Results International has advised Circus on its acquisition by Grey

  • Service: M&A
  • Sector: Technology
  • Sub Sector: Digital Marketing
  • Engagement Type: Sell Side
Jun 2014
has been acquired by
a WPP company

Founded in 2008, with headquarters in Lima, Peru, Circus is a full-service, integrated marketing company with a number of operating units in digital, retail, experiential marketing, branding and design and revenue of $12.1 million in 2013.

SITUATION
Circus, currently the largest advertising agency in Peru with 250 employees, was founded in 2008 through the management buy-out of a successful local operation of a multinational network. Circus is a full-service, integrated marketing company with a number of operating units in digital, retail, experiential marketing, branding and design. Circus is highly respected for the quality of its management, award-winning creative output, client roster and its impressive growth.

OPPORTUNITY
Over the last few years, Peru has become an increasingly important market in the advertising industry, for its creativity and innovation, also thanks to the creative brilliance of Circus which has been a real push for the industry. Juan Carlos Gomez de la Torre, the majority owner of Circus, is considered to be the most influential ad man in Peru and one of the best creatives in Latin America.

Grey identified in Circus, especially its executive team, a way to strengthen their position in the Peruvian market.

OUTCOME
What really made this transaction attractive to both parties was the fact that both Circus and the existing Grey operation in Peru will be integrated and managed by the current executive team at Circus. We believe this is a perfect match, as joining forces will reflect in a benefit for the clients, for the staff, and it will help maintain the essence of both agencies Circus and Grey as the brand leaders in the Peruvian market.

Without any doubt, this has been the largest and most ambitious acquisition in the history of Peruvian advertising, and we at Results are very happy to be a part of this successful transaction.

If you would like any further information on this transaction, or about our people, please don’t hesitate to contactEduardo Steiner who led the transaction.

Their greatest value came from their knowledge of the sector and its players. Eduardo Steiner, Results' Partner for Latin America, was in charge of the whole process, and worked diligently and professionally at all times, always looking out for our best interests. Undoubtedly Eduardo knows this industry and its regional peculiarities profoundly. This has provided us with a great degree of comfort and assurance during the long negotiation process, till its happy completion as planned. I have no doubt that this advice coupled with remarkable negotiation skills, has enabled us to receive an increased value for our shares.

Marco Milesi

CEO, Circus

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