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LLYC is acquiring an 80 percent stake in BAM, a 35-member San Diego shop that serves the technology and venture capital segments, in a deal valued at $13.2M.
The transaction will double the size of the Madrid-headquartered LLYC to more than 65 staffers in New York, DC, Miami and San Diego.
It allows LLYC to “rapidly scale in the US and broaden our services proposition,” said CEO Alejandro Romero.
The deal makes the US the No. 3 market for LLYC with revenues of $17M. AB InBev, DHL, Siemens and the University of Arizona are among LLYC’s US clients.
Spain ($39M) and Mexico (18M) rank as No. 1 and 2 markets for LLYC, which recorded $78.7M in 2022 revenues.
BAM CEO Rebecca Bamberger held meetings with more than 65 partners during the past two years before finding LLYC.
“LLYCs global reach, digital capabilities, and depth of expertise will provide BAM clients, and by extension, the capital ecosystems, with even more resources,” she said.
Bamberger, who founded BAM in 2008, will continue to run the firm under its own brand.
LLYC wants to double its size over the next five years via acquisitions of firms in strategic markets.
Columbus-based Geben Communications has acquired New York’s LBR/PR, which handles professional services, consumer products, luxury and health/wellness clients.
FINN Partners has acquired Honner, a 25-member Sydney shop that serves the financial communications and corporate sectors. The move bolsters FINN’s APAC team to about 250 members.
Public Policy Holding Company has acquired London-based Tancredi Intelligent Communication for $10.8M, of which $9.6M is in cash and the balance in stock.
Infinite has acquired Greentarget UK B2B communications shop, a move that doubles its footprint in the London market.
Accenture has acquired Whalar, which had billed itself as the “world’s leading independent creator and social agency,” from Whalar Group.
