Key Takeaways
- • Private equity firm Waterman Capital has made a major investment in Special, a New Zealand creative advertising agency, which the NZ Herald describes as the biggest deal in NZ creative and marketing history.
- • Special began with three chairs, a desk and no clients in a disused movie theatre in Kingsland, Auckland, and now operates offices in Los Angeles, New York, London and Tokyo.
- • The deal is intended to fund a larger global expansion push for the agency, according to the NZ Herald.
Summary
New Zealand creative agency Special has announced a major private equity deal with Waterman Capital, according to the NZ Herald, which reported the transaction on October 29, 2026. The NZ Herald's Media Insider column, written by NZME Editor-at-Large Shayne Currie, characterises the investment as the biggest deal in New Zealand creative and marketing history.
The agency's trajectory is notable for its scale. Special started with three chairs, a desk and no clients in a disused movie theatre in Kingsland, Auckland. It now has offices in Los Angeles, New York, London and Tokyo, and its creative campaigns have gained recognition both in New Zealand and internationally.
The source material available for this summary is limited to the opening of the article, so financial terms of the Waterman Capital investment, including the deal value and stake size, are not confirmed here. The deal is described as intended to fuel a bigger global push for the agency.
The agency's trajectory is notable for its scale. Special started with three chairs, a desk and no clients in a disused movie theatre in Kingsland, Auckland. It now has offices in Los Angeles, New York, London and Tokyo, and its creative campaigns have gained recognition both in New Zealand and internationally.
The source material available for this summary is limited to the opening of the article, so financial terms of the Waterman Capital investment, including the deal value and stake size, are not confirmed here. The deal is described as intended to fuel a bigger global push for the agency.
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