LLYC, a global Corporate Affairs and Marketing consulting firm, announced the acquisition of Lambert Global, a strategic communications firm that specializes in public relations, investor relations, and integrated marketing.
Founded in 1998, Lambert Global pioneered the integrated PR and IR agency model, and has enjoyed 25 years of uninterrupted growth. The acquisition represents the largest in LLYC’s history and aligns with its Strategic Plan, expanding its footprint in the U.S. and positioning itself as a relevant player in the biggest market in the world. The transaction will triple the Company’s size in the U.S. where it will become LLYC’s second largest market after Spain.
The acquisition is expected to result in revenues of $35.1 million (approx. €32,5 million), EBITDA of $9.7 million (approx. €9 million), and an enhanced presence across the United States for LLYC USA. LLYC will leverage a team of nearly 130 professionals across the country to provide an offering of products and services based on creativity, influence, and innovation that enhance and protect the value of its clients’ businesses, turning every day into an opportunity to grow their brands.
Under the terms of the agreement, LLYC is acquiring an initial 70 percent stake in the company for a price based on EBITDA performance in the next two years. There has been a payment of $18.2 million (€16,8 million) of the final price in advance.
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All Lambert partners will join LLYC, including Chairman and CEO Jeff Lambert, who is also Global Chair of the world’s largest partnerships of independent agencies, PROI Worldwide, and President Mike Houston, who previously led Lambert’s largest practice in Investor Relations and Capital Markets. Jeff Lambert will join LLYC’s Global Executive Committee, while Mike Houston and Jeff Lambert will both join the U.S. Executive Committee.
Now operating as Lambert by LLYC, Lambert will create value-added synergies with the Company’s entire international network. Lambert’s headquarters is located in Grand Rapids, Michigan. The agency also has talent hubs in Detroit, New York City, St. Louis, and Phoenix, creating a perfect match with LLYC’s presence in Miami, Washington D.C., New York, and San Diego.
“LLYC has been operating in the United States for ten years and has always considered it a crucial growth market,” said Alejandro Romero, Partner and Global CEO of LLYC. “With the acquisition of Lambert, the company has taken a significant step towards becoming a leading consulting firm in the country. This acquisition expands LLYC’s presence from coast to coast. Lambert is a perfect partner, and its integrated communications platform is an ideal fit for LLYC’s philosophy, enabling the company to make the quantitative leap it has been seeking.”
SOURCE: GlobeNewswire