LLYC (BME:LLYC), a global Corporate Affairs and Marketing consulting firm, today 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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1 O’Dwyer’s Top PR Firms 2023.
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.”
Francisco Sánchez-Rivas, Chairman of the LLYC Board of Directors and Head of M&A, congratulated both teams on the deal completion and pointed out that, ”José Antonio Llorente’s vision, LLYC’s founder, who recently passed away, included the U.S. market and Lambert specifically as key elements in the LLYC growth strategy. He would be very proud of this milestone.”
“I founded Lambert as the first integrated PR and IR firm, and we applied this shareholder-value approach to our clients and their campaigns to drive differentiation and growth for 25 straight years,” said Jeffrey Lambert, founder, Chairman and CEO. “As we expanded through acquisitions into new geographies and broader marketing services, and through innovations like shareholder loyalty platform TiiCKER, we were looking for the next peak to ascend and found it with LLYC, an international player and public company with the same entrepreneurial roots, underdog mentality, and tenacious will to win.
“We’ve partnered with a like-minded agency that shares our commitment to business impact, aggressive growth plans in digital and M&A, and aim for market leadership in every country and community we serve. It’s a puzzle-piece fit with our capital markets strength and their prominence in Latin America, and together, we will bring our clients an expanded range of marketing, communications, and investor relations resources, all with the same great level of service and business understanding they have come to expect from Lambert. We will also jointly create more opportunities for our teams,” concluded Lambert.
The acquisition of Lambert is part of LLYC’s ambitious plan to double in size over the next three years through selective acquisitions. To this end, the consulting firm has undertaken a targeted acquisition plan of companies operating in key areas (creativity, innovation, and technology) or strategic markets (Spain, United States, Mexico and Brazil). Lambert represents LLYC’s third and largest U.S. acquisition, following EDF Communications (2015) and BAM (2023).
LLYC operates from 21 locations in 12 countries worldwide and is considered one of the leading global communications companies, according to PR Week and PRovoke rankings. Since 2020, the firm has doubled in size and recurring EBITDA. Last year, operating revenues grew by 14% to €83.1 million.
In this transaction, LLYC was advised by the Greenberg Traurig, P.A. team led by Antonio Peña and Henry Roque. Lambert was advised by the Warner Norcross + Judd LLP team led by Michael Jones.
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