Photo Credit: MediaM for Adobe Stock
Dallas-based events and brand-experience giant Freeman has acquired Philadelphia-based Sparks, combining two large events agencies with a significant roster of corporate clients. Sparks, which will maintain its brand and operational structure, is now known by Sparks, a Freeman Company. As part of the sale, former Sparks owner Eagle Tree Capital has fully exited its investment in the agency. Terms of the sale weren't disclosed.
"This combination reinforces our leadership position in the industry and sets the stage for future success," said Scott Tarte, co-owner and past CEO of Sparks. "By harnessing our collective strengths, Sparks, a Freeman Company, will be well-positioned to continue a legacy of innovation and excellence, crafting meaningful experiences for Fortune 1000 brands.”
Among those brands on the Sparks client list are Google, Salesforce, Anheuser-Busch InBev and T-Mobile. Add that to a diverse roster of Freeman Fortune 1000 clients, including Amazon, Cisco and Kohler. The combined agency will have a strong focus on the corporate market, according to Freeman, to meet the evolving needs of those clients as well as show organizers.
“Our combination with Sparks creates a unique opportunity to accelerate Freeman’s vision to become a leader in the corporate space,” noted Freeman CEO Bob Priest-Heck. “Sparks, like Freeman, is built by great people, has a long history of success, and is one of the most respected names in the industry. We couldn’t be more excited to have Sparks’ talented team join Freeman at this exciting time for the industry.”
Eagle Tree invested in Sparks in late 2020, partnering with the Sparks ownership group led by Tarte and Jeff Harrow, during a particularly difficult business environment for the events industry. Today Sparks is double the size it was in 2019, according to Eagle Tree.
Financing for the transaction was provided to Freeman by strategic partner KKR.
"Freeman continues to be an industry leader because of our ability to understand trends and make bold strategic moves to support our customers’ needs today and tomorrow,” explained Carrie Freeman Parsons, chair of Freeman. “As a family-owned company, we will continue to enhance our capabilities to better support corporate customers – deepening those relationships while also nurturing our longstanding relationships with show organizers."