Ocean Valuation, Funding & Investors

Ocean is valued at $441M as of July 2025.

See full Ocean profile

Last Ocean valuation

$441M

Secondary · Jul 2025

Last Ocean funding round

$200K

Pre-seed · Jul 2024

Cumulative funding Ocean raised

$117M

across 3 funding rounds

Key investors in Ocean

  • La Caisse
  • Investissement Quebec
  • Government of Quebec
  • Fonds de solidarité FTQ

Ocean Overview

About Ocean

Ocean is a Quebec City-headquartered provider of marine services across Canada and internationally. The company operates a fleet of 50 workboats for port towing, dredging, and construction projects on the St. Lawrence River and Great Lakes. It supports infrastructure like bridges and wind farms through salvage, icebreaking, and rental services for tugs up to 10,000 horsepower. Ocean maintains ship repair yards in Sorel-Tracy and Sept-Îles, handling annual dry-dockings for bulk carriers and ferries.


Founded

1972

HQ

CanadaQuebec City

Status

Privately held

Customer focus

B2B

Revenue model

Services

Valuation

$441M (Jul 2025)

Ocean Valuation

Ocean is currently valued at $441M, based on its secondary sale in July 2025.

The $106M round included La Caisse, Government of Quebec and Investissement Quebec.

Ocean valuation by funding round

Ocean valuation by funding round
DateStageValuation
Jul 2025Secondary$441M

Ocean Funding History

Ocean has raised a total of $117M across 3 funding rounds, plus 1 secondary share sale.

Ocean's first fundraising round was a $5M seed round in October 2014. The most recent completed round was a $200K pre-seed round in July 2024.

Ocean funding rounds

Ocean funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2025SecondaryLa Caisse; Government of Quebec; Investissement Quebec$106M$441MOcean Group is a leader in the maritime industry, specializing in harbor towing, marine works, naval construction, and repair, maritime equipment rental, dredging, and marine electro-technology. The company operates primarily in Quebec, Ontario, British Columbia, and Jamaica, employing over 1,100 people, nearly 1,000 in Quebec. It is one of North America's largest tug owners and builds advanced vessels for the Canadian Navy. On July 22, 2025, Ocean Group completed a management buyout led by President and CEO Jacques Tanguay and founder Gordon Bain, who retained control. The Government of Quebec and Investissement Québec invested USD$106.5 million (CAD$145 million) to acquire equity interests, replacing Fonds de solidarité FTQ. La Caisse (formerly CDPQ), a partner since 2014, reinvested, with La Caisse and Investissement Québec becoming equal shareholders. The transaction keeps Ocean Group wholly Quebec-owned, headquartered in Quebec City, with no job impacts and a focus on growth in Canadian and international markets. The deal valued Ocean Group at $440.9 million and supports its role in Quebec's defense industry and maritime supply chain. Ocean Group has a solid financial structure for sustainable expansion and previously acquired Verreault Navigation in 2022.
Jul 2024Pre-seedGovernment of Quebec (lead)$200K--
Oct 2018Undisclosed stageFonds de solidarité FTQ (lead); La Caisse (lead)$112M--
Oct 2014SeedInvestissement Quebec (lead); La Caisse (lead)$5M--

Who has invested in Ocean?

4 investors have backed Ocean across its funding rounds, including La Caisse, Investissement Quebec, Government of Quebec and Fonds de solidarité FTQ.

Lead investors include Government of Quebec, Fonds de solidarité FTQ, La Caisse and Investissement Quebec.


Ocean Investors

Investors in Ocean by funding rounds participated
InvestorHQRoundsRoleFirst check
La CaisseCanadaMontreal3LeadOct 2014
Government of QuebecCanadaQuebec City2LeadJul 2024

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Ocean Competitors

Ocean competitors include listed companies like Maritima de Inversiones and Luka Rijeka, and private ones like Seven Islands Shipping, Associated Danish Ports, Hanjin Shipping and Mersin International Port.

Public and private companies comparable to Ocean
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Seven Islands ShippingIndiaMumbaiPrivate--$420M-
Maritima de InversionesChileChilePublicly listed$4M-$280M-
Associated Danish PortsDenmarkFredericiaPrivate$42M$32M$765M18.2x
Hanjin ShippingSouth KoreaSeoulPrivate--$250M-
Mersin International PortTurkeyTurkeyPrivate--$869M-
Luka RijekaCroatiaCroatiaPublicly listed$30M$17M$217M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Kerry TJ Logistics$403M$95M1.6x-6.8x-
Thessaloniki Port$124M$55M3.0x-6.7x-
Attica Group$872M$100M1.2x-10.1x-
Radiant Logistics$934M$39M0.5x0.5x12.0x12.2x
Tegma$433M$83M1.1x1.1x5.7x6.1x
Napier Port Holdings$89M$35M5.4x4.8x13.6x11.4x
Seanergy Maritime$158M$70M4.1x3.4x9.1x5.4x
Universal Logistics Holdings$1.6B$84M0.8x0.8x15.4x6.6x

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Common questions about Ocean

When was Ocean founded?Ocean was founded in 1972.
Where is Ocean headquartered?Ocean is headquartered in Quebec City, Canada.
Is Ocean publicly listed?No, Ocean is a private, VC-backed company.
What is Ocean's valuation?Ocean was last valued at $441M in its secondary sale in July 2025.
How much funding has Ocean raised?Ocean has raised $117M across 3 funding rounds.
What was Ocean's last funding round?Ocean's last funding round was a $200K pre-seed round in July 2024, led by Government of Quebec.
Who are Ocean's investors?Ocean's investors include La Caisse, Government of Quebec, Investissement Quebec and Fonds de solidarité FTQ.
Which companies are comparable to Ocean?Companies comparable to Ocean include Seven Islands Shipping, Maritima de Inversiones, Associated Danish Ports, Hanjin Shipping, Mersin International Port and Luka Rijeka.

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