NEW YORK: Lambert, Edwards & Associates has acquired Owen Blicksilver Public Relations, a New York-based financial communications firm.
The deal, which marks Lambert, Edwards & Associates’ fifth acquisition, ups the firm’s headcount to 65 and its client count to more than 150. It also opens a New York location for the Detroit-based firm, according to a statement.
Lambert, Edwards & Associates wasn’t immediately available for comment.
Both agencies will keep their brands. All senior account staff at Owen Blicksilver will remain to ensure continuity, while founder Owen Blicksilver will serve as president of his respective unit under a multi-year agreement, a statement said.
Financial details weren’t disclosed. CEO Jeff Lambert said in the a statement that this is his firm’s largest acquisition to date.
Owen Blicksilver has expertise in financial transactions and strategic positioning across private equity, real estate, financial services, bankruptcy, crisis, litigation support, and b-to-b marketing, a statement said.
The deal expands Lambert, Edwards & Associates’ geographic reach, boosts its IR and financial comms practices, and adds more C-suite level advisors. An office in New York, known for its media and financial market, will benefit its food and beverage practice and CPG clients.
Owen Blicksilver handled 46 M&A deals last year, down from 65 the year prior, according to Mergermarket’s PR League Table.
Owen Blicksilver started the firm after leaving Citigate Sard Verbinnen. One of its longtime clients is Colony Capital, the private equity arm of Colony NorthStar, who was pursuing a deal with The Weinstein Company.
The firm run by Thomas J. Barrack Jr. eventually pulled the plug on the deal.
Owen Blicksilver also handled media comms for Miramax, another Weinstein company, which was sold to Disney in 1993. During the financial crisis, it advised Stanley O’Neal, the CEO of Merrill Lynch that was ousted after a massive quarterly loss.
"Advisers on the transaction included M&A advisory firm The Stevens Group, law firm Warner Norcross & Judd LLP, and New York counsel Silverman Acampora LLP, with financing by Mercantile Bank of Michigan," a statement said.