Granite Digital eyes US market with latest deal

The acquisition of LCM247'S digital division is expected to boost the Cork firm’s revenues to more than €13m this year.

Robert Carpenter, Chief Commercial Officer of Granite Digital; Conor Buckley, CEO of Granite Digital; and Patrick Heaphy, Founder and President of LCM247. The acquisition is expected to boost Granite Digital's revenues beyond €13m this year and will provide Granite with a strategic foothold In the US.

Cork marketing agency Granite Digital has expanded further into the US by purchasing a majority stake in New York film production agency LCM247’s digital division.

Granite Digital acquired 75% of the division for an undisclosed sum and the deal is expected to boost the Cork firm’s revenues to more than €13m this year.

“It's not merely about global scaling, it’s about enriching our portfolio with global experts,” said Conor Buckley, CEO of Granite Digital.

The acquisition of the Emmy-nominated agency will form LCM by Granite, merging the two firms together, and will grow staff numbers to more than 110 with the addition of LCM247’s 12 digital professionals.

"We now have a team on the ground in New York and aim to accelerate our expansion across the East Coast over the next 24 months,” said Robert Carpenter, chief commercial officer of Granite Digital.

Granite Digital has offices in Cork, Dublin, and Galway, and LCM247’s office outside Manhattan.

In Ireland, it continues to provide services including design, technology, strategy, digital marketing, and advertising to clients such as IDA Ireland, Pfizer, Lidl, Dalata Hotel Group, Bord Bia, Shannon Airport, Uniphar, Bon Secours Health System and Travelopia.

Granite Digital was founded in Cork in 2008 and has grown its client base to over 1,200 organisations.

LCM247 is a creative agency and television production studio founded by Patrick Heaphy, which works with clients on design, marketing automation, website, and app creation in addition to producing advertisements, network TV series, and documentaries. Upcoming motion pictures in development include Rare Objects starring Katie Holmes.

Growth

Revenues at the firm are set to grow by $3m (€2.8m) in new US revenues in the first 18 months following the deal.

This is the latest acquisition by Granite Digital that has increased its presence in the US. Last year, the company purchased Irish digital agency Continuum which also has offices in New York.

The deal, which was announced last November, added over 100 Continuum clients from across Ireland, the UK, US, South America, and Asia to Granite Digital's business.

Granite Digital has completed 13 successful acquisitions, four of which have been in the last two years, including Willows, Armour, and Connector, despite economic headwinds hitting the firm.

For example, Brexit became a lingering nuisance for the expanding firm.

In 2021, Granite Digital was in the process of acquiring a UK-based company but due to a number of reasons, including Brexit, the deal never happened.