The two companies are part-owned by the same private equity backer – Pegasus. This means the ownership structure will not change because of the merger, however, so no money has changed hands.
GyroHSR boss Richard Glasson says the combination comes at a time when business is booming. “We’re about to put in our all-time record month,” he says.
“We’re in a market that plays to our strengths because we’re able to take a clients’ budget, deploy it effectively, generate return on investment and leads for them.”
The new entity has 17 offices in 15 cities in nine countries across Europe, North America and the Middle East. Combined revenues total approximately US$100m and GyroHSR employs more than 600 employees.
Glasson will direct the new agency’s overall strategy and operations from London. Gyro’s chief operating officer, Richard Perry, will continue in his role while HSR co-founder Rick Segal becomes North America chief executive and GyroHSR’s global practice leader for business-to-business marketing. Segal is based in Cincinnati.
Glasson adds: “The fact we’ll now have a large American presence means there’ll be plenty of opportunities in the US, and the same can be said for HSR in Europe.” Related articlesDarling bows to pressure over business ratesEntrepreneurs respond to government loan schemeHow to buy a company in the US