‘I’d tell myself to be patient’: Post-merger agency leaders’ notes to past selves

As the industry waits for final details of which agency brands will make it through the process, early indications of further belt-tightening came this week as IPG posted its Q3 financials: revenue drops; 800 jobs cut in Q3 (and 3,200 in the year so far); 135,000 square feet of office space vacated; a restructuring project expected to cost between $450m and $475m.

For the combined well over 100,000 workers at those two holding companies, there’s a lot of change on the horizon. And they’re not alone. With rival WPP also struggling, it has also signalled an intention to consolidate its agency offering (after already undertaking a major restructure of its media business this year).

And it’s not just holding-companies: Forrester predicts private equity’s acquisition drive will expand next year into creative agencies and beyond, looking to “sunset” at least 10 big names next year as it bundles up new, consolidated offerings for the market.

So: getting through a merger or acquisition right will be on the minds of a lot of agency leaders right now. Let’s hear from those who have done it recently what they wish they’d known before the post-acquisition process began.

Katy Hornaday, CEO, BarkleyOKRP: “I wish I’d realized sooner that a merger isn’t about blending, it’s about inventing. Early on, we spent a lot of energy trying to honor legacy rituals, processes, and traditions from all sides, thinking that was the respectful and ‘right’ thing to do. But what it really did was slow down the creation of something new. The real unlock came when we stopped trying to fit old pieces together and instead started asking: What do we want to build now, together, from scratch? That’s where the energy shifted, from preservation to possibility. My advice: let go of nostalgia early. You can still respect where you came from, but your focus should be on defining what you’ll become. That’s the work that actually unites people.”

Melissa Bouma, chief growth officer, Manifest: “After multiple experiences on the buyer, seller, and integration sides, the most important lesson I’ve learned is to value each other’s differences. It’s natural to compare to align teams and processes post transaction. But sameness alone doesn’t unlock new enterprise value; diversity of experience does. Rather than trying to make every process uniform, approaching integration with openness and a willingness to learn from each entity can open the door to bigger opportunities. Integrators that listen before they speak won’t just merge capabilities, they’ll multiply them. And that’s where collective growth can happen: in the spaces between perspectives, where shared ambitions and distinct experience collide.”

Celia Hodgson, founder, Tiny Studios: “I’m only seven weeks into acquisition, so integration is still in full swing, but we’ve been discussing how it would work for months now. I’ve tried to prioritize listening and learning about the group I’ve joined and other agencies within it, as well as with the teams within them. It’s easy with the excitement to want to share thoughts and ideas, but I think there’s a real strength in observing. Also: trust the process when business-related things (that you probably didn't enjoy doing anyway) are taken off your plate. It doesn’t make you a less valid business owner. I’ve been lucky that my buyers trust and rate how we built and run the company, including our brand and general outlook. Retaining this, if you can, is great for a smooth integration for the team, so that while the date they are paid might change, the energy and approach of the company doesn’t.”

Tim Ringel, founder, Meet The People: “As founder and acquirer, I’ve sat on both sides of M&A in the agency landscape for three decades. The emotions of a founder one week pre and one week post-acquisition never wear off, no matter how often you go through them: pure excitement, a moment of total fulfilment, and a bit of ‘I have finally proven that all these nights, travel and time away from loved ones was worth it’. Post-transaction priorities are simple: it’s about your people and your clients. Employees, friends, staff and contributors feel anxious. Their ultimate question, standing in the way of embracing the future for the agency: ‘Will I lose my job and my friends?’ It’s of the utmost importance to full-heartedly, honestly, proactively answer that question with a ‘NO’. Once that fear is out of the way, everyone will enjoy the ride.”

Ian Millner, chair, Iris: “The real value in any acquisition lies in integration, not the deal itself. Focus on connecting the dots, using each other’s reach, skills and clients in a way that benefits both sides. Take time to learn the language, understand the culture and work out how decisions really get made. Be present, positive and action oriented, but also clear about what you want from the relationship. Build your profile in the larger organisation and don’t be discouraged by a bit of dissent or parochialism. Keep your team close and make sure those who want to stick around for the earn-out are looked after properly. In the end, success depends on people and relationships; get all of that right and the rest will follow.”

Jason Harris, founder, Mekanism: “The biggest surprise after selling wasn’t suddenly having a boss again or the check-ins on numbers – it was how the transition impacts your employees. There’s short-term pain when you’re integrating systems and adding services, and your team will feel it. My advice: be brutally honest with yourself about whether you’re ready to manage up and guide your people through significant cultural change, because that’s exactly what it will take to make the sale successful.”

Joe Benn, director, MNC: “The integration of teams and ways of working in the first few months is a really challenging thing. In a moment where you want to hit the gas and execute on all the things you’ve been planning whilst the acquisition process has been taking place, suddenly you realize you’ve got to take a step backwards and get the newly merged companies aligned and functioning together before you can take those all-important forward steps. This might sound obvious, but it can be a real drain on momentum in a moment which you want to feel like huge progress. And it’s a very difficult thing to avoid, as you can only do so much pre-planning and alignment work before the deal is completed in case the process falls apart. With the benefit of hindsight we would have all prepped ourselves more for the inevitable challenge of combining the two businesses and approached it with a little more patience and understanding.”

Alex Bodini, CEO, Spin Group: “If I could go back, I wish I could tell myself to be genuinely patient. I found the first 2-3 months to be a constant existential crisis. Are people getting along? Are the cultures aligned? Are the founders and senior people getting what they want out of it on both sides? The truth is, we’d agreed on what we were going to do in advance. We had a cadence for communications, introductions and ‘synergies’; it was well thought through and ‘about right’ in a world where there’s no right answer. You can’t change your culture for the joining group, nor should you, so do what you said you were going to do and let nature take its course.”

Max Maharajh, founder, Be A Bear: “If I was going to be acquired again, I would have blocked out at least 6 weeks post-acquisition to ‘not’ do my job. I tried to keep on top of new business, team management, and every other thing of being an owner/operator of my agency, but I would have benefitted from leaning into the operational team at the Spin Group more, sooner. Nine months later and this is plain sailing. I don't get stressed out by the bank account or VAT return anymore, but early on I thought relinquishing control of that was me ‘not doing my job’.”

Barney Worfolk-Smith, chief growth officer, Daivid: “Staff communication is an absolute priority. Change is scary, especially now. It’s a cliche, but it’s true that agency owners are normally poor at communicating sympathetically/motivationally to staff (especially when they’ve pocketed a wedge of cash). Secondly, integration can be difficult, but as the acquired agency, you have more control of your destiny if you’re retaining and winning business. Don’t be reliant on business coming from the mothership. It’s easy but deleterious to company stability in the long term.”

Will Glynn-Jones, founder, Send Me a Sample: “The first few weeks post-completion are a mix of excitement at the future and exhaustion of what went before – founders can’t underestimate the scale of effort required to get to a successful acquisition. It’s months of distraction, uncertainty and anxiety. Once you get over the line it’s a chance to draw breath and build for the future. The best advice I can give is: be realistic with what you can achieve in the short term. You’ll be exposed to a thousand new apparent opportunities, through meeting new contacts, being put forward to potential new clients and explaining your proposition as the new kids in school. You’ll be kissing more frogs than ever. To be acquired, you would have needed to have a plan: stick to this plan and try not to get distracted. Be team players, of course, but focus on the plan (while knowing you’ll be pulled in all directions in year 1).”