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Posts Tagged ‘Miles Nadal’

MDC’s Miles Nadal On Why He’ll Keep Buying Up PR Agencies

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Here’s an interesting exchange from an AdAge interview with MDC CEO Miles Nadal.

Nadal’s holding company — known best for being the parent of Crispin, Porter & Bogusky — has been snapping up PR agencies lately. Recent acquisitions include Attention in September, Sloane and Co. in April and Allison & Partners just last week.

AdAge: You’ve been on an acquisition spree, buying up a number of lesser-known agencies. Why is MDC so aggressive right now?

Mr. Nadal: There was a great quote by Warren Buffett that says when it’s raining gold, you should find a pail and not a thimble. We started [acquiring] a year ago when the world was very uncertain. There were a number of firms that were in the fastest-growing areas of marketing communications, i.e. PR, social media, interactive, data analytics and data mining and experimental. These are firms we had been following for a long period of time.

We intentionally [held off before] because we didn’t understand the value proposition of the businesses other people were acquiring. We are contrarian. When everyone was growing through acquisition, we were growing organically. … When nobody was being acquisitive, we thought this is a wonderful time. For the most part, banks are not lending, and our access to capital is more valuable to partners today than before.

The marketplace has changed drastically and the environment of media has changed with fragmentation. The firms that really understand the changing landscape and know how to come up … are the younger, more entrepreneurial firms in our industry. They really are in the business of trying to identify return on marketing investment for our clients.

AgencySpy reports on MDC’s other recent acquisitions, including Fort Lauderdale, Florida-based experiential marketing firm TEAM and agency Plaid.

MDC Partners Acquires Allison & Partners

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Holding company MDC Partners (NSDQ: MDCA) continued its acquisition streak today, acquiring mid-size PR agency Allison & Partners.

“It’s been a long time relationship. We’ve known Miles [Nadal, Chairman and CEO, MDC Partners] and his team for three years now.
As we’ve studied all of our options for growing the business, this seemed like best for both worlds, where we get to build our brand, partner, and maintain an equity position,” said Scott Allison [pictured], CEO of Allison & Partners in a phone interview with PRNewser today.

Allison & Partners clients include Best Western International, ARAMARK, Progressive Insurance, Samsung, Boost Mobile and Sony. The agency counted $14.7 million in revenue for 2009, and is headquartered in San Francisco, with offices in New York, Los Angeles, Washington D.C., Seattle, Phoenix, Atlanta and San Diego.

“We are incredibly impressed by the breadth of knowledge and the outstanding track record and expertise, particularly in the fields of digital and social media that Scott and Andy and their team at Allison & Partners possess,” said Miles Nadal, Chairman and CEO, MDC Partners.

Terms of the deal were not disclosed.

In September 2009, MDC invested in social media focused agency Attention. In April 2010, MDC acquired Sloane & Company. MDC Partner’s other holdings include Crispin, Porter & Bogusky, Media Kitchen, Veritas Communications and Lime Public Relations + Promotion.

MDC Partners Acquires Majority Interest in PR Firm Sloane & Company

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Holding company MDC Partners (NSDQ: MDCA) announced today it has acquired a majority interest in New York-based PR agency Sloane & Company.

Sloane & Company chief executive officer Elliot Sloane told PRNewser in a phone interview today, “it’s a great transaction for our firm. It’s strong validation for our model, for our success, for type of work that we do.”

Sloane also said that he “didn’t have a banker,” and “wasn’t shopping the firm.” He has known MDC Partners chairman and CEO Miles Nadal for many years and said, “this is something we had been talking about on and off for a number of years.” Terms of the deal were not disclosed.

“We believe that most of the innovative initiatives happening in marketing communications today are happening within the public relations arena,” said Nadal in a release announcing the acquisition.

Sloane & Company specializes in financial communications, public affairs, and crisis communications. Its clients include Walgreens, New York Life, Medtronic, T. Boone Pickens, TiVo and Business Bermuda.

MDC Partner’s other holdings include Crispin, Porter & Bogusky, Media Kitchen, Veritas Communications and Lime Public Relations + Promotion.

In September 2009, MDC invested in social media focused agency Attention.

MDC Partners Issues Press Release To Praise Its Agency Crispin Porter + Bogusky

Our sibling blog AgencySpy noticed this press release from MDC Partners, parent company of trendy ad agency Crispin Porter + Bogusky, piling praise on Crispin for being named “Agency of the Decade” by Advertising Age, among other accomplishments.

MDC Chairman and CEO Miles Nadal said the holding company “has created a culture that is a magnet for the most talented people in the business.”

The tone of AgencySpy’s post suggests the release is a bit much, after the public accolades Crispin has received from industry press, but here at PRNewser, we never put it past a company to capitalize on good press.

MDC Partners Invests in Attention

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Breaking: MDC Partners, a marketing and communications network, has announced an investment in Attention Partners LLC, a social media marketing and communications agency. Companies in MDC Partners’ network include Crispin, Porter & Bogusky, Media Kitchen, Veritas Communications and Lime Public Relations + Promotion.

Social media is a powerful vehicle for consumers to emotionally engage their favorite brands. We must stimulate more intimate interactions through peer-driven word-of-mouth, and the creation of trusted communities, to drive customer advocacy. We are privileged to partner with Attention,” said Miles Nadal, Chairman and CEO, MDC Partners in a statement. Attenion founder Curtis Houghland posted on the agency’s blog today to address why Attention “partnered with MDC.” Terms of the deal were not disclosed.

RELATED: Attention Hires Kristin Maverick as Director in Consumer Practice

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