Burrell Communications Group becomes the latest platform investment in FVLCRUM's strategy to grow diverse-owned businesses of scale.
ROCKVILLE, Md., Nov. 21, 2023 /PRNewswire-PRWeb/ -- FVLCRUM Partners, d.b.a. FVLCRUM Funds Capital Group ("FVLCRUM" or "FVLCRUM Funds") together with View Park Capital (VPC), has completed the acquisition of Burrell Communications Group ("Burrell" or the "Company"). FVLCRUM is a lower middle-market buyout firm dedicated to bridging the racial wealth gap in the United States through its defined private equity strategy. Burrell brings media expertise to FVLCRUM's growing portfolio and ecosystem of companies aligning impact and alpha.
Founded in 1971 by Tom Burrell, the Company is a leading, full-service marketing and communications agency known for its long and successful track record of reaching multicultural audiences. Since 2004, co-CEOs Fay Ferguson and McGhee Osse have successfully guided the continued growth of the Company.
"We are truly excited for Burrell's next chapter," states Osse. "It was pivotal to Fay and me to transition the company to a team that would be committed to investing in the agency, growing its capabilities and reach in the years ahead, and maintaining the talent and culture that makes Burrell special."
"Having jointly led Burrell for nearly two decades," added Ferguson, "McGhee and I are pleased that the new ownership shares our standard of values, and commitment to innovation in multicultural marketing."
Tara DeVeaux, the former CMO of Los Angeles-based Wild Card Creative Group and Managing Director of its creative content division, 3AM, has been named the incoming CEO. "I am excited and inspired by the opportunity to take on this role at what is a pivotal time in Burrell's history," says DeVeaux. "I plan to build upon the Company's existing legacy through a concentrated focus on data to deliver fresh insights and renewed creativity across all platforms so we can continue to be a vital partner in growing our clients' businesses."
"We are thrilled to welcome Tara as CEO and sincerely appreciate Fay and McGhee for their stewardship of Burrell during their tenure," adds Chijioke Asomugha, Partner of FVLCRUM. "Burrell is an iconic company that has helped tell the diverse stories of many respected brands for more than 50 years. FVLCRUM is eager to build upon the impactful legacy of Burrell through this significant equity investment."
Channing Johnson, founder and managing partner at VPC, will serve as Chairman of Burrell. Johnson emphasized his vision of positioning "Burrell to become the 'go-to' agency for brands who recognize the importance of speaking authentically to our growing transcultural world, and will become the destination agency for new talent in the business."
Chijioke Asomugha and Marques Martin, Partners at FVLCRUM Funds, led the transaction with Edward Moriarty supporting as Analyst. Vaughan Capital Advisors acted as financial advisor in the transaction. Katten Muchin Rosenman along with Jones Day acted as legal advisors to FVLCRUM and VPC in the transaction.
ABOUT BURRELL COMMUNICATIONS GROUP:
Celebrating more than 50 years of best-in-class transcultural communications, Burrell Communications Group is one of the largest U.S. agencies specializing in diverse audiences. The agency boasts a roster of premier, blue-chip clients including McDonald's, Toyota, Comcast, Fidelity, Deloitte, Coca-Cola, FIFCO, Southern Company, and the American Red Cross. For more information, visit burrell.com.
ABOUT FVLCRUM:
FVLCRUM is a private equity firm that intentionally invests in diverse, lower middle-market companies to generate sustainable opportunities for underserved communities. Since 2013, the team has provided a capital markets approach to addressing the U.S. racial wealth gap. FVLCRUM has been an innovator in aligning impact and alpha with an emphasis on delivering investment returns and sustainable social change. FVLCRUM's first fund qualified for Community Reinvestment Act (CRA) credit. For more information, visit fvlcrum.com.
Media Contact
Rebecca Bendetson, FVLCRUM, 202-960-1170, [email protected], www.fvlcrum.com
SOURCE FVLCRUM
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