NEW YORK Philip Palazzo Jr., a longtime Ammirati Puris Lintas exec, is launching Palazzo, a financial advisory and acquisitions firm for the marketing communications industry.
More recently, Palazzo spent five years as a partner and managing director of AdMedia Partners, a New York-based M&A and advisory firm, a position he left in February. He spent 18 years at Interpublic's APL, where he became president, international operations, and its predecessor shop Ammirati & Puris. After APL, which was merged into IPG's Lowe & Partners in 1999, Palazzo became CEO of MC2, a corporate events and exhibits company.
Palazzo, president, said he is focused on finding value for owners of marketing service companies wherever they are in the business cycle, whether new to the marketplace or preparing for sale. He said he expects to close three deals in the next couple of months, the details of which are undisclosed.
"I set the firm up because a lot of investment banks in the space are focused just on transactions," Palazzo said. "Launching in this environment has been a good thing: How do we help clients create value? It may be a sale or it may be advisory work."
Palazzo has created an advisory board of former APL colleagues and a client. They are: Michael Lotito, founder, CEO of media analysis and benchmarking firm Media IQ; Martin Puris, CEO of puris.bernbach.partners; Barry Wacksman, chief growth officer, R/GA; Vivian Young, partner at marketing strategy firm Prospero; and Jackie Herr, founder, CEO, healthcare agency Ignite Health.