MDC Partners, best recognized as parent of creative ad agencies Crispin Porter & Bogusky and kirshenbaum bond senecal + partners, is ready to make a big splash in the PR business, according to its CEO.
Miles Nadal said PR is a very attractive growth opportunity, citing reasons such as the rise in social media, greater consumer skepticism toward corporations, increased brand engagement, more governmental relations and all-intrusive 24/7 media coverage.
Miles Nidal |
The world is becoming a much more complicated place, according to Nadal, who believes PR is the best tool to make sense of things. The most "innovative initiatives" in the communications space are happening in PR," he said.
Nadal looks at acquisition targets that have strong leadership and dedicated staffers who are eager to go to work each day and grow their careers.
His management philosophy is focused on the idea of a "perpetual partnership," which leaves non-controlling or economic ownership in the hands of the operating management to incentivize long-term growth and drive entrepreneurialism.
MDC, for its part, is committed to providing financial resources to the partnership and support of its global network.
Nadal said he has spoken or plans to speak with many CEOs that are listed in the O'Dwyer rankings. He provided this website with his "values and beliefs for successfully selecting a partner." The seven rules are:
1. Only partner with people who value your time as much as they value their own.
2. Only partner with people you want to have breakfast, lunch or dinner with, a second time.
3. Only partner with people you like, admire and respect.
4. Only partner with people you want to spend a long weekend with, on a small boat, in a small cabin or on a small ranch.
5. Only partner with people you trust enough to make the executor of your estate.
6. Only partner with people who have the human compassion gene. Compassionate leaders motivate and inspire their employees to reach beyond their own self imposed limitations.
7. Only partner with people who share the same passion, dedication, and willingness to sacrifice to accomplish the common mission.
New York PR counselor Elliot Sloane fits the bill. MDC acquired a majority stake in Sloane & Co. last week. Nadal likes S&C's strong niche position in corporate, financial and crisis PR.
He praised the leadership of Sloane, whom Nadal has known for seven years, and his dedicated staff that exudes passion for PR work. Nadal said he was blown away by the glowing references that he received during diligence from S&C’s clients. The firm is a great "cultural fit" with MDC, said Nadal.
Toronto-based MDC registered '09 revenues of $545M. It ranks as North America's No. 4 communications holding company behind Omnicom, Interpublic and inVentiv Health.
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