News
February 10, 2021The Martin Group Acquires Gramercy Communications
The Martin Group announced the acquisition of public affairs firm Gramercy Communications. The deal comes nearly three years after The Martin Group’s expansion into the Capital Region market, and one year after its announcement of a strategic equity investment from Hearst Newspapers.
As part of the agreement, The Martin Group will assume Gramercy’s existing client roster, including 25+ active public affairs, public relations, and marketing accounts. The agency will also retain key Gramercy staff members Andrew Mangini, who will lead The Martin Group’s public affairs practice, and Brittany Kenny. Gramercy founder and chief executive officer Tom Nardacci will join The Martin Group as a senior advisor. The transaction officially closed in late-January, with the transition effective as of February 1, 2021. Full terms of the acquisition were not publicly disclosed.
“Tom and I have talked for many years about the benefits of joining forces and fueling the growth of a preeminent public affairs operation in New York State,” said Matt Davison, chief business officer of The Martin Group. “The timing of this acquisition is reflective of those conversations and the belief that through Gramercy’s know-how and The Martin Group’s size and strength, we can really create a potent alignment and extremely attractive industry offering.”
The acquisition extends The Martin Group’s focus on the Capital Region and builds its standing as a best-in-class, full-service communications agency. The transaction also creates a valuable opportunity for The Martin Group to offer expanded public affairs services and capabilities to its many existing clients, including the execution of integrated advocacy campaigns, policy research and positioning, and the building of support through organizational coalitions. For accounts previously served by Gramercy, The Martin Group—which has 90+ employees in a variety of communications disciplines and a strategic alignment with Hearst Newspapers—will be able to offer a similar client experience along with high-level, in-house solutions for marketing, advertising, and creative needs.
“As I thought long and hard about the evolution of Gramercy, it became apparent to me that in order to ramp-up and grow even more, we needed a like-minded agency partner to help us scale and take things to the next level,” said Nardacci. “The Martin Group was a natural fit to be that partner, as the agency’s leadership and staff already possess a strong understanding and appreciation for the public affairs space. Not only that, but they also share a vision for the continued growth of the public affairs practice, investment in additional staff, and other key resources to keep the momentum going.”
