• by Fern Siegel , December 19, 2022

Private investment firm Cedar Pine has acquired PJA Advertising + Marketing, a Boston-based B2B agency.

Some of the agency’s key accounts: Parexel, Quest, Tableau, and Bluebird Bio are all significant, long-term relationships, as is Middlesex Savings Bank and Bangor Savings Bank. The company also has newer relationships with NETSCOUT, Smartbear and Corporate Visions. 

Financial terms were not disclosed.

“Cedar Pine is looking to build an ecosystem of marketing services agencies, and saw PJA as the platform for future investments. They like that we serve as a core strategic and creative brand partner for many of our clients, and will look to acquire specialized capabilities that complement us,” Michael O’Toole, president of PJA Advertising + Marketing, told Agency Daily.

O’Toole, a PJA veteran since 1997, will remain president of the agency.

“PJA’s specialization in life science, technology, and financial services dovetails with our interests and investment focus,” adds Mitchell Lederer, managing director of the newly formed Cedar Pine Marketing Services.

The 35-year-strong Cambridge firm was founded by Phil Johnson, who remained CEO until the December sale. PJA is one of the oldest independent advertising and marketing agencies in Greater Boston.

PJA’s 30-person staff remains in their current roles.

“PJA clients and the team are grateful for the continuity and excited by the potential,” Johnson said. “All that our clients value today — every team member, our industry expertise, our commitment to great creative, and our culture — stays intact.”

Future growth includes working with Cedar Pine to identify specialized capabilities that complement PJA’s strengths in analytics, deeper account-based marketing and development expertise.