SOURCE: PALAZZO Investment Bankers
NEW YORK, NY--(Marketwire - Aug 2, 2012) - PALAZZO (www.palazzonyc.com), a boutique investment bank serving marketing services, interactive, information, and new media companies, today announced it acted as exclusive financial advisor to Durham, N.C.-based ad agency McKinney in its sale to Cheil Worldwide. McKinney was advised in the transaction by Philip A. Palazzo, Jr., founder and President of PALAZZO.
McKinney, recently named the most effective independent advertising agency in the world by Effie Worldwide, will play a central role in the reinvention of Cheil's network in the Americas and beyond.
"McKinney serves as the ideal agency for Cheil's continued expansion in the Americas," said Palazzo. "This partnership will bring together two great companies with complementary geographic footprints, shared values and a rich history of award winning marketing campaigns."
Led by CEO Brad Brinegar, McKinney will maintain its name, its leadership team and headquarters in Durham, N.C., in a space designed to bring people together to inspire big ideas that now have global reach.
"After four years of charting our own course and producing unprecedented results for our clients, we couldn't pass up this golden opportunity to be better, bigger, faster," said Brinegar. "Cheil's enthusiasm for McKinney's independent spirit and the opportunity to help write the future of the global network sealed the deal. Though we're from different parts of the world, we share the language of success -- 'tuhon,' the relentless drive to achieve extraordinary results despite all obstacles."
McKinney becomes part of Cheil Americas, a regional network of agency partners led by CEO Buz Sawyer. McKinney will join Cheil USA, Cheil Canada, Cheil Mexico, Cheil Central America, Cheil Brazil and The Barbarian Group to help brands add value to people's lives with ideas that move seamlessly across channels.
PALAZZO is a boutique investment bank with a singular focus on creating value and wealth for owners and stakeholders of marketing services, interactive, digital, information, and new media companies. PALAZZO's suite of advisory and acquisition services, combined with our ability to deliver superior results, makes us the partner of choice for agencies intent on improving performance, or considering an M&A transaction.
For more information, visit www.palazzonyc.com
McKinney was recently named the most effective independent advertising agency in the world by Effie Worldwide and WARC. Over the past year, McKinney has won 44 major industry awards including five Effies, a Cannes Cyber Lion, six One Show Pencils, seven IAB MIXX Awards, a Webby and best-in-show website at the OMMA Awards. Founded in 1969, Durham, NC-based McKinney is recognized for one of the most innovative business models in the industry, focused on big ideas brought to life in powerful conversations between people and brands. McKinney has also been recognized as one of the best U.S. agencies, one of the "Best Places to Work in Marketing & Media" by Advertising Age, and one of a handful of agencies setting the standard for creativity by One Magazine. The agency's clients include Nationwide Insurance, Nationwide Financial, CenturyLink, Sherwin-Williams, Mizuno USA, Gold's Gym, Meijer, Ruby Tuesday, Big Boss Brewing and Urban Ministries of Durham.
About Cheil Worldwide
Cheil Worldwide Inc. is Korea's largest and one of the world's leading marketing communications networks. Established in 1973 with headquarters in Seoul, South Korea, Cheil operates 51 offices in 28 countries with about 3,000 employees. Cheil offers a full portfolio of marketing communications services including advertising, PR, sports marketing, exhibition and display production, and production of large-scale performance events.