LEWIS PR, the global communications agency, secures $27M funding package from HSBC
LEWIS PR, the global communications agency, has announced a new $27 million funding package from its global banking partner, HSBC.
The funds will allow LEWIS to accelerate the launch of new services and offices through acquisition. In response to client demand, the agency will focus on extending its digital marketing capabilities and expanding further in India, China, South America and the US.
The new agreement extends over five years and allows LEWIS to take majority or minority stakes.
Founded in 1995, the company has sustained a Compounded Annual Growth Rate of 28%. It grew revenues by 40% last year alone.
“We seem to have found the sweet spot between the global reach of a big agency and the value and creativity of a digital boutique,” said Chris Lewis CEO. “This is resulting in unprecedented demand from our clients around the world. It’s great to see the investment we’ve made over the last five years really paying off.”
“HSBC has a strong appetite to support the growth of ambitious mid-market businesses like LEWIS where our international expertise really comes into its own,” said Mark J Brown, Managing Director, London Large Corporates at HSBC.
“We have seen LEWIS grow over the years, and I am pleased we are able to be part of this exciting period for the business, helping it take forward its growth plans to reach and surpass its potential.”
In addition to client services, the company will invest a further $3m over the next two years in staff development and training. The majority of this will go into Rise, the training joint venture with staff from University of the Arts London. Launched in 2014, Rise has already trained 44 staff from 17 countries.
The company recently acquired Piston, a full service digital agency based in San Diego, CA. Piston specializes in digital marketing including search engine and display advertising, media planning and buying, analytics and creative design services. Piston’s clients include AAA, AARP, BareMinerals, Cars.com, Intuit, Inspirato, Mophie, Shiseido, Skullcandy, Sunglass Hut, TVG and Yakult. LEWIS now has global revenues in excess of $72 million, with combined U.S. revenues of more than $37 million.
About LEWIS PR
LEWIS PR is a global communications agency. In addition to traditional media and analyst relations, LEWIS specializes in social media, digital marketing and creative services. It works with companies to implement integrated communications programs on an international scale. LEWIS works with leading and emerging brands across multiple sectors, including automotive, consumer, government, healthcare, insurance, legal, non-profit, technology and telecom. LEWIS has 28 offices across the US, EMEA and Asia Pacific, with regional headquarters in London, San Francisco and Singapore.
Source: Press Release