MGS will bill itself as a national marketing communications firm offering advertising, broadcast production, and public relations. The new entity claims combined billings for 2004 of over $45 million.
The newly formed MGS will be under the leadership of partners MGSP founders Manuel Machado, who will serve as co-chairman and CEO, and Al Garcia-Serra, as co-chairman and chief operating officer. Financial details of the transaction were not disclosed.
In addition to its base in Coral Gables, the company plans to open regional offices in New York, Chicago, and Los Angeles. The New York office is projected for the end of the first quarter 2005. The company's client roster includes Southeast Toyota Distributors, Scion, Jim Beam Brands, Tiffany & Co., BellSouth Advertising and Publishing, Hyundai Motor America, and Nortel Networks.