TORONTO: Co-founders Carol Levine and Esther Buchsbaum have bought their partner Martin Waxman's share of Energi PR.
The deal will enable them to “accelerate the growth” of the business, Levine said.
She added that the acquisition was a good opportunity for the agency because of the long working relationship between Buchsbaum and herself. Waxman will continue to consult for the firm.
Energi PR was formed last year after Communications MECA and Palette PR merged.
Energi, which has offices in Toronto and Montreal, will expand its health and wellness practice, as well as its public awareness and consumer education specializations after the buyout, said Levine.
“We've been doing a lot more in the way of research, such as attitudinal research, quality of life research, and consumer trends,” she added, “so that will be another area for us to focus on.”
Consulting firm Stevens Gould Pincus counseled Levine and Buchsbaum during the buyout process, said Levine. The consultancy will continue to aid Energi with strategic guidance in the future.
Energi's management teams will remain the same at both offices, but the firm is planning to hire employees “in the very near future,” said Buchsbaum. She added that Toronto VP Lindsay Peterson Chisholm will play a more critical role at the firm.
Buchsbaum added that the agency will also work more closely with its US clients, adding that Energi is one of the few Canadian PR agencies that handles Procter & Gamble accounts. Energi works with P&G's Venus, Olay, and Herbal Essences brands.