|Ciesco Group is pleased to announce the successful completion of its latest transaction, advising the shareholders of MODCo Media, a full-service media agency based in New York, on the sale to Serviceplan Group, the largest independent agency group in Europe. This marks the first entry into the US market for the Germany-based group.
Founded in 1991, the New York-based MODCo Media has been one of the few independent creative full-service media firms left in the US. With a strong media capability (over $110M in annual billings), MODCo Media integrates strategic planning and media buying with creative solutions across all platforms, providing communication strategy, media planning & buying, reporting & analytics, and SEO services. The agency has worked with some of the most successful fashion, luxury and entertainment brands, including Rockstar Games, 2K Games, Kenneth Cole, True Religion, Vera Wang, Hunter and Brighthouse Financial, part of MetLife.
Erik Dochtermann, founder and CEO of MODCo Media, is expected to maintain his executive leadership role as part of a newly formed Board of Directors.
Serviceplan Group is the largest independent communications agency group in Europe, with approx. €400m in agency fees generated by over 3,400 employees worldwide. The Munich-headquartered company operates an integrated model among its various specialist agencies (at more than 35 locations worldwide), combining its creative arm (Serviceplan), digital arm (Plan.Net) and media arm (Mediaplus) under one single roof to create a “House of Communication”. Numerous clients benefit from this integrated concept, including global brands such as BMW, BSH Bosch Siemens Hausgeräte, Continental, Deutsche Bahn, Deutsche Telekom, IKEA, Lufthansa, L´Oréal, Media Markt, MINI, Novartis, Sky and many others. The acquisition of MODCo Media in the US continues the acceleration of the group’s international strategy to make the Serviceplan brand known internationally, rolling out Houses of Communication across Europe, Asia and now in the US market as well.
Chris Sahota, CEO at Ciesco who advised the MODCo Media shareholders on the transaction, commented:
“It has been a pleasure working with such a forward-thinking and entrepreneurial company as MODCo and we look forward to watching the business flourish as it enters its next growth phase”.
Erik Dochtermann, founder and CEO of MODCo Media, further commented:
“Ciesco’s sector expertise, global network, and understanding of our business played a critical role in identifying Serviceplan as the right strategic partner for us. By joining forces with Serviceplan, we can significantly enhance the depth and breadth of our current service offering, enabling us to better serve the needs of both existing and future clients in the US and beyond.”
Ciesco acted as the exclusive advisor to the shareholders of MODCo Media. Transaction terms were not disclosed.