Prosper Group Advises SKDKnickerbocker In Acquisition By Steve Ballmer /Mark Penn Led Investment Firm Stagwell Group
Latest in Series of 2015 Deals, Consulting Assignments for Prosper Group
New York (Monday, October 12, 2015) – Prosper Group, a consulting firm advising owners of marketing communications agencies, served as transaction advisors to SKDKnickerbocker in SKDK’s sale to Stagwell Group, which the parties announced last week.
Stagwell Group is an investment company launched in June 2015 by communications veteran Mark Penn with financial backing from Steve Ballmer.
SKDK, DC-based public affairs firm founded in 2010, develops and executes strategy, media relations and crisis communications for some of the world’s largest brands, associations and non-profits. The firm is noteworthy for its work with political candidates, referenda, and issue campaigns across the country.
Prosper Group was founded in 2014 by industry veterans Alex Halbur, Larry Kamer, and David Bosses.Prosper Group’s work with SKDK included identifying and evaluating offers from multiple buyers, advising throughout the negotiation process, and counsel during due diligence and legal documentation. Prosper will also play a role in the integration process.
Bosses, who heads the firm’s New York office, led the assignment and said the deal was a milestone for Prosper Group both in size and complexity of the transaction. “Without a doubt, SKDK is best of breed among strategic communications and public affairs firms. It’s the initial investment for Stagwell Group and provides a great start for the implementation of their growth strategy. The planning, discussion, and attention to detail that made this deal possible will help propel SKDK to the next level and yield tremendous benefits for its clients, employees, and its owners,” Bosses said.
SKDK New York Managing Partner Josh Isay said Bosses and Prosper Group were indispensable during the process. “A transaction like this requires the counsel of a seasoned professional to guide us through the process from valuation, negotiation, due diligence, document review, and closing. We wanted a successful deal, but we had to stay focused on our clients, our employees, and our business. Having David Bosses and Prosper Group by our side allowed us to do that,” Isay said.
Prosper Group is celebrating its first anniversary this month. Managing Partner Alex Halbur said the firm’s breadth of experience in public relations, digital, and public affairs firms has propelled Prosper Group’s involvement with a number of transactions in the past 12 months, including:
M&C Saatchi in its acquisition of Glendale, CA – based digital marketing agency Heavenspot
Nuffer Smith Tucker in its acquisition of public relations agency The Gable Group, both in San Diego
More than a dozen confidential relationships with other firms to provide consulting services in the areas of agency performance improvement, agency owner transition and exit planning, next-generation management recruitment and development as well as M&A transactions including internal sales, external sales, divestitures, and ESOPs.
About Prosper Group Consultancy, LLC
Alex Halbur, Larry Kamer, and David Bossesfounded Prosper Group in September 2014 to bring the expertise of former agencyowners and leaders of global agencies to independent agency owners looking forsupport in charting a course for their future.Prosper Group serves as performance improvement, organizationaldevelopment and transaction advisors to owners of marketing communications agencies.Prosper Group has offices in New York, Washington DC, Los Angeles, and SanFrancisco.Learn more: www.prospergroup.net.