Diana Marszalek 25 Jun 2021 // 6:01PM GMT
MADRID — LLYC plans to go public in hopes of raising up to €10 million to further the agency’s growth.
LLYC will be targeting institutional and retail investors with its planned initial public offering, the timing of which is dependent on regulatory approval. The agency also has applied to be listed on Spanish stock market BME Growth.
In announcing the IPO plan, LLYC said its goal of raising €10 million through stock offerings is part of a multi-tiered approach to doubling in size over the next five years. Integrating technologies, acquisitions, breaking into new markets through alliances and driving organic growth are all components of the strategy.
“The offering we announced (this week) will propel the LLYC project further in the direction we have been heading in recent years, helping us consolidate our position as one of the main communications, public affairs, and marketing consulting firms on the international stage,” said LLYC’s founding partner and chairman Jose Antonio Llorente.
“The communications sector presents an excellent growth outlook, particularly in sectors connected to the opportunities offered by exponential technologies — a field where LLYC is very well positioned thanks to our in-house talent, our extensive knowledge, and the ecosystem we have developed through alliances and partnership agreement," he said. " LLYC represents an opportunity for investors interested in becoming part of a sector of the future, one that has shown its importance in recent years; in modern society, all participants need to relate to their operating environment in a more balanced fashion."
The move comes on the heels of LLYC’s May acquisition of digital shop Apache, the most recent in a string of acquisitions across Spain, Brazil, the US and Chile that have expanded its network to 16 offices across Iberia and the Americas. The firm is ranked 46th in the world, according to Provoke Media’s Global 250, with 2021 fee income of nearly $49 million.
A 2015 investment from MBO & Co has helped fuel the growth. In April, however, LLYC bought back the private equity firm’s 30% stake in the company.