Winner: APCO Worldwide
When APCO Worldwide finalized its management-led buyout in 2004, the agency approached a crossroads. Previously owned by Grey Global Group, the agency was leaving the confines of a marketing holding company for the unknown terrain of independency. At the time, APCO CEO Margery Kraus said, "I really wanted this to be a legacy. Now, we are definitely in control of our own destiny."
APCO, initially founded as a subsidiary of law firm Arnold & Porter in 1984, had been a Grey property since 1991. Back then, APCO had 25 employees and revenue of $3 million. Today, APCO has 400 employees and will report estimated revenues of $71.5 million in 2005.
APCO truly took hold of its destiny, offering employees the opportunity to increase their ownership opportunities, and winning accounts in the pharmaceutical, food and beverage, local government, and hotel industries.
The company opened an Israeli office in Tel Aviv, but its North American region remains its strongest suit. APCO reported growth of 23.5% and projected revenues of $42.4 million in North America, growth fueled by new offices in New York and Chicago.
Its online tactics were also successful, launching RussiaInFocus.com, a website that provided client MENATEP the opportunity to deliver near real-time news and events from the trial of its former core shareholder, Mikhail Khodorkovsky, to a global audience. The website fed information to a paid placement on The New York Times' international homepage. The program generated more than 6 million impressions and 5 million unique site visits during the eight-week campaign period.
Other campaign highlights include the firm's work with PhRMA, the politically influential trade association for the US drug industry, and its Partnership for Prescription Assistance program.
One judge said of APCO, "Performance seems to have zoomed since the MBO. They're doing high-quality work." Another put it this way: "APCO really does it all – rapid growth, industry leadership, and a solid commitment to clients."
The company also attracted prime talent, hiring Ambassador Elizabeth Jones, former US Department of State assistant secretary for Europe and Eurasia, as EVP; Darren Murphy, former special adviser to the UK Prime Minister, as a director in its London office; and Cassandra Pye, former deputy chief of staff for Gov. Arnold Schwarzenegger (R-CA), as SVP.
The company also placed its employees' well-being high on the priority list, inviting health experts to address the team and providing free on-site fitness facilities.
Honorable Mention: Financial Dynamics
Financial Dynamics also had a management-led buyout in its recent past, and the company has only improved since that event in 2003. Not content to settle for organic growth, FD pursued an aggressive acquisition strategy, purchasing Westhill Partners, opening a business consulting practice in the process; and UK-based LLM, a public affairs consultancy. The company hung its hat on the Westhill acquisition in 2005, as the new business consulting capability rounded out its offerings of IR, public affairs, and corporate communications. FD also increased revenue by 25%, won 50 new clients, and ended up with offices in 18 major cities. New hires included Ed Reilly, managing director of business consulting, and former Hill & Knowlton corporate practice president Harlan Teller as director of US reputation management.
Finalists:
Alan Taylor Communications
APCO Worldwide
Financial Dynamics
MWW Group
Zeno Group
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