Special Forms Strategic Partnership with Waterman Capital
The creative agency consolidates its global structure following an investment from the private equity firm.
Updated on Oct. 29, 2026 in Business Strategy
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Creative agency Special has entered into a strategic partnership with investment firm Waterman Capital, which has acquired a significant stake in the business. The move consolidates Special's operations into a unified global structure while maintaining existing leadership.
Why it matters
The infusion of capital is designed to fuel Special's expansion into new international markets and support the development of enhanced design, PR, and strategic consultancy services. It also provides the resources necessary to scale new technology capabilities across the firm.
Special currently operates eight offices worldwide and maintains a 10-year client relationship with Uber and Uber Eats. The agency earned the Global Independent Agency of the Year title in 2026.
The players
Special
A creative agency with a global footprint that has held a long-term partnership with major brands like Uber.
Waterman Capital
An investment firm that has moved to become a significant shareholder in the creative agency.
Tony Bradbourne
The agency leader who has assumed the newly created role of Global Creative Chairman.
Cade Heyde
An executive who has stepped into the role of Global Co-CEO to help steer the consolidated firm.
Lindsey Evans
An executive who has been appointed as a Global Co-CEO to lead the agency's next phase of growth.
The details
Under the new structure, Special partners retain leadership roles within their respective business units. Tony Bradbourne has been named Global Creative Chairman, with Cade Heyde and Lindsey Evans appointed as Global Co-CEOs.
Timeline
The partnership announcement was made on October 29, 2026.
Special was recognized as Global Independent Agency of the Year in 2026.
Market Landscape
Special leverages its momentum from the 2026 Global Independent Agency of the Year award to secure this new investment partnership. This move signals a trend of independent agencies consolidating resources to compete more effectively in global markets.
Clients can expect the agency to offer a wider range of services, including expanded PR and strategic consulting options. The agency's existing long-term account management is expected to remain consistent under the current leadership.
The takeaway
Investment partnerships are becoming a common mechanism for successful independent creative agencies to scale their operations. Leaders of such firms prioritize maintaining local autonomy while accessing global capital to enhance their technological and service offerings.
Further reading
Learn more about the latest shifts in Business Strategy.
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