North America
M&A Update
Looking Back.
Key Trends
Add-Ons Are Driving PE Activity.
Private equity has shifted its focus from acquiring platforms to building them with strategic add-ons that support the growth of existing platforms.
75%
60%
2021
2024
Total Private Equity Deals - % Add-Ons
Divestitures.
Expect further strategic re-alignment within Holdco portfolios as efforts are directed re-balancing in-order to direct focus towards core assets.
Other Trends
End-to-End
Full-service agencies re-shored creative in 2024 with 46% of acquisitions in
the Brand & Creative offering
Serial Acquirers
20% of acquisition targets
have proprietary technology across the prior 4 years
Bite Sized
60% of all US acquisitions in 2024 were for companies that employee fewer than <99 staff.
A Deeper Dive
Dynamic Dashboard
Hold Ctrl/Cmd to select multiple categories
CHANGE PAGE
Unlocked Dashboard Available Upon Request
PHARUS
Select Transaction History
Looking Ahead.
Trends & Themes
Starting with the obvious - AI.
Increased automation, black-box platforms, and proprietary technology have driven efficiencies and leveled the playing field.
​
A shift in the working dollar ratio and further agency consolidation.
Creative can drive performance?
Collective amnesia has worn off and marketers are re-balancing brand/demand spend with agencies further developing full-service offerings with integrated capabilities.
Influencer/Creator/Celebrity/Athlete/CEO
Marketing.
As brand dollars unlock, influencer marketing is expanding beyond its lifestyle core, attracting bigger names across a range of channels and backgrounds.
​
At 2.5% of US ad spend, the green field opportunity remains wide (especially with Unilever shifting 50% of total ad spend to influence).
Watch & Shop.
CTV & Retail Media continue to converge through evolving partnerships (Instacart + NBC Universal) and increasingy verticalized players (Prime Video + Amazon / Walmart + Vizio).
Searching for the future of Search.
Perplexity. Google AI Overviews. Chat GPT.
​
Change has arrived - the answers have not.
Stay In Touch.
PHARUS Advisors
Shaping the future of digital services, marketing, and technology
​
​
​
525 25th Floor,
New York, NY 10017
​
12-14 Christophers Place,
London, UK W1U 1NB
​Contact: