New York-based Peppercomm has acquired financial PR specialist Walek & Associates, adding a roster of hedge funds, private equity firms and other financial institutions.

Peppercomm managing partner Ed Moed said the newly formed WalekPeppercomm aims to tap into rapid changes in financial communications and adds an IR capability to Peppercom's offerings.

Tom Walek founded W&A in 1998 and started out in financial journalism. "We are excited to be part of an agency with such a broad array of capabilities and strong geographic footprint in the US and internationally," he said. "It is a terrific move for us and our clients."

The Walek deal follows Peppercomm's acquisition last month of consumer shop Janine Gordon Associates.

Peppercomm posted $16.2M in revenue last year.

StevensGouldPincus advised the deal.