Marketing & Advertising Acquisitions in 2022

BC Partners has signed a definitive agreement to acquire a majority stake in Madison Logic, the global account-based marketing (ABM) platform, from Clarion Capital Partners. Clarion and other shareholders including CEO Tom O'Regan and co-founders Vin Turk and Erik Matlick will retain minority stakes; the deal (previously reported at a $750 million enterprise value) will support Madison Logic's growth and technology investment.

Arthur J. Gallagher & Co. acquired Chicago-based ROC Group, an employee communication agency founded in 1998 that specializes in HR and enterprise change solutions. Jan Burnham and her team joined Gallagher’s employee benefits consulting and brokerage operations; terms of the transaction were not disclosed.

Capital For Business (CFB), a St. Louis-based SBIC private investment firm, completed a control investment in Innvoke, LLC, a Cranbury, New Jersey-based marketing and commercial printing company. Affiliates of CFB and Independent Bankers Capital Fund (IBCF) provided subordinated debt and equity; founder David Kovacs moved to a board role and co-investor status while Jay Ziegler joined as President. The investment is intended to support growth and build out a nationwide commercial printing services provider.

Clear Channel Outdoor Holdings, Inc. has entered into a definitive agreement to sell its Switzerland business to Goldbach Group AG, an affiliate of TX Group AG, for CHF 86.0 million (approximately US$92.7 million). The all-cash divestiture is part of Clear Channel's strategic review of its European assets and is expected to close in mid-2023 subject to regulatory approvals and customary conditions.

The Opus Group, a global agency network, has acquired Verve, Ireland's largest multidisciplinary brand experience and events agency. The deal expands The Opus Group's footprint and capabilities in Europe, giving Verve access to broader global resources while continuing to operate under its existing name and leadership.

Structured, a paid media and performance marketing agency, has acquired conversion rate optimization specialist Loop.Club. The deal brings Loop.Club’s CRO team and expertise into Structured to strengthen the agency’s paid media offerings and improve client conversion performance.

AG Capital, a Vienna-based private equity firm, has acquired a majority stake in Improove Group, an SEO and digital marketing agency headquartered in Vienna with offices in New York and Madrid. The founders (Jürgen Rous, Michael Schwarz and Antíoco Cuesta Moralí) remain invested and will continue to lead the business as AG Capital supports accelerated growth through organic initiatives and targeted acquisitions.

Gauge Capital has made a strategic growth investment in Exact Customer, a New York–based software-enabled digital performance marketing agency that supplies high-intent consumer leads to the home services market (windows, bath, solar). Gauge will partner with founders Steve Jacoby and Eric Bloomfield and the management team, taking board seats to support investments in sales and marketing, strategic M&A, and vertical expansion.

The American Association of Advertising Agencies (4A's) has acquired the Coalition for Healthcare Communication (CHC) to expand the 4A's healthcare and wellness advocacy, government relations and member services. The CHC will be housed within the 4A's Government Relations and Sustainability practice under Alison Pepper as CHC's longtime executive director Jon Bigelow retires.

Vi Labs has acquired Motus Consumer Insights to combine Motus's member-acquisition analytics, site selection, and marketing BI capabilities with Vi's AI-powered member engagement and retention platform. The deal creates an end-to-end solution for digital health enterprises to identify high-value prospects, optimize site selection, and drive engagement and lifetime value.

Acceleration Partners, a Mountaingate Capital portfolio company, acquired Influencer Response and Volt Agency to bolster its influencer and performance marketing capabilities. The deal expands AP's ability to deliver end-to-end affiliate, influencer, and partnership services and serves as an add-on to the Mountaingate-backed platform.

WPP has acquired Diff, a Montreal-based commerce agency of about 115 employees that specializes in Shopify development, front-end design, site optimization and systems integration. Diff will join the Wunderman Thompson global network to strengthen WPP's digital commerce capabilities and expand its partner ecosystem in North America.

