Art Stevens offers a primer for firms looking to be acquired, discusses the recent growth in the PR market and shares tips for potential sellers on what to and not to do.
This week on Coffee Break, PRWeek editorial director Steve Barrett is joined by Art Stevens, managing partner, The Stevens Group.
Stevens talks about the world of PR agency acquisitions — a hot topic right now — and what he is seeing in the marketplace. The interview includes advice for those considering selling their agency, the different types of deal, why deals can go sour and pitfalls to avoid, and more.
Stevens has been a PR agency M&A consultant for 15 years, having sold his own firm — LobsenzStevens — to Publicis Groupe in 1999.
Coffee Break topics:
- About The Stevens Group and the role Art Stevens plays in the company.
- How does a deal come about and what do you do for clients?
- PR agencies’ overall rise in business and the M&A market’s impact
- Private equity firms vs. PR agencies as buyers and how business is different
- Biggest differences going with a private equity deal or going with an agency
- Previous leaders staying on with a company after being acquired vs. new leadership
- Pros and cons of a company making many acquisitions over a short window of time
- Stagwell Group and Finn Partners investment
- Real Chemistry’s growth
- What is the difference in doing business with major holding companies?
- Tips for companies looking to sell and pitfalls to watch out for
- How to not let being acquired overshadow the quality of your business and the attention you give clients