Special has attracted a major investment partner in Waterman Capital. The financial backing will allow Special to unlock new territories, supercharge disciplines like Special PR and invest in talent, technology and capability.
Announced on October 30, the partnership will see Special create a unified global business. Waterman Capital has taken a significant shareholding, with 13 global partners retaining the remaining shares and leading the business.
The partnership also represents a vote of confidence in creativity as a driver of business growth at a time of significant change across the advertising industry. It will help Special strengthen its independence by combining its agility with scale and capabilities clients increasingly want, taking its global creative powerhouse offering to the next level.
Global creative company
Tony Bradbourne, Special’s founder, says: “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.
“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.”
Partners will continue to lead their businesses, maintaining the autonomy and entrepreneurial approach that have shaped Special’s success. Tony Bradbourne becomes global creative chairman, with Cade Heyde and Lindsey Evans as global co-CEOs, supporting greater alignment across the network.
As part of the new structure, managing director of Special PR Kelly Grindle becomes one of its 13 global partners. His remit includes furthering the growth of Special’s earned capabilities.
Global co-CEOs Lindsey Evans and Cade Heyde say: “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.”
Shared values
Special’s decision to partner with Waterman Capital reflects shared values, an appreciation for creative work and a belief in its commercial value.
The investment will support Special’s expansion into new markets, growth of its design, PR and strategic consultancy services, enhancement of its technology capabilities and continued investment in talent.
Jacques Venter, executive director at Waterman Capital, says: “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 to grow on a global scale. We see a compelling investment opportunity in the future of creativity, and Special is exceptionally well positioned to deliver on it.”
Heath Lowe, global head of design at Special, says: “The creative industry is undergoing a pace of rapid change, and our partnership with Waterman Capital will help ensure we’re set up for the future. We have been deliberate in our choice of investment partner. Waterman Capital believe in the power of brand design and wants to invest in its future. That is an encouraging testament to the entire industry – creativity is valuable and worth investing in.”
Since launching in New Zealand, Special has expanded from one office to a global creative company with eight offices worldwide, working with brands across multiple markets. Its nearly 10-year relationship with Uber and Uber Eats has contributed to its growth and established a model for global creative partnerships.
Awards galore
Special’s creativity has earned recognition at major award shows worldwide, including multiple Cannes Lions Grand Prix and an Emmy Award.
Special has won Campaign’s Global Creative Agency of the Year three times (more than any other agency in the world) and Global Independent Agency of the Year in 2026, alongside AdAge Independent Agency of the Year.
This creative success has translated into outstanding business results. Recognised as the World’s Most Effective Independent Agency Network by WARC, the agency also won the Grand Effie in New Zealand, Australia, the US and APAC this year, and was named Most Effective Agency of the Year in New Zealand, Australia and APAC.
Financial terms of the transaction were not disclosed.
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