drive its future growth and we’re very pleased to have been able to help Keith and his team secure the investment capital needed to realise even more of Ocean Coatings’ clear potential.”

Phil Williams at Leathers Corporate Finance LLP says: “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.”