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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.
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