Indianapolis-based marketing firm TrendyMinds, the city’s largest advertising agency, has acquired Utah-based marketing agency Faktory Inc. in deal worth more than $10 million, the local company announced early Tuesday.
Faktory is a full-service creative, media and public relations agency headquartered in the Salt Lake City suburb of Centerville with an office in Denver and nearly 30 employees in six states. The acquisition lifts TrendyMinds’ workforce to 135.
Trevor Yager, chairman and CEO of TrendyMinds, declined to provide exact financial terms for the deal but said it was an eight-figure acquisition. He said Faktory has an attractive roster of enterprise clients in the health care, finance, and energy, and will expand strategic capabilities for TrendyMinds.
“Faktory’s founders created a high-performing business that is accretive to our growth” Yager said in written comments. “Faktory is a stellar addition to our talented team. This expansion broadens our public relations and media offerings, and brings a wealth of new services to Faktory’s valued clients plus a fresh new perspective to our existing clients.”
Contour Ridge, a San Antonio-based private equity firm that made an eight-figure investment in TrendyMinds in March 2022, partnered on the Faktory deal with Houston-based investment firm Genesis Park.
“We’re pleased to partner with TrendyMinds and Contour Ridge in purchasing Faktory—a firm with an impressive client roster and proven success,” Gina Luna, managing partner of Genesis Park said in written comments. “Our aim is to bolster and expedite the growth of TrendyMinds’ dynamic platform. We are excited to fuel their accelerated development and are impressed by the strong business foundation they have established.”
TrendyMinds said Faktory has received national recognition for award-winning campaigns and is “on a trajectory of rapid growth. The agency is known for its expertise in traditional and digital media, PR strategy, data-driven research, and creativity, and it has a loyal enterprise customer base,” it said.
Faktory co-founder and CEO Bryant Marcum has been named TrendyMinds’ chief strategy officer as part of the acquisition. Marcum will oversee the transition for Faktory clients.
“Months of discovery went into making sure our cultures, values, and excellence in client service were aligned,” Marcom said. “We’re confident that this strategic collaboration will result in an elevated, data-driven marketing powerhouse that will provide limitless possibilities for our clients.”
TrendyMinds provides digital marketing services for enterprise-level clients in the health care, pharmaceutical, manufacturing, technology, green energy, data, and analytics industries. The agency was founded in 1995 and merged with its sister agency, Tactic Marketing, in late 2017.
In December 2022, TrendyMinds acquired Fishers-based Statwax, a marketing agency that focuses on data science and analytics.