LLYC acquires BAM and doubles its presence in the U.S.

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Mar 30, 2023, 12:30 ET

Global consultancy expands service offering with acquisition of a venture capital specialist agency

MADRID and SAN DIEGO, March 30, 2023 /PRNewswire/ -- LLYC, a global communications, digital marketing, and public affairs firm, today announced that it has acquired BAM, a leading U.S. public relations and marketing agency serving venture-backed and established and technology companies. The acquisition accelerates LLYC's aggressive growth strategy and doubles its size in the U.S.

Alejandro Romero, Global CEO of LLYC, and Rebecca Bamberger, CEO of BAM, at the time of signing

This operation makes LLYC U.S. the firm's third largest operation with a consolidated total revenues of $17 million, only after Spain ($39 million) and Mexico ($18.1 million). It will also create a team of more than 65 professionals, in both the East and West Coast, as well as a portfolio of solutions and services that offer strategy and creativity based on exponential technologies for SMEs and large corporations.

"The acquisition of BAM supports our international growth strategy and allows LLYC to rapidly scale in the U.S. and broaden our service proposition," said Alejandro Romero, Partner and Global CEO of LLYC. "BAM's entrepreneurial spirit, expertise, and deep relationships with technology startups and the venture capital community set them apart from other agencies in the space. We're thrilled to welcome the BAM team to the LLYC community."

LLYC currently operates out of 20 locations worldwide and it is ranked among the world's top communications companies by PRWeek and PRovoke. LLYC has nearly doubled its size since 2020, and its acquisition of BAM supports the company's strategic growth trajectory. LLYC has duplicated its EBITDA since 2020 and has improved its operating revenues by 36% in 2022 to EUR 72,7 M.

BAM's headquarters are based in San Diego, California, but operates in 14 states from coast to coast in the United States, creating a perfect balance of geographic presence in the country, in addition to LLYC's established operations in Miami, Washington D.C. and New York. BAM runs integrated communications programs for venture backed technology companies. The agency also offers human resources, DEI, and talent consulting as part of its Human Comms offering to support venture backed startups in building strong and inclusive cultures.

"After two years of meticulous effort and more than 65 meetings with potential partners, we finally found our partner, LLYC. The agency is truly unmatched in our industry and holds the same values as us," said Rebecca Bamberger, CEO of BAM. "Joining LLYC is a natural next step in the evolution of BAM and a hugely exciting opportunity for our team. LLYC's global reach, digital capabilities, and depth of expertise will provide BAM 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 expand the firm in a key market such as the United States," said José Antonio Llorente, Founding Partner and Chairman of LLYC. "This is a quantitative leap because it allows us to double our business in the country, but also a qualitative one because BAM's spirit, values, and technological focus fit perfectly with LLYC's philosophy."

The deal strengthens LLYC's capabilities and cements its position as a leading global communications, digital marketing and public affairs consultancy. The initial valuation of BAM is $13.2 million and LLYC is acquiring an initial 80 percent stake in the company. The initial price may be adjusted on the basis of the performance from 2022 to 2025. The total price is to be paid in cash. As part of LLYC, BAM will continue to operate under its own brand, while creating value-added synergies with the company's entire international network. Bamberger will continue to hold a stake in the company and lead BAM's operations.

LLYC's clients in the USA, among others, include: Ab InBev, DHL, Siemens, Fortinet and the University of Arizona.

The acquisition of BAM is part of LLYC's ambitious plan to double in size over the next four years through selective acquisitions of companies that operate in key areas or strategic markets. The purchase of BAM is the eighth acquisition LLYC has executed in as many years. Completed integrations include BESO (Mexico, 2021), APACHE (Spain, 2021), CHINA (Spain, 2021), Impossible Tellers (Spain, 2015), S/A Comunicaçao (Brazil, 2015), EDF (U.S. 2015), Arenalia, Diplolicy (Spain, 2018) and Factor C (Chile, 2020).

LLYC was advised by a team at Greenberg Traurig, P.A. led by Antonio Peña and Henry Roque. BAM was advised by Agency Futures led by Doug Baxter.

SOURCE LLYC