Senior Management of DMW Purchases Company From DIMAC Marketing Partners
DMW is a direct response agency with offices in Philadelphia and Boston.
The sale was closed on Dec. 28, 2001. The terms of the sale were not disclosed.
The management group was led by Warren A. Hunter, president/CEO, and Josie B. Clippinger, executive vice president and chief financial officer.
"It is this experience and long-term connection to our clients and employees that make this transaction so positive," said Hunter, who has been with the agency since 1988. "We've been under a corporate umbrella since 1995. It's great to now have the autonomy to put the best interests of our clients and employees at the forefront."
Clippinger reported that discussions for the buyout began about five months after the agency's parent emerged from Chapter 11 bankruptcy protection in February 2001.
The other equity partners are: Tom Hurley, managing director of the Boston office and president, nonprofit group; Gina Kneib, senior vice president, production; Linda Reed, senior vice president, strategic planning and program development; Bill Spink, executive vice president, chief creative officer; and Richard N. Tooker, senior vice president, database and interactive marketing.
Also, at the time of the sale, DMW announced the outside directors to serve on its board. Former DMW CEO Steve Isaac was named chairman. Other board members are Jonathan Lambert, chairman of Acton International, and Terry John, chief financial officer of Electronic Health Information.
DMW includes among its clients numerous BlueCross BlueShield plans nationwide, more than 50 public television stations, SunGard Recovery Services Inc., Upland Mortgage, CSFBdirect and the American Humane Association.