MBO exits public relations specialist LLYC

MBO, at the time known as MBO Partenaires, invested €6.35m in LLYC in exchange for a minority stake in June 2015. The company's founder, José Antonio Llorente, retained a 51% holding, while other partners in the business acquired a minority stake.

MBO typically invests equity tickets in the €10-40m range to acquire minority and majority stakes in companies with enterprise values of €20-100m.

Under MBO's ownership, LLYC pursued an intensive growth strategy, combining organic development with strategic acquisitions, and consolidating its market position across Spain, Portugal and Latin America.

Among the add-ons inked by the company were the acquisitions of Impossible Tellers (Spain, 2015); S/A Comunicaçao (Brazil, 2015); EDF (US, 2015); Arenalia (Spain, 2018); Diplolicy (Spain, 2020); and Factor C (Chile, 2020).

The firm's revenues increased with an average growth rate of 18% per year, more than doubling from €20.7m in 2014 to €44.3m in 2020. In addition, LLYC scaled up its team to 600 professionals worldwide.

Company
Founded in 1995, LLYC is a consultancy firm that specialises in communications, public relations and reputation management services.

Headquartered in Madrid, the business operates a network of 13 agencies across 11 countries in Iberia and Latin America.

People
MBO & Co – Richard Broche (partner).
Llorente & Cuenca – Jose Antonio Llorente (founder, chair).

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