GRAND RAPIDS — Charter Growth Capital Fund has acquired a minority stake in Grand Rapids-based public relations and investor relations firm Lambert & Co.
The debt and equity investment will support Lambert & Co.’s growth at its locations in Michigan, Arizona, Texas and New York, as well as help accelerate the firm’s M&A strategy and the launch of new practice areas.
“Lambert has grown from a start-up in my basement to one of the nation’s leading firms for integrated strategic communications,” founder and Chairman Jeff Lambert said in a statement on the investment. “We have aggressively expanded our national clients and service footprint throughout our 23-year history, but never more so than in the last five years, and we believe Charter is a great partner to help us push the pace of growth and M&A.”
Lambert retained a majority stake in the firm. Terms of the investment were otherwise undisclosed.
Managed by Grand Rapids-based Charter Capital Partners, Charter Growth Capital Fund makes minority investments of $1 million to $5 million in growing, middle-market companies in the Great Lakes region that need growth capital.
Lambert & Co. has expanded at a compound annual growth rate of more than 20 percent over five years and recently completed its fifth transaction in three years. The firm employs more than 100 people.
“Our mission is to provide capital to industry-leading companies that will maximize our investment and Lambert is a company on a path to do just that,” Charter Growth Capital Fund Managing Director John Kerschen said in today’s announcement of the investment. “The investment thesis was compelling based on their track record of both organic and acquisition growth, as well as industry-first innovation, and we expect to see another 20 percent growth year in 2022.”