Marketing & Advertising M&A
Cornerstone advises owners of marketing, advertising, events and experiential marketing companies on selling their business, including agencies, event producers, exhibit builders and marketing services firms. Each of our sell-side engagements averages 8 to 10 indications of interest (offers).
A Real Market Analysis (RMA) shows what your agency or event company is likely worth to buyers today, based on your recast EBITDA, your margins and your client mix. It is completely confidential, between you and Cornerstone.
Buyers are competing for marketing and event companies
Holding companies and agencies
Omnicom bought Interpublic Group. FINN Partners bought C. Blohm & Associates, a Monona, Wisconsin marketing and public relations agency that Cornerstone represented.
Experiential and events
Platinum Equity bought Czarnowski Collective, a Chicago experiential company that builds trade show exhibits and events. Jack Morton merged with Impact XM, which is backed by Riverside.
Promotional products
HALO, a promotional products company, bought Leslie Jordan Inc. of Portland, Oregon and T & P Incentives of St. Louis.
Why marketing and event companies work with Cornerstone
A founder with a marketing background
Scott Bushkie founded Cornerstone and advised C. Blohm & Associates, Leonard & Finco and Insight Publications on their sales. His background includes marketing and finance, and he has been quoted by the New York Times, the Chicago Tribune and the Associated Press.
An advisor from agencies, events and brand marketing
Dan Hansher worked on GMR Marketing’s experiential technology team. He led marketing teams and trade show programs at Ellsworth Adhesives, Regal Rexnord and JW Winco, with exhibits from 10×10 booths to 100×100 islands.
A valuation built around your clients
Our Real Market Analysis recasts your EBITDA, compares your margins with agency benchmarks, and shows how much of your revenue depends on your top clients. We have valued event production and trade show exhibit companies.
Recognized by buyers and peers
Axial ranked Cornerstone No. 3 on a recent list of the Top 25 Lower Middle Market Investment Banks. M&A Insider named Cornerstone M&A Advisory Firm of the Year in Wisconsin.
Who we work with
Companies
- Advertising, branding and creative agencies
- Digital marketing, SEO and web development agencies
- Public relations firms
- Event production and experiential marketing agencies
- Trade show exhibit builders and display manufacturers
- Audio-visual, lighting and staging companies
- Promotional products, printing and publishing companies
Owners
- Agency founders thinking about the next chapter
- Partners who disagree on when to sell
- Owners ready to hand off client relationships
- Owners holding an offer from a holding company or agency group
What buyers pay for in a marketing or event company
Retainer revenue
Retainers and multiyear contracts repeat every year, so buyers value them above project work.
Client mix
No single client should carry the business. Buyers look at how long your top clients have stayed.
Net revenue
Revenue after pass-through media and production costs, and the margin on it.
Team
Account leaders and creative staff who stay after the sale, and clients who work with the team, not only the owner.
Specialties
Industry focus, proprietary tools, fabrication shops or event technology that buyers do not have.
Owner transition
A plan to move client relationships and new business from the owner to the team.
Growth with clients
EBITDA margin, and steady growth with existing clients and new ones.
Has a holding company or agency group called?
Holding companies, agency groups and private equity firms call agency owners directly, often with an earnout attached. In one Cornerstone sale, a national outsourced services firm held a $3 million offer from a single buyer. We brought in 20 qualified buyers, and the company sold for $8.25 million, nearly three times that offer. Other recent engagements:
Government software company
$3.25M → $6.4M
+$3.15M added · 7 IOIs received
Equipment rental company
$31.0M → $51.3M
+$20.3M added · 3 IOIs received
Read the full example in Unsolicited Offers vs. the Power of Multiple Offers™
Examples of actual Cornerstone transactions. Past results do not guarantee future results.
Marketing and advertising transactions
Agencies, publishers and display companies sold by Cornerstone.
C. Blohm & Associates, Inc.
Marketing and public relations agency
Monona, WI
has been acquired by
FINN Partners
Advised by Scott Bushkie, Cornerstone Business Services
Leonard & Finco, Inc.
Public relations firm
Green Bay, WI
has been acquired by
Kane Communications Group, LLC
Advised by Scott Bushkie, Cornerstone Business Services
Insight Publications
Regional business publications and events
Appleton, WI
has been acquired by
Woodward Communications, Inc.
Advised by Scott Bushkie, Cornerstone Business Services
TD Fischer Group
Point of purchase displays and trade show exhibits
Wausau, WI
has been acquired by
Wausau Holdings, Inc.
