HH Global has finalised its acquisition of Adare International, including Purple Agency, from private equity firm Endless LLP following the signing of an agreement in June, with the combined business set to generate around $2.1bn (£1.53bn) in annual sales.
The deal is the latest in a raft of HH Global acquisitions, having snapped up Blueberry Wave and GB Group (now rebranded HH Global Interactive) and rival Chicago-headquartered InnerWorkings.
The move comes just over 12 months after HH Global secured a £100m war chest – in a deal with Blackstone Tactical Opportunities – to develop its data and digital multichannel marketing offering through further acquisitions. Blackstone has more than $554bn (£422bn) in assets under management.
Adare has been owned by Endless since 2015, when it changed hands in a deal worth £60m. The group is made up of four specialist business units with a combined turnover of £170m: Adare International, led by Purple Agency; print and ebusiness firm Adare Limited, design company Adare Advantage, and anti-fraud specialist Kalamazoo Secure Solutions.
Terms of the HH Global deal have not been disclosed but it will create a joint global business with over 4,000 employees and a presence in more than 65 countries. It is designed to allow stronger in-country operations, helping to propel seven of HH Global’s local markets to achieve local annual run rates of over $50m revenue for the first time.
The rationale behind this latest acquisition is centred on the strategic fit and complementary nature of the businesses, ultimately allowing HH Global to further consolidate its position in market.
The acquisition will allow the company to expand capacity and reach, particularly in Europe and Latin American markets. Furthermore, Adare International’s solution offerings, as well as expanded agency and interactive service lines, will allow HH Global to significantly diversify and increase its proposition.
Along with improving current services, the acquisition will also establish an increased capability in market sectors such as healthcare and B2B marketing.
Adare will now fall under the HH Global brand, although Purple Agency will retail its name for the foreseeable future.
HH Global group chief executive Mike Perez (pictured) said: “Following on from the successful integration of InnerWorkings in October last year, we are thrilled to join forces with Adare International. Welcoming new clients and colleagues on board is always an exciting process, and the strength of Adare International in these areas was a key motivation for our interest in acquiring them.
“I’m also particularly excited to enhance our capabilities in creative services in the healthcare and B2B sectors with Purple Agency, and to take advantage of the enhanced geographical reach and local revenue within their regional operations.
“The complementary nature of our business models and our shared passion for innovation, sustainability, and commitment to delivering outstanding services, assures me that this acquisition will allow us to continue to boost the growth momentum we have built over the last few years.”
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