LLYC announces its intention to be listed on BME Growth

23 June 2021

LLYC today announced its intention to launch an initial public offering of new shares aimed at both institutional and retail investors. It has also applied for all its shares to be listed on BME Growth, following corresponding approval at the group’s General Shareholders’ Meeting at the start of June.

Through the offering, LLYC hopes to raise a maximum of €10m, which will be allocated to boost its growth strategy and con firm the company as a benchmark at international level in its sector. The new business plan seeks to double the size of the group over the next five years and establishes four driving policies to achieve this goal: integrate exponential technologies in its portfolio of services, undertake acquisitions of value to continue incorporating capacities that contribute to consolidate the position that differentiates the group, establish strategic alliances to break into new geographical markets and drive organic growth above market averages, acting as a platform for expansion and cash generation.

LLYC has succeeded in developing a profile that has differentiated it over recent years by combining its scope as a comprehensive communication consultancy provider with expertise in creativity, marketing and technology with a high degree of proximity to its clients through local teams in each of the markets where it operates.

Founded in 1995, LLYC is a global firm that helps its clients to take strategic decisions in a disruptive and uncertain environment, while taking into account the impact on their reputation. It has more than 600 professionals spread out over 16 offices and organized into 18 specialized departments.

José Antonio Llorente, Founding Partner and Chairman of LLYC, highlights: “The offering we announce today will propel the LLYC project further in the direction we have sought to take in recent years, consolidating our position as one of the main communication, public affairs and marketing consultancy firms on the international stage. Today, we are once again demonstrating LLYC’s pioneering nature and its capacity for anticipation. The communication sector presents an excellent outlook for growth, particularly in segments related to the opportunities offered by exponential technologies – a field in which LLYC is very well positioned thanks to our in-house talent and know-how and to the ecosystem we have developed through alliances and partnership agreements. LLYC represents an opportunity for investors interested in forming part of a sector of the future which has shown its importance in recent years in a society in which all participants need to relate to their operating environment in a more balanced fashion.”

LLYC strengths

A leading global firm. Founded in 1995 by José Antonio Llorente, LLYC is a leading global communication consultancy firm in Europe and Latin America. It has a presence in 13 countries through 16 of its own offices which offer a broad geographical scope, while also enabling the firm to position itself as a local expert in each market. Through its strategic alliances LLYC broadens this reach. It has partnership agreements with local firms in several countries in Latin America, enhancing its leadership in the region, and is a member of the Finsbury Glover Hering (FGH) global consultancy, through which it has access to clients in the main European markets, the United States, the Middle East and Asia. Both PRWeek and PRovoke – the two main sector publications – place LLYC among the leading communication consultancy firms in the world. In addition, the firm has just been voted the Best Communication Consultancy Firm in Europe 2021 at the PRWeek Global Awards and as Southern Europe Communication Consultancy Firm of the Year at the EMEA Agencies of the Year Awards by PRovoke in 2021.

Positioning as a full-service provider. LLYC offers a complete range of communication, public affairs and marketing consultancy services which, in recent years, it has complemented with new digital and innovation services. This value offer has enabled it to position itself as a comprehensive provider with a high capacity for cross-selling between geographical areas and business lines. Its broad range of services helps leading companies respond to the challenges of a disruptive and uncertain environment, thus positioning it as a benchmark provider for major national and international companies.

Proven capacity for anticipation. LLYC has anticipated the market in adapting its range of services, with a heightened focus on applied technology to respond to the challenges of the environment. In doing so, it has enhanced its differentiation with regard to traditional public relations services. This positioning also enables it to take part in projects with a greater technological component and correspondingly higher value for its clients. To that end, LLYC has an expert team that for some time now has been applying its Deep Digital Business strategy, which gathers together Digital, Exponential Technologies and Data & Analytics services.

A diversified portfolio. With more than 700 clients, LLYC has a diversified portfolio in which the top 20 only accounted for 18% of the group’s revenue in 2020. The portfolio has a high degree of recurrence and loyalty, with clients that have been using its services for more than 15 years.

High rates of growth. LLYC has posted growth rates above 15% over the last 20 years. Since 2014, it has doubled its revenue from 20.7 million euros to 44.7 million in 2020, and its goal is to reach 100 million euros by 2024, combining organic and inorganic growth to that end.

Extensive experience in integrating companies. LLYC has begun an ambitious inorganic growth plan, with the acquisition of consultancy firm APACHE back in May, and expects to develop new operations over the coming months with the aim of breaking into new geographical markets and incorporating new services and technologies. The firm has extensive experience in acquiring companies and integrating teams. Since 2015, it has completed the integration of Impossible Tellers (Spain, 2015), S/A Comunicação (Brazil, 2015), EDF (USA, 2015), Arenalia (Spain, 2018), Diplolicy (Spain, 2018), Factor C (Chile, 2020) and APACHE (Spain, 2021).

Respected management team. The LLYC management team has extensive experience in the sector and in management positions, and is one of the top communication consultancy management teams in Spain, Portugal and America.

The sound foundations of the firm are also supported by a positive outlook for the communication consultancy market. This is a large market enjoying growth at a global level, particularly in such segments as applied technologies, marketing and digital content.

Managing communication is an essential activity nowadays, with growing importance due to the relations that companies and their executives, governments, politicians, investors and lobbyists must maintain with their business environment

The sector posted revenue of 88 billion dollars globally in 2020, and is expected to grow at a rate of 8% per annum until 2025, exceeding 129 billion dollars.

Details of the offering

The two-tranche offering will be aimed at both qualified institutional investors and retail investors, comprising an initial public offering of shares by the firm.

The funds raised, up to a maximum of 10 million euros, will be allocated to finance part of the growth plan through which LLYC seeks to double its size over the next five years while consolidating its position as an international sector benchmark.

Renta 4 Banco, S.A. is acting as underwriters and agent bank, as well as liquidity provider, while law firm Pérez Llorca is heading up legal advice on the operation.

Once all the regulatory formalities are completed, LLYC will provide more detail on the Offering in the Information Document for Market Listing that BME Growth will publish on its website (www.bmegrowth.es), and which will also be available on the firm’s website (www.llorenteycuenca.com).



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