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LLYC doubles its size in the United States by buying BAM for 9.8 million


The communication consultancy acquires a San Diego public relations and marketing agency specializing in startups

The founder of LLYC, José Antonio Llorente, had been thinking about buying a company in the United States between his eyebrows for more than a year.

The communication consultancy has grown strongly in recent years thanks to acquisitions, but the US market resisted.

Until now.

The communication consultancy has announced this Thursday the purchase of BAM, an American public relations and marketing agency, which provides services to


and technology companies backed by venture capital.

With the operation, LLYC doubles its size in the United States.

BAM's valuation is €12.2 million and LLYC acquires an initial 80% stake in the company for €9.8 million.

The price, which is paid in cash, may be adjusted based on results from 2022 to 2025. As part of LLYC, BAM will continue to operate under its own brand.

His boss, Rebecca Bamberger, will continue to have a stake in the company running BAM's operations.

The addition of the subsidiary that the group already had in the United States with BAM gives rise to a business 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).

A year ago, in an interview, José Antonio Llorente assured that growing in the United States was his number one priority: "We would like to make relevant investments in the United States and have an operation there the size of the other businesses: Europe, America and Digital Business .

The United States should weigh as much as each of these and be 25% of the business, ”he said then.

"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," he now states in a statement.

The purchase of BAM is an important step in that direction.

With it, LLYC will have a team of more than 65 professionals in the United States, both on the East and West Coasts, with a portfolio of strategy and creativity services for all types of companies, from SMEs to large corporations.

BAM's headquarters are located in San Diego, California.

The agency operates in 14 states from coast to coast in the United States, complementing the 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 HR, DEI and talent consulting as part of its offering to help VC startups embrace strong and inclusive cultures.

"The acquisition of BAM underpins 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, in a statement.

“BAM's entrepreneurial spirit, its experience, close relationships with technology


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 after doubling its size and gross operating income since 2020 thanks in large part to acquisitions.

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).

“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”, says 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 the venture capital ecosystem, with even more resources."

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Source: elparis

All business articles on 2023-03-30

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