WASHINGTON: Gibraltar Associates said that it acquired TheWadeGroup, a Washington-based communications shop. Financial terms of the deal were not disclosed.
The WadeGroup, which was founded by Terry Wade in 2002, has four full-time staffers and a “consortium” of 15 senior counselors who work with clients on an as-needed basis. It was founded in 2002 by Terry Wade, a former public affairs executive who has held positions at Cohn & Wolfe and Burson-Marsteller.
Jim Lake, president and partner at Gibraltar Associates, said the acquisition is part of the firm's effort to enhance its PR offerings, including traditional PR and marketing efforts that complement its public affairs and issues and crisis work.
"Culturally, it fits," said Wade, who was named a partner at Gibraltar. "We have a similar approach to how we do client service and how we manage staff."
Gibraltar, which was founded in 2007, reported $4.45 million in revenue in 2010. TheWadeGroup, which Wade says is known for its issues management work, has generated between $1.2 million and $1.3 million in total revenues over recent years.
As part of the acquisition, Gibraltar gains access to the consortium. It will also formalize a food and nutrition practice under TheWadeGroup SVP Dan Doherty. Lake said that all of TheWadeGroup's clients, including the American Gaming Association, will join the Gibraltar roster.