Miles Nadal is continuing MDC Partners‘ acquisition spree, announcing today that Team Enterprises is joining MDC as a partner agency.
Team, based in Fort Lauderdale, Fla., is a national experiential marketing firm with 400 full-time staff and more than 6,500 part time staff.
The firm counts Miller Light, Dodge and Red Bull among its clients, and previously worked with MDC’s Crispin Porter + Bogusky on its Volkswagen and Coke Zero accounts.
The terms of the acquisition have not been made public, but sources familiar with the deal say the investment could go as high at $20 million over the next few years.
MDC’s model has it investing in partial or whole ownership of stand-alone agencies while leaving senior management in place to oversee each business individually. Its Canadian holdings include Zig and Allard Johnson Communications, among others.
"We believe experiential marketing is growing area of need and opportunity for our client base,” said Nadal, who is chairman of the Toronto-based holding company. "This is a very substantial incremental investment for us.”
Nadal sees the acquisition as a large-scale augmentation of MDC’s current experiential offerings–Lime Public Relations + Promotions, a division of New York-based Kirshenbaum Bond Senecal + Partners, and Boom Marketing, a division of Toronto’s 6 Degrees Integrated Communications.
"We have excellent capabilities within our organizations, but it’s more modest in scale. [Lime and Boom] will continue with their relationships, but I think they’ll now partner with Team to execute national or international campaigns,” Nadal said.
Nadal has said he is prepared to spend up to $100 million on acquisitions over the next 18 months, with the last few months already seeing a flurry of spending.
In December, MDC acquired Pittsburgh, Penn.-based data and analytics company Communifx. Nadal is also currently investigating other companies for acquisition.
"You’ll see us be very acquisitive over the next three to six months,” Nadal said.
