Marketing and branding group Loewy has won investment from top marketing sector investor Veronis Suhler Stevenson (VSS), to finance its ongoing corporate expansion.
VSS is offering a £12 million package of US and European investment support which will enable Loewy to close two further mergers in the coming weeks. The mergers will take Loewy to 350-strong in staff numbers, £47million in turnover and pro-forma profits of £7.5m per year.
The mergers will also strengthen Loewy’s design and communications capabilities in core FMCG, tech and corporate sectors as well as contribute to Loewy’s goal of building a close-knit family of creative world-class specialists.
Loewy CEO, Charlie Hoult, said, “Our ambition has always been to build a group that has heavyweight creative integrity as well as the scale to work with the world’s leading brands. It’s great to see that our model is getting such attention – we’re inundated with agencies keen to join us, because of the flexibility we give to specialists to stay special, while offering a platform for “Big League” collaboration. With fire-power to close more deals and bigger deals, we should see some industry-shaping announcements in the months ahead.”
Hal Greenberg of VSS said, “Loewy has already proved itself a platform company making shrewd add-on acquisitions over the last three years and we are keen to see that develop further. We are delighted and excited to be a part of the Loewy future.”
With $2.8 billion (£1.4bn) under management, VSS offers credibility for Loewy in its ambitious growth plan which includes further possible mergers. VSS will also receive a seat on Loewy’s board of directors.
Loewy has spent the last three years creating a powerful branding and communications group of marketing specialists in the food, FMCG, retail, technology, corporate and public sectors. The specialist agencies have been brought together under the Loewy master brand with its iconic, global and brand-building heritage.
Further details on the deal can be found under the News section on Loewy’s website at: www.loewy.co.uk