Troy marketing firm Phoenix Innovate aims for growth with acquisition
Troy-based marketing and research company Phoenix Innovate has made efforts to expand its reach.
Phoenix Innovate, which works with customers in the healthcare, nonprofit, education, and automotive industries, announced Monday that it has acquired Avanzado LLC, based in Farmington Hills. Avanzado was founded in 2004 and serves customers in the automotive, real estate, telecommunications, healthcare and gaming sectors. Customers include Chrysler, the Greektown Casino Hotel, MotorCity Casino, Verizon and HAP.
With the move, Phoenix Innovate is taking over the custom applications from Avanzado, which reduce costs and processing times, while providing personalized messages with multiple channels. Phoenix Innovate employees would not disclose the terms of purchase.
“Part of our growth strategy is to grow organically and grow through acquisitions,” said Kirk Vercnocke, CEO of Phoenix Innovate. “We’re looking for smaller companies that are exactly what we’re looking for. We’ve had around 15 to 20 companies that we looked at. I called Craig Avye (Avanzado CEO) to try to build a relationship. It turns out that we have a mutual relationship. ” Friends. As time passed, (Frye) decided it was time (to leave the company) and time for us to make the acquisition. “
Phoenix Innovate was founded in 1987 and will be welcoming 14 of Avanzado’s 19 employees as part of a move the company hopes will create data-driven, bespoke marketing solutions for current and future customers. All 54 Phoenix Innovate employees will remain in their roles, according to Mark Gaskill, executive vice president of Marketing Solutions.
According to Gaskill, Phoenix Innovate has made it a priority over the past decade to focus on different communication channels so customers can achieve their sales goals.
Vercnocke said this is the company’s first acquisition. Recognized as one of Crain’s coolest places in 2018, Phoenix Innovate aims to be a company that gives employees room for growth and advancement.
“We want to attract talented people,” said Vercnocke. “The company must have grown so much that the employees can grow” and continue to develop.