M&A Advisory firm Clare Advisors www.clareadvisors.com) is pleased to announce that it served as exclusive financial advisor to Carousel30, an award-winning, digital agency, in its sale to PCI Communications. As part of the transaction, PCI Communications, LeapFrog Solutions, and Carousel30 will combine and begin operating as Yes& (https://www.yesandagency.com) — pronounced “Yes and.” Carousel30 founder Greg Kihlström will serve as Senior Vice President of Digital of the combined firm.
Based in Alexandria, Virginia, Carousel30 (www.carousel30.com) is one of the premier digital marketing and website development agencies in the greater Washington, D.C., area. The agency was founded nearly 14 years ago and has deep expertise in financial services, real estate, and hospitality. Carousel30 has worked with regional and national clients such as Navy Federal Credit Union, United Bank, Brown Advisory, and Booz Allen Hamilton.
Speaking about the combination, Yes&’s President and CEO Robert Sprague said, “I think it’s going to be very powerful for folks. [For] many who have only advertised traditional print and broadcast, we’re able to bring a lot of digital strength to that, or clients that are primarily PR-oriented, we’re able to mix in some paid social, and really have the right tool for the job, and the right mixture of tools.”
“Clare Advisors was a key part of Carousel30’s business and financial strategy both leading up to and during the acquisition process,” said Carousel30 founder Greg Kihlström. “Because of the great support we had from Clare Advisors, the process was streamlined, transparent, and both teams were able to focus on the important strategic components involved with such a merger/acquisition.”
The combined firm will have gross profit — billings minus cost of goods sold — of more than $10 million and expects gross profit growth of 132 percent in 2018 over what PCI achieved in 2017.
About Clare Advisors:
Clare Advisors is a boutique Mergers and Acquisitions (M&A) and Financial Advisory firm that specializes in servicing digital advertising, marketing communications, media, and internet-based businesses. For more information, please go to www.clareadvisors.com, or contact: John C. Burns III, Managing Director, at Jburns@clareadvisors.com.