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LLYC has acquired a 70 percent stake in Lambert Global for an initial payment of $18.2M with the balance due in two years based on the EBITDA performance of the corporate communications/IR firm.
The Spanish firm says Lambert Global will add $35.1M to its annual revenue base and a triple its US presence.
The acquisition, which is LLYC's biggest-ever, will add Lambert Global’s Grand Rapids headquarters and “talent hubs” in Detroit, New York, St. Louis and Phoenix.
LLYC has US offices in Miami, Washington, New York and San Diego.
CEO Jeffrey Lambert and president Mike Houston will now lead the recast Lambert by LLYC and serve on the Spanish firm’s US executive committee.
Alejandro Romero CEO of LLYC, called Lambert Global "a perfect partner, and its integrated communications platform is an ideal fit for LLYC’s philosophy, enabling the company to make the quantitative leap it has been seeking.”
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| Alejandro Romero (L) & Jeffrey Lambert |
Lambert said the deal with LLYC is “a puzzle-piece fit with our capital markets strength and their prominence in Latin America, and together, we will bring our clients an expanded range of marketing, communications, and investor relations resources."
LLYC now has 130 staffers in the US, which is its second largest market.
Lambert Global took the No. 37 spot in the 2023 O'Dwyer's rankings of independent firms with fees of $20.2M, which was up 21.4 percent from the previous year.
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