The Beals are now finalizing the purchase of the three-office consultancy from president and owner Bob Lundin. Mr. Beals would not comment on revenues or the price paid for the privately held group, which has acted as consultant on high-profile reviews including the $110 million U.S. Army search; Compaq Computer Corp.'s $100 million-plus global agency search; Kellogg Co.'s review for a third roster shop, worth $30 million-plus; Pier One's $60 million review; and a $30 million Amtrak search. Jones Lundin Beals will continue to be headquartered in Chicago, with the younger Mr. Beals as CEO-president.
Mr. Lundin -- a 20-year company veteran -- will remain as a non-equity principal. His new title has not yet been established. Stan Beals will be managing director.
The 27-year-old company now devotes most of its time to compensation and agency searches, but intends to increase its emphasis on agency evaluation -- what the senior Mr. Beals defines as helping to mend troubled agency/client relationships as well as helping to measure agency contributions for performance incentives.
"I think there is an opportunity to do even more work in the evaluation area of relationships to help clients avoid the trauma and cost of changing agencies," he said. "It's often easier and less costly to fix a troubled relationship than to start over."
The elder Mr. Beals, 68, has been at Jones-Lundin since 1987 after having worked for General Mills and DDB Worldwide's predecessor agency Needham, Harper & Steers, as well Bozell and the former D'Arcy MacManus Masius.
His son, 46, joined Jones-Lundin a year ago from DDB Worldwide, Chicago, where he had spent 20 years, most recently as the senior VP-group account director on Busch Entertainment and McDonald's Corp.
Jones-Lundin has offices in New York and Rancho Santa Margarita, Calif., and affiliations with consultants outside London, and in San Paolo and Melbourne. Six associates work with the consultancy.