Inizio has acquired Evolution Road, a digital innovation firm specializing in life-science omnichannel marketing and digital health strategy. Evolution Road will join Inizio’s MarComms business unit, Evoke, to expand Evoke’s digital health capabilities and end-to-end omnichannel offering for pharmaceutical and life-science clients.

Ad.net has acquired IntentX, a commerce platform that helps publishers generate incremental revenue through affiliate and shoppable content partnerships. The deal brings IntentX’s product and publisher relationships into Ad.net’s performance advertising network, with IntentX founders joining Ad.net’s leadership team to expand publisher commerce and monetization capabilities.

Merit Capital Partners partnered with Six Pillars Partners and the company's management to merge and recapitalize Red Square Agency, Inc. (Mobile, Alabama) and Foundry, LLC (Reno, Nevada) to form Good Giant, a full-service integrated marketing agency focused on the casino and hospitality sectors. Merit provided subordinated debt and equity as part of the transaction, which represents the firm's fourth platform investment by Fund VII.

BW Health Group has acquired PulseCX, a full-service healthcare marketing communications agency. PulseCX will be integrated into BW Health Group's Benchworks agency to expand capabilities—particularly data analytics—and increase scale within the healthcare marketing market.

MSQ, the LDC-backed UK marketing and technology group, has acquired Miri Growth, a specialist user acquisition and creative services agency. The business will retain its name and management, and MSQ said the deal will deepen its mobile app and user-acquisition capabilities while supporting Miri’s international growth.

Datawords Group, supported by majority shareholder Keensight Capital, has acquired Shanghai-based integrated communications agency Switching-Time to reinforce its native marketing and digital communications capabilities in mainland China and the wider APAC region. The deal expands Datawords' local presence and service offering for fashion, beauty, luxury and lifestyle brands and aims to accelerate international and China-focused campaign delivery.

Palladium Heritage, the lower-middle-market investment unit of Palladium Equity Partners, has made an investment in Southwest Strategies to support the firm's growth. The San Diego-based public outreach and communications firm will partner with Palladium Heritage to broaden offerings and expand into new markets amid expected infrastructure investment activity; terms were not disclosed.

Gravity Global, backed by Elysian Capital, has acquired Mojo Media Labs to strengthen its US presence and expand its Account-Based Marketing (ABM) and marketing automation capabilities. The deal adds an Indianapolis office to Gravity's footprint and brings Mojo's HubSpot and ABM expertise into Gravity's global offering.

New York-based creative agency General Idea has acquired Reference NYC, a technology arts studio specializing in dynamic branding, spatial communication and motion design. The deal folds Reference NYC and its clients (including LEGO, Levi's and Byredo) into the newly formed General Idea Group — joining General Idea and SPA to expand the firm's technology-driven creative and production capabilities.

TeamSnap, the youth sports management software platform, acquired LeagueSide, a community sports sponsorship platform, to integrate on-field and digital sponsorship capabilities into its Clubs & Leagues offering. The acquisition expands TeamSnap’s ability to connect brands with youth sports communities and broadens sponsorship monetization for the platform’s network of organizations and families.

Intention.ly, a Philadelphia-based growth engine design consultancy for fintech and financial services, has acquired C-Suite Social Media, a digital marketing and social media agency serving the financial services sector. Tina Powell, founder of C-Suite Social Media, joins Intention.ly as partner and Chief Growth Officer; terms were not disclosed.

Link Media Outdoor, a wholly owned subsidiary of Boston Omaha Corporation, has purchased the outdoor advertising assets of Elevation Outdoor Advertising in Knoxville, Tennessee, adding over 265 billboard faces (including eight digital displays). Elevation founder Martin Daniel will remain in an advisory role and Donna Jarnigan will remain in sales; the acquisition expands Link's footprint in the southeastern U.S. and is the company's largest acquisition of 2022.

