LLYC Expands In Latam With Columbian Acquisition
Date
5/17/2024 3:16:54 PM
(MENAFN- PRovoke) BOGOTÁ - LLYC has acquired Bogotá-based Dattis Comunicaciones, bolstering the Spanish firm's presence across Latin America.
Dattis will become part of LLYC, operating as Dattis by LLYC in 2024, with integration efforts ongoing for 2025. Andres Ortiz and Camila Gomez Pardo will lead Dattis by LLYC as senior partner and president, respectively.
Dattis Comunicaciones, established 25 years ago, has over 100 employees, serves 80 clients, and has offices in Bogotá and Medellín, with plans to expand into Peru and Ecuador.
LLYC has been operating in Colombia since 2001, and with this recent acquisition, the company has consolidated its revenue in the country to over €12 million. LLY serves over 140 national and international clients, with a 175-person team and offices in
in Bogotá and Medellín.
LLYC will acquire an initial stake of 78.69% in Dattis at a valuation of six times EBITDA. Ortiz will retain the remaining 21.31%, which will be incorporated through a later share exchange with LLYC Colombia. Additionally, Dario Vargas, the company's founding partner, will sell all of his stake, as well as that of other minority partners.
“Colombia has always been one of our key markets in Latin America. Adding Dattis' talent, scope, and expertise to our value proposition represents a significant leap in our business vision in the country," said Juan Carlos Gozzer, LLYC's CEO for Latin America.
The Dattis move comes three months after LLYC acquired Lambert Global , creating a $35 million, 130-person US operation, and a year-plus after LLYC's other big US acquisition - San Diego tech firm BAM, which doubled LLYC presence in the US.
LLYC said it plans to make more acquisitions in the market.
The expansions is
part of LLYC's aggressive multi-tiered growth plan, which calls for doubling in size over the next three years.
LLYC, which focuses on Spanish and Portuguese-speaking markets, reported 2022 income of $77.8 million, up 28% over the previous year, according to PRovoke Media's global agency rankings.
The agency went public in July 2021, when it was listed on Spanish stock market BME Growth . At that time, LLYC set a goal of raising €10 million through stock offerings.
In September 2021, LLYC bought Mexican creative agency Beso , tripling the size of its operation in the market. In addition, the firm acquired Spanish ad agency China in August 2021 and Spanish digital shop Apache in May of that year.
LLYC has acquired other agencies in the past six years: Impossible Tellers (Spain, 2015), S/A Comunicaçao (Brazil, 2015), EDF (USA, 2015), Arenalia (Spain, 2018), Diplolicy (Spain, 2018), and Factor C (Chile, 2020).
A 2015 investment from MBO & Co helped fuel the growth. In April 2021, however, LLYC bought back the private equity firm's 30% stake in the company .
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