Cedar Pine Acquires PJA Advertising + Marketing As Investment Firm’s Entry Point Into Marketing Services


CAMBRIDGE (December 12, 2022) – Cedar Pine, a Chicago-based private investment firm, has acquired PJA Advertising + Marketing (PJA), a leading B2B agency with deep expertise in innovation-driven markets.

“PJA’s specialization in life science, technology, and financial services dovetails with our interests and investment focus,” said Mitchell Lederer, Managing Director of the newly formed Cedar Pine Marketing Services (CPMS). “We were drawn to their strategic practice and award-winning creative,” Lederer added. “They have a management team in place poised for the next chapter of growth. This profitable business delivers a high level of value for its clients. We plan to support and enhance PJA’s success with the necessary operating expertise and resources.”

The 35-year-strong Cambridge firm, among the longest standing independent advertising and marketing agencies in Greater Boston, was founded by Phil Johnson, who served as CEO of PJA until the December sale. Johnson will continue to consult with CPMS on its future strategy.

Mike O’Toole, who has been with PJA since 1997, will remain President. “As marketing has become more data- and technology-driven, client needs have become more specialized,” said O’Toole. “I like the idea of PJA continuing to serve as the core strategic and creative brand partner for our clients, and we now have the opportunity to explore complementary capabilities that can bring deeper analytical, technical, and specialized expertise to bear. We’re happy to have a partner who shares our vision and can help us build on our strengths.”

The PJA staff of 30 will remain in their current roles. “PJA clients and the team are grateful for the continuity and excited by the potential,” Johnson said.  “All that our clients value today – every team member, our industry expertise, our commitment to great creative, and our culture – stays intact.”

The top goal for both PJA and CPMS will be future growth. “We’re planning to explore future marketing capabilities that will bring value to our clients. And we’re constantly looking for other innovation-driven categories that can benefit from our strategic approach and breakthrough creativity,” O’Toole said.

PJA was represented by Media Advisory Partners. Based in New York, Media Advisory Partners is an M&A advisory firm specializing in the marketing services, media, and business information industries.

PJA is a creative marketing agency with deep B2B roots and a strategic practice to serve innovation-driven markets. The agency provides its clients with positioning strategies, brand stories and platforms, a full range of advertising and marketing programs, media services, and creative execution across all channels, including digital, broadcast, experiential, and print. PJA brings an uncompromising combination of great strategy and creative that helps clients in complex markets tell their stories. PJA Helps Sell Amazing Things to the World’s Toughest Buyers. phpstack-70211-273955.cloudwaysapps.com

Cedar Pine is a private investment firm specializing in strategic, long-term assets. Cedar Pine’s team strives to create value by applying and building on decades of unique expertise as operators and investors in healthcare, finance, and real estate.

Let us help your innovation-driven brand get the credit it deserves.

Contact Greg Straface at [email protected]


12 Arrow Street
Cambridge, MA 02138
Office: 617.492.5899
New Business: 781.330.9133