Forbes Tate Partners (FTP), a subsidiary of Public Policy Holding Company (PPHC), has acquired Engage, LLC, a Washington, D.C.-based digital media and public affairs agency. The deal brings Engage's 19 employees and digital capabilities into FTP to deepen integrated digital public affairs, advocacy, and creative services for clients including Fortune 500 companies and trade associations.

Capgemini has acquired London-based purpose-driven creative agency 23red; the deal was signed and closed on November 17, 2022. The 23red team will join frog in the UK (part of Capgemini Invent) to strengthen Capgemini's sustainability and purpose-driven brand design and public-sector communications capabilities.

Barrington Media Group, a portfolio company of Fort Point Capital, has completed the acquisition of The SEO Department to bolster BMG's digital practice and expand its SEO capabilities. The deal serves as an add-on to BMG's platform and is intended to diversify service offerings and drive additional value for customers and employees.

Advance Local has acquired Search Optics, a provider of digital marketing services and advertising technology focused on the automotive industry. The acquisition expands Advance Local’s automotive vertical and aims to combine Search Optics’ capabilities with Advance’s ZeroSum unit to develop new products and reach new customers in the automotive market.

The Carlyle Group, via its Carlyle Europe Technology Partners platform, has agreed to acquire a majority stake in Incubeta, a London-headquartered digital marketing and ad-tech agency. Carlyle will support Incubeta's international growth, investments in proprietary technology and commercial operations, and M&A-led market consolidation; terms were not disclosed.

Funds managed by Kelso & Company completed a majority investment to acquire DEFINITION 6, a digital customer experience agency based in Atlanta and New York. DEFINITION 6 will merge with Emtec, a Kelso portfolio company, to create a global digital consultancy led by Emtec CEO Sunil Misra; D6 management will remain significant investors alongside Kelso. The transaction closed in September 2022 and financial terms were not disclosed.

LDC-backed digital agency Croud has acquired Born Social, a social-first creative and influencer agency, to strengthen its social, creative and brand advertising capabilities. Born Social will continue to trade under its brand and its leadership team (led by CEO Ben Tyson and COO Charlotte Hamill) will remain in place as the business is integrated into the Croud group.

EverService Holdings, LLC acquired Blue Corona, a home-services-focused digital marketing agency, in October 2021. The acquisition expands EverService's vertically integrated marketing capabilities—adding website design, SEO, PPC and other online lead-generation services to its portfolio focused on service industries.

Seidler Equity Partners made a minority growth investment in GP3 Partners, a bipartisan public affairs and strategic advisory firm formed from a merger of leading political consulting and advertising firms. The capital will support GP3's continued roll-up strategy, scaling of services and talent acquisition as the firm pursues further expansion across additional cities and clients.

Imaginuity, a Dallas-based integrated marketing agency, has acquired Beacon Advertising. The deal brings Beacon's team and co-founder Evan Meeks into Imaginuity and expands Imaginuity's talent and multi-location client base to support over 3,300 client locations across North America.

Ruder Finn has acquired Touchdown, a specialist enterprise technology public relations and communications agency. The deal adds 65 specialists and strengthens Ruder Finn's technology & innovation practice while expanding its presence in Austin, Texas and the U.K.

Emplifi has acquired Pixlee TurnTo, a San Francisco-based provider of user‑generated content (UGC), ratings & reviews, and influencer marketing solutions, and will integrate its capabilities into Emplifi’s unified CX Cloud platform. Pixlee TurnTo has more than 90 employees and over 1,000 clients; Emplifi is a portfolio company of Audax Group.

PA Media Group has acquired Hydrogen, Scotland's largest specialist social media agency, bringing Hydrogen into its portfolio of media businesses. Hydrogen will continue to operate as a stand-alone agency from its Glasgow base and its social media, content and paid advertising capabilities will complement PA Media Group's existing digital marketing services.

Independent marketing agency broadhead has acquired Minneapolis-based experiential agency Fame. The deal expands broadhead's experiential marketing capabilities and brings Fame's clients and leadership (Lynne Robertson to remain president) into broadhead's national offering.

