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HMS Partners and Fahlgren circled each other for years before agreeing on a proposed merger last week, executives said.
“We’ve had a number of conversations,” said Steve Drongowski, chief executive officer of Fahlgren. It was not until last year, however, that talks between the two Columbus, Ohio-based companies got serious, Drongowski and his HMS counterpart, Rick Milenthal, said.
A letter of intent to merge Fahl-gren with HMS’s ad arm, HMS/Hallmark, has been signed, making a deal possible within 90 days.
The combined entity would claim revenue of approximately $40 million.
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