Listen to this articleLorraine Gregory Communications, an Edgewood-based integrated marketing firm, has acquired Axle Eight, a digital agency that is based in Arizona. Terms of the deal were not disclosed.
Effective immediately, the acquisition further expands Lorraine Gregory’s offerings in digital marketing, social media management and data-driven strategies, while broadening marketing services to Axel Eight clients.
“I am thrilled to announce the addition of Axle Eight as a Lorraine Gregory company,” Greg Demetriou, CEO of Lorraine Gregory Communications, said in a news release about the acquisition.
“This expansion allows LGC clients access to premiere online services that enhance our capacity and offerings,” he added. “As LGC continues its efforts on behalf of our clients, we are dedicated to providing exceptional services.”
The acquisition comes at a time of increased mergers and acquisitions in the marketing sector. Firms look to join forces to gain economies of scale, diversify services and find a competitive advantage in terms of access to industries, an expanded geographic reach and more, the Forbes Agency Council reported in May.
“We are excited to join forces with LGC and leverage our combined strengths to deliver exceptional results for our clients,” Kim Grennan, founder and CEO of Axle Eight, said in the news release.
Lorraine Gregory brings more than 30 years of marketing expertise, including in creative, video, print and direct marketing. The company also has a 3,500-square-foot film studio. Axle Eight, founded in 2018, serves a diverse portfolio of clients across various industries. The acquisition provides access to resources, expertise and client relationships to foster growth at Axle Eight.
After COVID, Axle Eight’s employees continued to work remotely, and with the acquisition, they will continue to do so. Axle Eight went on to develop systems and processes that enhanced its efficiency and effectiveness; Lorraine Gregory said it would adopt many of these protocols.
Jay Demetriou, president of Lorraine Gregory Communications, was instrumental in structuring the deal.
“Together, we will continue to push the boundaries of creativity and innovation, delivering impactful marketing solutions that drive growth and success,” he said in the news release.
With the acquisition, Axle Eight will maintain its identity, though it is now known as a Lorraine Gregory company. Lorraine Gregory is taking over all finance and human resource functions, but in addition to integrating processes and workflows, will share resources, and fill any gaps. These measures are designed to help ensure a seamless transition for not only clients but also team members, according to the news release.