Journey, the Growth Catalyst Partners–backed innovation and design agency, has acquired Squint/Opera, a London-based creative studio specializing in immersive physical and virtual experiences. The acquisition doubles Journey’s scale and adds studios in London, New York and Dubai, integrating Squint/Opera’s expertise in virtual production, Unreal Engine-based virtual twins, and large-scale immersive installations.

IK Partners has made a growth investment in French digital platform Plus que PRO, backing co-founders Gregory Regouby and Sacha Goepp who will retain control and continue to run the business. The investment will support Plus que PRO's franchise roll-out, R&D and expansion of its digital services and tamperproof review platform for SMEs, particularly in the construction and business services markets.

Toluna has acquired GutCheck, a North America-based agile market research agency, integrating GutCheck’s research methodologies and team into Toluna’s technology platform and global panel. The deal expands Toluna’s agile insights capability and strengthens its presence in North America; GutCheck was previously backed by Piper Jaffray, Rally Ventures, Grotech Ventures, and Crawley Ventures.

Affiliates of private equity firm ZMC, with co-investor Hauser Private Equity, have made a strategic investment in digital marketing agency Wpromote to accelerate growth and expand its technology and product offerings. Wpromote, a Shamrock Capital portfolio company based in El Segundo, California, will leverage the partnership to scale its Polaris platform and pursue organic and acquisitive expansion; terms were not disclosed.

High Level Marketing (HLM), a tech-enabled digital marketing company based in Birmingham, Alabama, has acquired NDS Digital, an Oklahoma-based digital marketing agency. The deal expands HLM's national reach and strengthens its capabilities and presence in the home services marketing market.

CentralBDC, an SJ Partners portfolio company based in Boca Raton, Florida, has acquired PowerBDC, a Stamford, Connecticut-based outsourced business development center serving automotive, RV, powersports and marine dealerships. The add-on expands CentralBDC's suite of inbound/outbound lead generation, lead management and CRM services as part of a strategy to grow its market share and capabilities in dealership marketing and customer engagement.

The Next Practices Group (NPG) announced that Content Science, the Atlanta-based content intelligence and strategy firm founded by Colleen Jones, is joining NPG's network of companies. The deal brings Content Science's content strategy, analytics and ContentWRX product into NPG's capabilities to expand its marketing, analytics and digital content offerings.

Indegene, via its subsidiary ILSL Inc., has acquired CultHealth, a U.S.-based full-service healthcare marketing and creative agency. The acquisition expands Indegene's life sciences commercialization capabilities by adding brand strategy, omnichannel marketing, and patient engagement services to its offering.

Acoustic, a provider of unified marketing and customer experience technology for B2C brands, has received a strategic growth investment from Francisco Partners while existing investor Centerbridge Partners remains the primary equity holder. The capital will support Acoustic’s platform vision, accelerating product development and expansion of its personalized multichannel marketing and analytics capabilities.

Moore has acquired Communications Corporation of America (CCA) to strengthen its direct mail supply chain across printing, production and envelope manufacturing in the mid-Atlantic region. CCA, a Northern Virginia direct-mail and data-processing provider, will be branded as a Moore company; financial terms were not disclosed.

Seven Star Digital, a OneTwenty company, has acquired Moneta Communications Limited, a UK-based performance marketing and sports-betting publishing business that operates properties including Horseracing.net and Bettingodds.com. The acquisition expands Seven Star Digital’s digital sports publishing and performance marketing capabilities in the UK, Ireland and North American markets.

Buffalo Groupe, LLC has acquired Sports Marketing Surveys USA (SMS), expanding Buffalo Groupe's research and insights capabilities across golf, outdoor recreation and related active-sport categories. SMS and its ActionWatch subsidiary will be integrated with Buffalo Groupe’s Longitudes Group to provide a broader suite of syndicated and custom sports market research and consumer insights.