LLYC, the global communications, digital marketing and public affairs consultancy, today announced the acquisition of BAM, a leading US marketing and public relations agency serving startups and venture capital-backed technology companies. This acquisition accelerates LLYC’s ambitious growth strategy and doubles its size in the United States.
The sum of LLYC USA and BAM gives rise to an operation with total income of 15.7 million euros (17 million USD), making LLYC USA the third largest operation of the firm, only behind Spain (36 million euros / 39 million USD) and Mexico (16.7 million euros / 18.1 million USD). 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 proposition"said Alexander RomeroPartner and Global CEO of LLYC. "BAM’s entrepreneurial spirit, its 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".
LLYC currently operates from 20 locations around the world and is considered 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 (78.7 million USD).
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 DC and New York. BAM directs comprehensive communication programs for technology and venture capital companies. The agency also offers consulting in human resources, DEI and talent as part of its specialized offer’Human Comms‘ to help new venture capital firms 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 without equal in the sector and that has the same values as us"it states rebecca bambergerCEO 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 the venture capital ecosystem, with even more resources.".
“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."says J.Osé Antonio LlorenteFounding Partner and President of LLYC. "It 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”.
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 USD 13.2 million (€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.
Some of the clients that LLYC currently works with in the United States are: Ab InBev, DHL, Siemens, Fortinet and the University of Arizona, among others.
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. Completed integrations include BESO (Mexico, 2021), APACHE (Spain, 2021), CHINA (Spain, 2021), Impossible Tellers (Spain, 2015), S/A Comunicaçao (Brazil, 2015), EDF (USA, 2015 ), Arenalia, Diplolicy (Spain, 2018) and Factor C (Chile, 2020).
LLYC was advised by the Greenberg Traurig, PA team led by Antonio Peña and Henry Roque. BAM was advised by Agency Futures, led by Doug Baxter.
bam is a communication agency that believes that stories move the world. Drive stories for tech and VC brands that launch compelling digital campaigns, marketing, PR, and media relations.
LLYC is a global communication, digital marketing and public affairs consulting firm that helps its clients face their strategic challenges with solutions and recommendations based on creativity, technology and experience, seeking to minimize risks, take advantage of opportunities and take care of the environment. reputational impact.