Gyro merges with HSR and eyes further expansion
Gyro International has merged with US-based agency HSR and now has its eyes on further global expansion into Brazil, Russia, India and China.
The new entity, GyroHSR, has 17 offices in nine countries across Europe, North America and the Middle East.
The new agency has combined revenues totalling about $100m (£68.6m) and employs more than 600 staff.
The idea of merging the two agencies, which are both backed by US private equity house Pegasus Capital Advisors, has been mooted for some time according to Gyro International chief executive Richard Glasson (pictured left). “The normal bedding-in period that large deals like this require is less relevant to us because our clients and geographical areas complement one another perfectly. There are no cost savings being made or people being lost. This deal is all about growth.”
The new agency’s offering includes advertising, brand strategy, digital, public relations, media and relationship marketing.
GyroHSR will be run out of London with Gyro International’s Glasson and chief operating officer Richard Perry both retaining their roles within the larger agency.
HSR co-founder Rick Segal (pictured right) becomes chief executive North America and GyroHSR’s global practice leader for business-to-business marketing.
The new management team says it recognises and embraces “the changes that we are seeing in the world of marketing and communications” and says this is its response. But the changes will continue as GyroHSR seeks to make inroads into the BRIC countries from next year. To that end it is already in talks with medium-sized agencies about possible acquisitions in 2010.
“This merger creates an agency that is positioned to meet the needs of our clients around the world, and able to deliver the truly integrated service that the modern world demands.”
GyroHSR’s clients include American Express, Audi, Hewlett-Packard, Shell, Sony, T-Mobile and Virgin Atlantic.