After a year-long search, London-based Chime Communications agency VCCP has established a U.S. beachhead with the acquisition of San Francisco-based Mut-Tay-Zik | Hof-fer (MH).
The deal was financed by Providence Equity Partners, the same firm that acquired Chime last July for $585 million (WPP has about a 20% stake). Terms of MH acquisition weren’t disclosed, although MH will retain its current branding.
The two agencies are positioning the deal as a way to create an international creative agency network for challenger brands.
MH clients include financial services firm SoFi, Netflix and Audi. VCCP counts among its clients O2, easyjet, ING Direct and BMW Motorcycles.
Adrian Coleman, Co-Founder and CEO of VCCP said, “This is a joining of like-minded souls across the Atlantic. Together we believe that creativity is still the biggest multiplier for any business, and we want to offer that creativity to ambitious brands all over the world.”
In addition to its London headquarters, VCCP has offices in Madrid, Prague, Sydney and Berlin, and total staff of 850.
Six-year old MH, with about 85 staffers in San Francisco, is currently in the process of expanding to New York.
“This is a beginning,” said MH co-founder Matt Hofherr, who expects the coming together will provide the agencies expanded opportunities to pitch global accounts. Employees will benefit too, he said, noting plans to create a “mini exchange program” where staffers from the now-partner agencies will spend periods of time in each other’s offices.
Hofherr created MH with John Matejczyk (see name of agency for correct pronunciation of both last names) in 2010. Earlier Matejczyk was a creative director at Goodby Silverstein & Partners, BBH, Fallon and TBWA\Chiat\Day. Hofherr has a strategic planning background and also served at TBWA\Chiat\Day and other agencies including BBDO West and Kirshenbaum Bond & Partners.