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| Mark Penn |
MDC Partners CEO Mark Penn reports Q3 revenues plummeted 17.3 percent to $283.4M due to a “significant but reduced drag of the COVID-19 pandemic." Organic growth crashed 16.4 percent during the period.
He played up MDC’s nine percent “sequential growth” over Q2 and $32M in net new business wins.
Penn said MDC has made progress on its plan to form agency networks and increase collaborative pitches. The firm also launched its first major digital marketing product, centralized back-office operations and consolidated real estate.
MDC’s PR firms are KWT Global, Allison + Partners, Hunter and Veritas. The firm sold financial firm Sloane & Co. to SKDKnickerbocker, which is part of Penn’s Stagwell Group, in February.
Stagwell in October announced a non-binding agreement to acquire MDC, which currently trades at $2.15 per share.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
