I’m working with a few PE (Private Equity) backed agencies to train their account managers at the moment.
How PE works
PE firms typically set strict sales and performance targets for their portfolio agencies.
Their aim is to significantly grow revenue and EBITDA over a defined period (usually planning to sell within 3–7 years).
Team expectations
As a result their account managers aren’t just delivering, they’re firming up client spend. They expect them to:
Forecast accurately and manage pipelines (not just projects)
Embed cross-sell and upsell into client conversations
Understand the client's business (model and market)
Understand what client outcomes the agency's services provide
Deepen client relationships and spot churn early (and take action)
Own account growth, understand agency profitability and be proactive
What this means for you
Even if your agency isn’t backed by private equity, this might affect you:
If you’re competing against a PE-backed agency with clear targets and a 'land and expand' culture (and you don't think this way) you might miss out on business.
If you're an AM looking to move to another agency that's PE backed your role might become more account growth target focussed than you're used to
M&A in the UK and US
65% of UK agency acquisitions were PE-backed this year, according to Moore Kingston Smith's M&A in the UK media and marketing services sectors Q1 2025. This trend seems to be heading upwards.
In the US, PE-backed buyers controlled 72% of agency transactions in 2025 - an even higher proportion than the UK according to OPTIS Partners/Insurance Agency M&A Activity Oct 2025.
If you’re leading an agency team, now’s the time to ask: are your account managers commercially confident enough to compete?
If you're in an account management role, familiarise yourself with your agency's growth targets and forecast.
