Smart buys Gold Coast agency

By AdNews | 31 October 2008
Independent shop Smart has bought Queensland agency Logan Meo Walters, which will merge with Smart’s existing northern agency, Smart Sands. The 14-strong staff at Logan Meo Walters has clients including Macquarie Group and Colliers International. The merged entity will be called Smart Sands Walters and boast a headcount of 25. Logan Meo Walters was owned by Clemenger before being bought back by partner Paul Walters. It offers advertising, design, digital and brand strategy services in Brisbane and the Gold Coast. Partner Paul Walters will join the newly merged entity in a full-time contract as chairman alongside managing director Joe Sands, while creative director Shane Cresser will work alongside Andy Harrison. The agency is the latest in a line of three acquisitions in the last 18 months for Smart, which bought Turner Sands last year in addition to Kindred in Sydney. “We have now refined a mergers and acquisitions model that is proving very successful for both our business and clients, and partners in the businesses we are acquiring, allowing partners to realise their equity value, while still working on an independent offering,” Smart chief executive Ben Lilley said. The agency has no plans to move into other states beyond its current three states, but will look to bump staff numbers. “Our goal is to reach 35 to 40 staff in each state,” Lilley said.

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