MIAMI — Furthering its rapid expansion plans, LLYC has acquired Michigan-based Lambert Global, tripling the Spanish firm’s presence in the US.

The acquisition of Lambert is expected to make LLYC a $35.1 million operation in the US, which will replace Mexico as the agency’s second largest region after Spain.

The deal calls for LLYC buying an initial 70% stake in the company for a price based on EBITDA performance in the next two years. There has been a payment of $18.2 million (€16,8 million) of the final price in advance.

All Lambert partners will join LLYC, including chairman and CEO Jeff Lambert, and president Mike Houston. Lambert, who launched his eponymous firm in 1998, will join LLYC's global executive committee. Both he and Houston will join the US executive committee. The agency Lambert will now operate as Lambert by LLYC.

The merger will create a team of roughly 130-person team with a national footprint. In addition to its Grand Rapids, Michigan headquarters, Lambert has operations in Detroit, New York, St. Louis and Phoenix. LLYC has offices in Washington, New York and San Diego.

"LLYC has been operating in the United States for 10 years and has always considered it a crucial growth market," said global CEO Alejandro Romero. "With the acquisition of Lambert, the company has taken a significant step towards becoming a leading consulting firm in the country. This acquisition expands LLYC's presence from coast to coast. Lambert is a perfect partner, and its integrated communications platform is an ideal fit for LLYC's philosophy, enabling the company to make the quantitative leap it has been seeking.”

The Lambert acquisition comes nearly a year 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 US expansion 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.