Larger Checks
PPHC buys Reevemark for up to $80M. It paid $28M at close (95% cash, per Reuters), and up to $52M more depends on profit growing about 35% a year through 2031. Reevemark expects $11.2M in 2026 net revenue and $3.9M in pretax profit. That puts the upfront payment at roughly 7x profit and 2.5x revenue (our math) for a 17-person firm. PPHC pays a fair price now, and the founders have to earn the rest.
AVENIR GLOBAL buys Marker Collective from Next 15 for £70.4M in cash, about $95M. Marker is Archetype, Nectar and Outcast plus the Delve AI platform: roughly 650 people in 20 offices, or about £108K per head (our math). No revenue was disclosed, so there’s no multiple. Next 15 is slimming down, and Avenir gets a ready-made tech-comms business.
