Agency M&A Mastery with Dom Hawes

In the agency M&A arena, Dom Hawes draws a clear line between capability and capacity purchases. Capability deals bring new services or geographic reach, while capacity acquisitions add market share by buying competitors that do the same work. Hawes argues that capacity buys can generate immediate market power, but they require careful brand handling to avoid diluting reputation. Selby Anderson’s portfolio reflects a blend of both, with early capability buys establishing deep sector expertise in financial services, pharma, and biotech, and later capacity bolt‑ons consolidating fragmented UK agencies into a cohesive group.

Deal origination is another pillar of Hawes’ playbook. Rather than relying on inbound advisor pitches, he cultivates a dedicated originator and leverages personal networks, family‑office capital, and a transparent podcast that educates potential sellers. This proactive approach yields high‑quality targets and gives Selby Anderson leverage in negotiations. Face‑to‑face meetings, even in pandemic‑restricted zones, are non‑negotiable for Hawes because they build trust with founders and uncover the human motivations behind a sale—factors that pure financial models miss.

Integration and structure round out the strategy. Hawes prefers under‑bidding while still winning, using a clear hierarchy of “foundation,” “development,” and “incubation” agencies to streamline post‑deal operations. He stresses preserving brand equity where possible, avoiding the culture clashes that plagued his earlier experience selling a company to a public firm. By keeping acquired teams autonomous for a period, then merging only where synergies exist, Selby Anderson maintains market credibility and maximizes EBITDA growth. The episode offers a pragmatic roadmap for marketers seeking to scale through acquisitions, emphasizing strategic intent, disciplined sourcing, and thoughtful integration.