ABG Corporate Finance has provided sell-side advice to the shareholders of Prodject LLC on its sale to The Independents. Financial terms of the transaction have not been disclosed.
Headquartered in New York, Prodject is a creative agency specialising in brand strategy, design and execution for events and content in fashion, art and culture. Founded in 2012 by Keith Baptista, Jihye Song and Tobias Armstrong, Prodject’s prestigious portfolio includes producing major events such as the Met Gala charity event as well as staging exhibits and occasions for luxury brands including Cartier, Chanel, Ralph Lauren and Gucci.
The Independents is a global marketing and communications group for leading fashion, luxury and lifestyle clients. Led by CEO Isabelle Chouvet and with support from its private equity investor Cathay Capital, the France-headquartered group is continuing to diversify and expand its growing collection of agencies through acquisition. The addition of Prodject will enhance the Group’s presence and capabilities in North America, building on The Independent’s existing footprint in Europe and Asia.
The founders of Prodject will continue to run the agency and will join the board of directors of The Independents.
Keith Baptista, Founding Partner and Managing Director of Prodject commented: “Kristian and his team at ABG Corporate Finance provided us invaluable guidance and support throughout the preliminary engagement, due diligence and closing of our transaction with The Independents. We viewed them as partners and are very happy with the results of the acquisition that they negotiated on our behalf.”
Kristian Gavan, who led the ABG Corporate Finance team, said: “It was a pleasure to help the Prodject team as they take this world-leading business on the next stage of its journey. This combination is about striking the balance between autonomy and synergy, which we invested time understanding and then negotiating the right solutions for both sides. It is another example of our very thoughtful approach to cross-border M&A.”