MBO & Co, a French private equity firm, has sold its 30 percent stake in LLYC to the firm’s partners.

MBO & Co came on as an LLYC shareholder in 2015. Since that time, the agency has combined organic development with high value-added acquisitions, which it says have consolidated its leading position in the Spanish and Portuguese-speaking market.

In this period, LLYC has acquired Impossible Tellers (Spain, 2015), S/A Comunicaçao (Brazil, 2015), EDF (USA, 2015), Arenalia (Spain, 2018), Diplolicy (Spain, 2020) and Factor C (Chile, 2020). With an average growth rate of 18 percent, its revenues went from €20.7 million ($25 million) in 2014 to €44.3 million ($53.5 million) in 2020.

"We are very satisfied with the partnership we entered into with LLYC five years ago, and we now leave having met our investment objectives,” said MBO & Co. Richard Broche.

LLYC founder and chairman José Antonio Llorente called MBO & Co “the ideal travelling companion at a time of disruption for the sector and for our clients.”

LLYC has 16 offices across the Americas, Spain and Portugal, as well as offering its services through affiliates in several Latin American markets.