Advised by Cornerstone Business Services
Cornerstone International Alliance partner firms have completed more than 40 marketing, advertising and printing transactions. See all Cornerstone transactions
Your advisors
Scott Bushkie, CBI, M&AMI, CM&AP
Managing Partner, Founder
Scott founded Cornerstone and advised C. Blohm & Associates, Leonard & Finco and Insight Publications on their sales. His background spans entrepreneurship, management, finance and marketing. He wrote Finish Strong: Sell Your Business on Your Terms, produced the National Study on Selling Your Business with a third-party research firm, and speaks to business owners, financial advisors and trade groups across the country. He is a Fellow and past chair of the IBBA, a past chair of the M&A Source and an IBBA Hall of Fame inductee. He launched the Cornerstone International Alliance, now 34 M&A firms and 205 advisors.
sbushkie@cornerstone-business.com · 920-436-9890
Dan Hansher, MBA
Investment Banking Associate & Director of AI and Marketing
Dan is Cornerstone’s Director of AI and Marketing and works on the firm’s sell-side engagements. He has completed more than 200 business valuations, including an event production company and a trade show exhibit builder. He worked on GMR Marketing’s experiential technology team. At Ellsworth Adhesives, he led an 18-person marketing team and the digital experience. At Regal Rexnord, he led marketing for a $650 million division and the marketing integration of 22 brands. His e-commerce rebuild at JW Winco lifted click-through 51% and e-commerce revenue 40%. He has run trade show exhibits from 10×10 booths to 100×100 islands. He holds an MBA in marketing and IT management and a bachelor’s degree in multimedia digital arts and advertising from the University of Wisconsin-Whitewater.
dhansher@cornerstone-business.com · 920-436-9890
Why owners choose Cornerstone
85%
Close rate
5-year average, vs. 53% for other M&A firms and 20% for owners who sell without an advisor*
24 to 26%
Premium above target
average increase above the target price
8 to 10
Offers per deal
average indications of interest
25 years
In the market
advising lower middle market business owners
*M&A Source, Market Pulse Survey Report. Past results do not guarantee future results.
Talk with an advisor
Tell us about your company, and we will reach out to schedule a confidential conversation. You can also call 920-436-9890.
Questions agency and event company owners ask
Answers about selling a marketing agency, advertising firm, event producer or exhibit builder.
How are marketing agencies valued?
Buyers start with recast EBITDA and net revenue after pass-through costs, then look at retainer revenue, client concentration, how long top clients have stayed, and how much of the business depends on the owner. A Real Market Analysis (RMA) shows where your agency stands on each.
Who buys marketing, advertising and event companies?
Advertising holding companies, independent agencies, private equity firms building marketing services platforms, larger agencies adding a specialty, and family offices. Recent buyers include Omnicom, Platinum Equity, Impact XM and HALO.
My clients work with me personally. Can I still sell?
Yes, with a plan. Buyers ask how client relationships will move from the owner to the team. Introducing account leaders to key clients before a sale, and agreeing to a transition period after it, protect the price.
Do buyers pay for project revenue or only retainers?
Both, but they value them differently. Retainers and multiyear contracts usually earn a higher multiple than one-time projects. We show buyers your revenue by client and type, so they can see what repeats.
How are earnouts used in agency sales?
Earnouts are common in agency deals because much of the value sits with clients and people. Part of the price is paid later if revenue or profit targets are met. We negotiate targets you can control and terms that are clear.
Should I set an asking price for my agency?
No. An asking price puts a ceiling on what buyers offer. We bring qualified buyers in at the same time and let them make offers, so the market sets the price.
How do I keep my account leaders through a sale?
Tell them at the right time, with a plan. Buyers often offer retention bonuses or equity to key people, and we negotiate those terms with the deal. Until then, the sale stays confidential.
A holding company made me an offer. What should I do?
Find out what the business is worth before you answer. A single offer gives you nothing to compare it with, so we bring in other qualified buyers and keep the original buyer in the process.
Marketing and events trade shows and organizations
Dan Hansher has attended these trade shows with past employers, and we meet buyers at these M&A events.
Events, production and entertainment
LDI
LDI, Live Design International
LDI, Las Vegas
NAB
National Association of Broadcasters
NAB Show, Las Vegas
IAAPA
IAAPA, the global association for the attractions industry
IAAPA Expo, Orlando
M&A and private equity
ACG
Association for Corporate Growth
ACG Midwest Capital Connection, Chicago
ACG Indiana, Indianapolis
ACG M&A South, Atlanta
ACG DealMAX, Las Vegas
M&A Source
M&A Source conferences, Minneapolis and Phoenix
Midwest Business Brokers and Intermediaries
MBBI Private Equity Connection, Milwaukee
Updated November 2026
