Special secures Waterman Capital investment

Special has secured investment from New Zealand firm Waterman Capital to fund its global expansion, bringing its partners into one global structure and appointing Cade Heyde and Lindsey Evans as global co-CEOs.

Waterman will become a significant shareholder in the New Zealand-founded creative company alongside Special’s partners worldwide. Financial terms and the size of Waterman’s stake were not disclosed.

Founder Tony Bradbourne will take the role of global creative chairman. Local partners will continue to lead their businesses with autonomy.

Funding new markets and capabilities

The investment will support expansion into new markets, the development of design, PR and strategic consultancy services, stronger technology capabilities and further investment in talent.

“Our ambition has always been to build a global creative company that creates work which makes the world sit up and take notice, and delivers extraordinary results for clients,” Bradbourne said.

“This investment gives us more scope to pursue that ambition: to attract exceptional talent, develop new capabilities and bring the power of our ideas to more places around the world.”

The deal gives Special funding to broaden its offering as clients seek greater scale and capabilities from agency partners. Special said its choice of Waterman reflected shared values and a belief in creativity’s ability to deliver commercial value.

Heyde and Evans lead global business

The new structure will introduce greater global coordination under Heyde and Evans, while retaining the local leadership model that has underpinned Special’s growth.

“We’re as brave and entrepreneurial today, as we were on day one. This partnership gives us the backing to keep pushing forward, creating new opportunities to enter markets, build capabilities, and find further ways to create impact for our clients, while staying true to the extraordinary talent and culture that makes Special special. This isn’t about changing who we are; it’s about backing what has made us successful and allowing us to see just how far we can take it,” Evans and Heyde said.

Special now operates eight offices worldwide. Its relationship with Uber and Uber Eats spans nearly a decade and has driven much of its expansion.

The company’s awards include multiple Cannes Lions Grand Prix and an Emmy. It has also won Campaign’s Global Creative Agency of the Year three times, along with effectiveness recognition from WARC and the Effies.

Waterman backs further growth

Waterman Capital executive director Jacques Venter said Special’s talent, client relationships and international footprint supported the investment case.

“We have a strong track record of backing exceptional people-led businesses and accelerating their growth. Special is a well-established global group with world-class talent and strong client relationships. It has significant scope to continue growing globally. We see a compelling investment opportunity in the future of creativity, and Special is exceptionally well positioned to deliver on it,” Venter said.

Special has not named its next target markets or disclosed how much funding will be allocated to expansion, services or technology.