he pace and profile of independent agency M&A activity has shifted meaningfully over the past year. What once felt opportunistic now feels increasingly strategic—and urgent.
When Barkley and OKRP merged in early 2024 to form BarkleyOKRP, it was a landmark move: two of the most respected U.S. indie shops combining forces to scale capabilities, geographic reach, and client impact. Just months later, Tombras followed with two acquisitions of its own—The Burns Group in New York and Niña in Buenos Aires—extending its creative and global footprint while staying firmly independent.
Meanwhile, Klick Health, another Indie Agency News member, acquired Peregrine Market Access, reinforcing its position in specialized healthcare communications while retaining its independent structure—and landed the Singapore operations of Ward6. And R/GA, a name long synonymous with the holding company world, regained its independence through a private equity acquisition—an uncommon reversal with strategic implications across the industry.
These moves aren’t anomalies—they’re signals. Independent agencies are acting with intention. Some are building toward long-term value creation. Others are repositioning to attract talent, clients, or capital. Many are simply preparing—knowing that even if a deal isn’t on the table today, the groundwork still needs to be in place.
Matchstick Legal has seen this shift firsthand. In response, they’ve published a focused series of resources to help agency leaders navigate the legal, operational, and financial realities of M&A with clarity.
🗂️ Be Ready Before the LOI: Pre-Due Diligence Guide
Before conversations become offers, potential buyers are evaluating your agency’s risk. This guide walks through what they’re looking for early: clean contracts, tight financials, and operational clarity. It’s built for founders who want to be ready—not reactive—when interest comes in.
💰 Navigating Earnouts: What to Know Before You Sign
Earnouts can help bridge the gap between valuation and payout—but they’re also where deals can sour. This resource breaks down how they’re structured, where misalignment creeps in, and how to build terms that hold up under pressure.
📋 The Real M&A Readiness: Operational and Cultural Prep
This isn’t just legal paperwork. It’s about the people side of the deal—what leadership needs to align on, how to assess cultural fit, and why integration planning should start well before signatures hit the page.
🛠️ Fix the Foundation: 10-Part Email Course on Better SOWs
Even if you’re not thinking about selling, messy SOWs are still expensive. This free email course tackles the fundamentals: scope clarity, payment terms, change management, and how to protect your time and work. It’s the kind of cleanup that improves performance now and signals readiness later.
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Doug Zanger is the founder and editor-in-chief of Indie Agency News. He is also the founder of the Creative Bohemian consultancy, lives in the Pacific Northwest and is insufferable about it.
