DVC Group of New Jersey is to be acquired by a consortium comprising Chicago-based Frontenac, Lake Capital in Chicago and London and a group of private investors.

The £100 million deal creates DVC Worldwide, a holding company with plans to acquire other agencies.

Lake Capital’s Terence Graunke is now chair of the new company, while George Valva and Peter Dugan remain in their posts of chief executive and chief business development officer at DVC Group.

News source: New York Times