CHICAGO: The GCI Group, rather quiet on the domestic- acquisition front during the summer, has roared into autumn like a lion - or rather, a dragon.
CHICAGO: The GCI Group, rather quiet on the domestic- acquisition
front during the summer, has roared into autumn like a lion - or rather,
a dragon.
The firm has acquired Chicago-based, dollars 3.3 million healthcare
outfit Dragonette, finally giving GCI a solid outpost in the
Midwest.
’It was ironic - we have 45 wholly-owned offices, but we have not owned
anything in the Midwest,’ said president/CEO Bob Feldman. ’We looked at
the market carefully, and it took some time to find a partner.’
As is usually the case, the two firms dated before getting hitched,
partnering on new business pitches earlier this year. ’The hard work is
already done, as we’ve already worked together,’ said Dragonette
president Rita Hoey.
Dragon-ette is also handling the Chicago/Detroit portion of GCI’s
dollars 2 million British Airways account.
GCI has a small (dollars 750,000) Midwest healthcare practice in place
under Jed Weiner, which will be folded into GCI Dragonette.
Founded in 1984 by three former Edelman execs, Dragonette’s client
stable includes Glaxo Wellcome and GE Capital. In fact, it was Glaxo’s
desire to expand its account internationally that weighed heavily in
Hoey’s decision to sell. ’We had opportunities with big clients where we
knew if we went in by ourselves, we wouldn’t do well,’ Hoey said.
Dragonette derives roughly 50% of its business from healthcare accounts.
