Malone Advertising's purchase of Haselow Marketing Communications is expected to boost its business-to-business portfolio as well as its local profile, the agency said.
Akron, Ohio-based Malone has concentrated on building up its roster of consumer accounts. "In Ohio, that means getting on a plane," agency president Fred Bidwell acknowledged. "Business-to-business is a great way to strengthen our local footprint."
Haselow, a 24-year-old Cleveland agency founded by John Haselow, is a business-to-business specialist, with clients including Tyler Elevator Products, Argo-Tech and Ashland Specialty Chemical.
The company brings billings of about $10 million to Malone, which now claims a combined $60 million.
Haselow, 67, had been looking for a succession plan and the sale to Malone filled the bill. "We fit some holes that were there," he said.
Terms of the all-cash deal were not disclosed.
Haselow has a three-year contract with Malone and will serve as president of Malone2, an "integrated resource" for the agency's b-to-b clients.
Malone acquired Zeris Interactive in July 2000. That move should be complemented nicely by the Haselow purchase, Malone said.