Myriad, which staffs about 50 and maintains a second office in New York, will now be known as Myriad Marketing, an MMGY Global company. The deal also includes travel and hospitality shop Spring O’Brien, which was acquired by Myriad last year and now operates as a unit of that agency. The agency will begin integrating operations with Kansas City-headquartered MMGY this year.
Myriad president and CEO Al Merschen, who founded the agency in 1987, will remain onboard as an MMGY principal and will manage the firm’s Los Angeles operations, which will now include staff from Myriad and MMGY’s other brands and is expected to expand significantly. Merschen will also head innovation and growth strategies for the company.
In New York, Myriad and Spring O’Brien’s teams are expected to move into MMGY’s new space located near Grand Central station sometime during the first quarter of 2017.
MMGY president and CEO Clayton Reid told O’Dwyer’s that Myriad gives MMGY a West Coast footprint as well as expanded global expertise and a heightened East Coast presence.
“This deal will enable the combined company to better service existing West Coast clients, pursue Asia-based opportunities and expand its services to clients in Europe, Africa and Latin America,” Clayton said.
The deal accounts for MMGY’s third acquisition this year and is the result of a 2016 private equity investment from Peninsula Capital Partners and Fine Equity Partners meant to support an aggressive acquisition strategy and international expansion for the travel-based firm.
MMGY in October acquired New York-based hotel, destination and lifestyle shop NJFPR, effectively doubling the size of MMGY’s PR practice. NJFPR, formally known as Nancy J. Friedman Public Relations Inc., accounted for more than $3.8 million in travel-related net fees in 2015. That agency had opened a Los Angeles office in 2014 and also maintained a satellite team in Boston as well as a U.K. liaison.
MMGY in July also acquired McLean, VA-based travel and tourism market research firm D.K. Shifflet & Associates.
MMGY was legally advised in the Myriad transaction by Foley & Lardner, LLP and received financial counsel by Laurus Transaction Advisors. Myriad was legally advised in the transaction by Alan Feldstein and Vida Harband.
MMGY, which was founded in 1981, now staffs more than 200 worldwide, maintains additional offices in Kansas City, Orlando, Ft. Myers and Madrid.