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Baldwin & Stone last week joined the growing list of New England agencies with new ownership selling to Multi-media Holdings, which says it intends to operate the shop under its current name and management.
With 1999 revenue of $3 million and 28 employees, Baldwin & Stone fits MHI’s model of acquiring “really small but award-winning, best-of-class agencies,” said Geoff Littlehale, an official of Washington, D.C.-based MHI.
While terms of the deal were not disclosed, acquisitions of similar size have typically fallen in the $5 million range.
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