Diana Marszalek 06 Feb 2018 // 3:43AM GMT
COLUMBUS, OHIO — Fahlgren Mortine, the Ohio-based integrated marketing firm, has been acquired by Eastport Holdings in a deal that aims to drive the agency’s further growth.
"We have been planning for some time to accelerate our growth amid changing market dynamics and evolving client expectations,” said CEO Neil Mortine. “This transaction provides the investment needed to take advantage of our potential, and I am energized by what it means for our employees and clients.”
In announcing the sale, Fahlgren Mortine said much of the agency’s current structure will stay in place — as will its name. The firm reported more than $24m in fee income in 2016, up 19% on the year before, according to the Global PR Agency Rankings.
Mortine will continue to run the firm as its chief executive. Chris Turner will keep her job as president of the firm’s subsidiary company, called Turner. Additionally, management at both companies will remain as is, the firm said.
With the acquisition, Eastport Holdings now owns 17 marketing and advertising companies in the US. The company is based in Memphis, Tennessee and backed by private equity.