Two Boise firms expand with acquisitions in California and Texas

Two Boise-based companies announced acquisitions of out-of-state firms on the same day this week, with an advertising agency absorbing a Southern California shop and a wealth management firm picking up an Austin, Texas, practice managing roughly $4 billion in assets.

Drake Cooper acquires Orange County ad agency

Drake Cooper, a 100% employee-owned advertising agency founded in Boise in 1978, has acquired Gigasavvy, an Orange County, Calif.-based agency known for its work with consumer and lifestyle brands. Gigasavvy’s client roster includes HI-CHEW, Toshiba, AAA and Flexfit.

The Gigasavvy brand will be absorbed into Drake Cooper, which will maintain an Orange County office in addition to its existing Los Angeles presence. Gigasavvy’s former president, Kyle Johnston, joins the combined agency as executive director of integration.

“From our earliest conversations with Gigasavvy, it was clear that our organizations share the same values, mindset, and commitment to doing great work for our clients and our people,” said Mindy Stomp, CEO of Drake Cooper. “By coming together, we’re expanding Drake Cooper’s presence in Southern California and creating a larger independent agency with broader capabilities, deeper talent, and greater opportunities for our clients and employee-owners.”

Drake Cooper has nearly 100 full-time employees and offers creative, analytics, marketing technology, interactive and media strategy services. The agency was a recent Ad Age Small Agency of the Year award winner and has client tenure four times the industry average, according to the American Association of Advertising Agencies. Gigasavvy was founded in 2008.

Caprock acquires Venturi Private Wealth

Caprock, a Boise-based multi-family office registered investment adviser serving ultra-high-net-worth clients, has acquired Venturi Private Wealth, an Austin-based wealth management firm founded in 2015.

The deal brings approximately 30 Venturi employees to Caprock, including 10 advisors, and expands Caprock’s presence into Austin and Oklahoma City. Venturi clients will continue working with their existing advisors while gaining access to Caprock’s broader family office resources and investment platform. Venturi co-founder and CEO Russ Norwood and Joey Sager, who leads Venturi’s Oklahoma City office, will become managing directors at Caprock. Financial terms were not disclosed.

Caprock advises on approximately $17 billion in client assets, has more than $8 billion invested across private markets and serves 468 families nationwide. The addition of Venturi expands the firm’s footprint in what it described as one of the country’s largest and fastest-growing wealth management markets.

“Venturi has built an exceptional firm grounded in trust, thoughtful advice and long-term client relationships,” said Greg Brown, co-CEO of Caprock. “They share our belief that serving wealthy families requires a broad family office approach that extends well beyond investment management.”

Berkshire Global Advisors served as financial adviser to Venturi, with DLA Piper as its legal counsel. Stoel Rives LLP served as legal adviser to Caprock.

This story was written using artificial intelligence with human oversight.