LLYC accelerates its ambitious growth strategy and doubles the size of its US business with the acquisition of agency BAM. As reported by the consultancy this Thursday, it has disbursed 9.8 million euros for this leading US agency in the public relations and marketing sector, which provides services to startups and technology companies backed by venture capital.
The sum of LLYC USA and BAM gives rise to an operation with total income of 15.7 million euros, making LLYC USA the third largest operation of the firm, only behind Spain (36 million euros) and Mexico. (16.7 million euros). Likewise, it will create a team of more than 65 professionals, both on the East and West Coasts, with a portfolio of solutions and services that offer strategy and creativity based on exponential technologies, for all types of companies, from SMEs to large corporations.
"The acquisition of BAM supports our international growth strategy and allows LLYC to rapidly scale in the US market by expanding our service offering," said Alejandro Romero, Partner and Global CEO of LLYC. "BAM's entrepreneurial spirit, experience, close relationships with technology startups and the venture capital community make it different from other agencies in the sector. We are delighted to welcome the BAM team to LLYC," he added.
LLYC currently operates from 20 locations around the world and is ranked as one of the leading global communication companies according to RWeek and PRovoke. The company has doubled in size since 2020. The acquisition of BAM supports the firm's strategic growth trajectory. Likewise, LLYC has doubled its EBITDA since 2020 and has improved its operating income by 36% in 2022 to 72.7 million euros.
BAM's headquarters are located in San Diego, California, however, the agency operates in 14 states from coast to coast in the United States, creating a perfect balance of geographic presence in the country along with LLYC offices located in Miami. , Washington D.C. and New York. BAM directs comprehensive communication programs for technology and venture capital companies. The agency also offers HR, DEI and talent consulting as part of its specialized 'Human Comms' offering to help VC startups embrace strong and inclusive cultures.
"After two years of meticulous efforts and more than 65 meetings with potential partners, we finally found our ally: LLYC. It is an agency like no other in the industry and has the same values as us," said Rebecca Bamberger , CEO of BAM. "Joining LLYC is the natural next step in BAM's evolution and represents an exciting opportunity for our team. The firm's global reach, digital capabilities and depth of knowledge will provide BAM's clients, and by extension , to the venture capital ecosystem, even more resources", he assured.
"The acquisition of BAM represents a decisive step for LLYC in our commitment to the expansion of the firm in a key market such as the United States", explains José Antonio Llorente, Founding Partner and President of LLYC. "This is a quantitative leap that allows us to double our business in the country, but also a qualitative one because BAM's spirit, values and technological approach fit perfectly with LLYC's philosophy," he says.
The agreement strengthens LLYC's capabilities and cements its position as a leading global consultancy in communication, digital marketing and public affairs. BAM's initial valuation is €12.2 million and LLYC acquires an initial 80% stake in the company. The initial price may be adjusted based on the results from 2022 to 2025. The total price will be paid in cash. As part of LLYC, BAM will continue to operate under its own brand, while creating synergies with the firm's entire international network, and Rebecca Bamberger will continue to have a stake in the business leading BAM's operations.
The acquisition of BAM is part of LLYC's ambitious plan to double its size in the next four years through selective acquisitions of companies operating in key areas or strategic markets. The purchase of BAM is the eighth acquisition that LLYC has made in recent years.
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