Britain's Huntsworth today announced the acquisition of a 90.2 percent stake in Giant Creative Holdings healthcare marketing communications from Shamrock Capital Growth Fund for $72.2M in cash.
San Francisco-based Giant Creative Strategy's 150 staffers serve clients in the biopharmaceutical, medical device and diagnostics sectors.
The firm recorded $32M in 2017 revenues and $7M in profit (EBITDA).
GCS CEO Steven Gold, president Adam Gelling and senior management own the remaining 9.8 percent stake of the firm. Huntsworth may spend up to $25M to purchase the management stock based on GCS' earnings performance.
Huntsworth CEO Paul Taaffe said the GCS deal adds scale in healthcare professional marketing especially in the fast growth biotech sector. “This expansion of Huntsworth makes it an even more compelling alternative to the large holding company networks,” he said.