Gould+Partners (G+P) announced the firm’s role in the successful closing of two major client transactions with the sale of both Padilla and CooperKatz on July 31, 2018.
G+P’s M&A client, AVENIR GLOBAL (owner of NATIONAL Public Relations, the largest PR firm in Canada), acquired Minneapolis-based Padilla, the 7th largest independent firm in the U.S. ($40+ Mill net revenues in 2017) with five additional offices in NYC, Chicago, D.C., Richmond VA, and San Francisco.
In addition, G+P’s Seller client, CooperKatz, was acquired by G&S Business Communications (formerly Gibbs & Soell), the 11th largest independent firm ($27+ Mill in net revenues in 2017).
CooperKatz was represented by Rick Gould, managing partner of Gould+Partners. G+P worked closely with Ralph Katz and Anne Green in facilitating the transaction with G&S Business Communications President & CEO Luke Lambert and EVP Jeff Altheide.
G+P will have a full profile of all four firms in the August edition of its newsletter, Inside Edge.
“We are proud to have helped facilitate these two transactions that will prove to be great combinations for both buyers and sellers,” said Gould. “It’s significant that both closed yesterday within the same hour, a probable first in PR M&A history. With the strong growth of independent mid-sized PR firms, as reported last week in our annual Revenue Benchmarking Report, we see a significant step-up in M&A activity in the PR industry.”