NEW YORK: MDC Partners has acquired a majority interest in Allison & Partners, its second acquisition of a PR firm in the past month.
MDC CEO and founder, Miles Nadal said, “We believe that the most interesting developments in communications and marketing are happening in PR, and we have long admired Allison & Partners' approach and feel it fits in well with our culture." Founder Scott Allison will remain the agency's president and CEO.
Founded in 2001, Allison & Partners has eight offices and 80 staff across the US. According to PRWeek's Agency Business Report, the firm's 2009 revenue was $14,662,255. Among its clients are Johnny Rockets, Samsung Information Technology, and the California Tobacco Control Program.
In April, MDC obtained a majority interest in Sloane & Company, a PR agency that specializes in financial communications, public affairs, and crisis communications. Last year, it took a stake in social media PR firm Attention.
Nadal confirmed that MDC has more acquisitions planned and that it is already in talks with several organizations. “You can expect to see MDC do more in the PR space and we are also interested in other areas which include social media, data analysis and data mining,” he added.In a statement, Allison noted that by choosing to sell a majority stake he was opening up opportunities for the firm to grow further. “In MDC Partners, the chemistry was right from day one, where we found kindred spirits who share our vision of the PR and public affairs agency of the future,” he added.
Allison and Nadal both emphasized that the acquisition would not impact management or operations at Allison & Partners.
“We never buy 100% of an organization because we believe that by partnering an agency's management team and talent with MDC's investment and expertise we can achieve a lot more,” said Nadal.
MDC's other agencies include Crispin Porter & Bogusky, Kirshenbaum Bond Senecal & Partners, Zig, and Redscout, among others.
In a column in this month's print edition of PRWeek, Nadal describes his vision of tomorrow's PR firm.