Dallas Acquisition Makes It Third-Largest Indie in Southwest
DALLAS–Square One here has acquired The Maxfield Group in Irving, Texas, in an asset-purchase deal to form the third-largest independent agency in the Southwest with $80 million in capitalized billings.
The agencies will consolidate in new headquarters in downtown Dallas, retaining the name of Square One. Steve Maxfield, principal of The Maxfield Group, will become a partner and lead the new business-to-business group at Square One.
The move is generally seen as complementary, with Square One rounding out its consumer-oriented accounts with Maxfield’s business-to-business roster. “With the addition of these guys, we have a total full range of services that any other large agency would have,” said Tom Hansen, managing director and chief executive officer of Square One.
The acquisition will also help boost the profile of four-year-old Square One, which plans to continue its aggressive growth strategy through the pursuit of large accounts.
“We’re looking for credibility” in approaching these accounts, said Hansen. “When you are small, you don’t get invited [to pitch], and we needed critical mass.”
Hansen said Square One will attempt to pull in more national accounts, particularly in the salty snacks, soda, telecommunications, healthcare and airline categories. But “we really want to pursue one piece of business per quarter,” he said. “We don’t want to pitch everything that comes over the transom.”
Square One opened its doors in April 1995 with Whataburger as its flagship account. The agency has since added several Miller Brewing Co. brands and done project work for Sprint, HBO and First USA. Square One also operates a Hispanic marketing group, Uno Communicaciones.
The Maxfield Group has been in business 47 years. Its client roster includes Wilsonart International, Daltile International, American Olean, Elk Roofing and Wolf Gourmet Ranges.
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