Bruin Sports Capital’s Engine Shop experiential marketing agency is acquiring sponsorship evaluation firm IEG from WPP’s GroupM. The deal means WPP will discontinue its ESP Properties brand in the U.S., but continue using it in a few markets abroad. IEG’s 10-person shop will continue to be based in Chicago under the aegis of Engine Shop, itself a BSC acquisition in ’15.
“Strategy, activation, and measurement are the three areas we want to deliver to clients and this piece (IEG) gives us the means to deliver all of those comprehensively,” said Engine Shop CEO Brian Gordon. “The big thing we’ll focus on investing and innovating on with IEG is ensuring that digital/social pieces are incorporated fully into their valuation and measurement models, since that’s how so many brands are looking to leverage sponsorships now.’’
Gordon said the deal has been in the works for 3-4 months, adding that he expects to add staff at IEG. Engine Shop hopes to expand IEG’s annual conference, as well as add events. IEG’s Sponsorship.com site will be relaunched as IEGWorld, with what was termed a “new approach to content and distribution.’’
Read More
IEG was acquired by Group M in '06, but never really found a home there, as the sister ESP Properties sports sponsorship unit never achieved industry relevance. WPP is also a lead investor in BSC. “Analytics and measurement are what everyone’s asking for now in sponsorship marketing, so we believe IEG will be a great differentiator,’’ said BSC Exec VP & Principal David Abrutyn. “Considering their history, there isn’t a brand or property that doesn’t have some element of IEG’s sponsorship valuation tools in their offerings.’’
The IEG acquisition is the latest in a recent series for Engine Shop. Since late last year, Engine Shop has acquired esports shop The Gamer Agency, SA Studios Global’s esports and football divisions and Terrence Burns’ Olympic-focused T Burns Sports Group.
