SEATTLE: Pat Fearey, founder and CEO of Seattle-based communications firm The Fearey Group, sold the agency to current president Aaron Blank.
Blank, who joined Fearey in 2006, will assume the dual role of CEO and president on January 1. Fearey will remain on the board of directors to provide continuity for both clients and staff.
Financial details of the deal were not disclosed.
Some of Blank's expanded duties include focusing on the firm's new client development, staff recruitment, and financial management efforts. Blank will also continue to manage and grow the firm's PR, public affairs, digital marketing, video, and social media businesses.
“Over the last five years, we have expanded more into integrated communications, not just doing traditional PR, but also adding video, creative, graphic, web, mobile, and social components into the firm's ability,” said Blank.
The firm's main focuses are healthcare and real estate. Two former senior executives of a subsidiary of Weyerhaeuser Real Estate Company have joined The Fearey Group to help expand the agency's offerings in its real estate practice.
In terms of additional growth, the firm has recently secured clients in both Spokane, Washington and Anchorage, Alaska. Blank declined to name the clients. The agency is also looking to build business in Portland, Oregon, said Blank.
“Last year, we grew by 20%, and we expect to grow by the same amount every year going forward,” he added.
Before joining Fearey, Blank was a reporter and producer for CBS Radio, and worked at Edelman.
The Rainier Group provided advisory services on the financial transaction.