Brodeur Buys Back Majority Stake From Omnicom
Andrea Coville and John Brodeur, principals of Boston-based Brodeur Partners, have bought back a majority stake in the public-relations agency from parent Omnicom Group. Omnicom, which acquired the shop in 1993, will retain an equity stake in the company.
Brodeur isn't the only PR agency to go private in 2011. New Jersey-based MWW Group in January completed a management-led buyout from former parent Interpublic Group of Cos., which bought MWW 10 years prior.
"The return to entrepreneurial roots with Omnicom's support and equity is the best of both worlds for us," Ms. Coville said in a statement. "While we invest in new talent and strategies to drive growth and client innovation, we have Omnicom's involvement and endorsement as we go forward."
Brodeur is the 150th largest shop and the 16th largest public-relations agency in the U.S., with about $44 million in 2009 U.S. revenue, according to Ad Age's DataCenter.