December 18, 2006
Goldman Sachs' Hispanic Strategy
How did this partnership come about?
DP: Well there are really three things that attracted me to Goldman Sachs: First, I've known them for a number of years, so there is a good relationship there. Second, they're very savvy investors with a proven track record of success and a long view of the Hispanic market. And finally, they have all of the financial backing one could ever want to help build and develop these companies to their fullest potential.
What geographical markets is Goldman Sachs interested in exploring for this venture?
DP: All of the major markets across the country: Miami, L.A., Chicago, Texas, and New York, to start with. Our focus is really on finding best-in-class services, as well as establishing a national footprint.
What sort of time-frame are you working with to make these acquisitions?
DP: This is the beginning of an endeavor that will be years in the making. Goldman Sachs sees the Hispanic marketing services arena as a growth area that will continue to develop for the foreseeable future, and they look forward to being a part of that growth.
What other criteria must properties of interest meet other than the $5 million minimum revenue requirement to be considered for acquisition?
DP: We're looking for strong verticals of PR, Advertising, Creative, Research, and Digital services. Another crucial factor is that the companies have strong management and leadership. We view these acquisitions as building blocks in a puzzle. Some will be merged, but the end game is to have all of these companies serve complimentary functions that will strengthen the standing of each in the bigger picture.
What sort of marketing services are you most interested in exploring?
DP: Digital services and the capability to produce websites and digitally-based media properties. We're also looking at the possibilities that exist in the mobile arena and the ability to wage digital campaigns on mobile platforms.