NEW YORK: G&S Business Communications has acquired New York-based CooperKatz & Company.
The CooperKatz brand will be phased out in weeks, said G&S president and CEO Luke Lambert. G&S and CooperKatz are hoping to move into a shared office by the end of Q1 2019. The combined firm will have more than 180 staffers.
CooperKatz founder and principal Ralph Katz will join G&S as EVP. President and CEO Anne Green will serve as principal and MD in G&S’ 65-person New York office, according to a statement from the firm. Green will replace Audra Hession, principal and MD, in the role. Hession has moved into the role of MD of corporate and reputation management, which the firm has formalized as a practice under her leadership.
Financial terms of the deal weren’t disclosed.
Katz and Lambert held a meeting last October to explore a deal with the goal of accelerating growth. They said they wanted to assess what a combined agency would look like, whether their cultures would be a good fit, and whether there might be conflicts.
"At the turn of the new year, we got real serious," Lambert said. "With our combined leadership teams, we made a real effort for them to meet and explore synergies. That’s when we [found] this cultural fit was perfect and we both agreed: let’s do this."
After many meetings and office tours, the deal closed on Tuesday.
Lambert said the combined agency will see 300% growth in financial and professional services and 25% growth in home and building solutions. Adding CooperKatz will also give G&S its first taste of healthcare work. For CooperKatz, the deal will result in a foray into agribusiness, agriculture, and advanced manufacturing. Green said the acquisition will also deepen CooperKatz’s capabilities, particularly in digital and research and analytics.
"It was important for us to be paired with a modern vision of the future," said Green.
G&S saw 13% revenue growth last year to $27.3 million, while Cooperkatz was up 17% to $5.6 million.
This story was updated on August 1 with additional information.