MWW Group Completes Management Led Buy-Out From Interpublic Group
CEO and Founder Michael W. Kempner Leads Management Team to Return MWW Group to Status as Top Five Independent Firm
Kempner Cites PR-Led Digital Revolution and Dynamic Industry Evolution as the “Perfect Time for Independence and Innovation”
EAST RUTHERFORD, N.J. – January 5, 2011 – MWW Group (www.mww.com), one of the nation’s top public relations firms for nearly 25 years, announced today that the agency has completed a management led buy-out from the Interpublic Group of Companies (NYSE: IPG). Led by Founder and CEO Michael W. Kempner, the buy-out occurs ten years following the original sale of MWW to IPG and returns the firm to its status as one of the nation’s five largest independent public relations agencies. The buy-out also includes the purchase of MWW’s Financial Relations Board, a national leader in investor relations and financial communications for more than 45 years.
MWW is one of the nation’s top full service agencies and one of the largest mid-sized firms with industry-leading practice areas in corporate communications, consumer marketing, public affairs and government relations, and deep expertise in digital and social media, sustainability, social innovation, healthcare and technology. The buy-out enables the firm to capitalize on the growth opportunities presented by the dynamic changes in the public relations industry by providing a nimble, entrepreneurial management framework that enables investment in key growth areas including digital and social media – an area where MWW has been a leader since becoming one of the first public relations agencies to establish a formal digital media practice in January of 2005.
The firm will also return to its roots as strategic communications management consultants, offering superior service and senior level counsel that combines the expertise and strategy of the largest agencies with the personal touch and client service ethos that has been a hallmark of the firm. MWW’s strategic philosophy centers around cross-platform thinking and a total stakeholder approach – advising clients of the best programs and strategies to grow their business, regardless of media channel or platform.
“This is a time of unrivaled opportunity for MWW Group and for the public relations industry as a whole. The media and business landscape is continuing to rapidly change and PR is at the forefront of the revolution, helping brands and companies maintain relevance and build a level of trust that can no longer be earned just through traditional marketing and advertising,” said Kempner. “MWW is perfectly suited to capitalize on this opportunity and now is the time to return to our nimble, forward-thinking, client-centric and innovative roots. With the support of my management team, we’ve decided to regain our independence by purchasing back MWW and unleashing the talent, creativity and spirit of this great organization.”
Added Kempner, “MWW grew to become one of the nation’s top firms by providing our clients with unparalleled strategic thinking and client service including an ‘Aim High. Deliver’ mentality that sets the highest expectations for our own performance. In addition to refocusing on these roots, we will continue to offer a cross-platform, total stakeholder approach that enables our clients to benefit from MWW’s full suite of services and provide them with the best strategies to meet their critical business objectives, build trust among stakeholders and position themselves for success in this rapidly changing business environment.”
Kempner also added, “I would be remiss if I did not take a moment to personally thank IPG Constituent Management Group (CMG) CEO, Harris Diamond and CMG COO, Ed Powers for their friendship and partnership over these past ten years. Harris and Ed are true leaders of our industry and I am grateful for the opportunity to have worked with them.”
The buy-out announcement follows an award-winning year that has seen MWW garner some of the industry’s most prestigious honors including Strategic Firm of the Year from The Holmes Report, and Digital Firm of the Year and PR Professional of the Year (Kempner) from PR News. MWW was again recognized by PR News on its list of the Top Places to Work in PR.
The majority of the executives joining Kempner in the management led buy-out were employees of the firm during the original sale of the company to IPG as well as during the agency’s early growth years.
About MWW Group
MWW Group is one of the nation’s five largest independent public relations firms and is known for its results-driven approach to public relations and “Aim High. Deliver” commitment to client service. MWW Group is a different kind of agency. Passionate, driven, highly experienced professionals with an entrepreneurial attitude, strategic thinking and flawless execution. At MWW Group, we’re game changers, provoking new ways of thinking for ourselves and our clients. This attitude and ability results in category re-defining campaigns and the delivery of outstanding results for our clients, exceeding their expectations and business goals. In 2010, MWW Group was named Strategic PR Agency of the Year by The Holmes Report, Digital Firm of the Year and Team of the Year by PR News and has consistently been named one of the Top Places to Work in PR by PR News. For more information visit www.mww.com and follow MWW Group on Facebook, Twitter and LinkedIn.
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