WPP Welcomes KKR as Strategic Partner in FGS Global
11 Aprile 2023 - 2:00PM
Business Wire
WPP (NYSE: WPP) today announces that leading global investment
firm KKR has made a growth investment in FGS Global, the strategic
advisory and communications consultancy in which WPP is a majority
shareholder.
FGS Global has 1,300 experts around the world advising clients
in navigating complex situations and reputational challenges. It
was created through the combination of leading strategic
communications and public affairs firms Finsbury, The Glover Park
Group, Hering Schuppener and Sard Verbinnen & Co.
FGS Global is a leading company in financial communications
globally and was recently ranked the number one global PR firm for
deal count and value by Mergermarket, having advised on 322 deals
with a total value of over $657 billion in 2022. Its advisory
services span all aspects of strategic communications, including
corporate reputation, crisis management and government affairs. It
operates from global offices in 27 cities around the world.
Following the investment from KKR, WPP will remain the majority
owner of the company, and FGS Global employees will remain
substantial shareholders. Golden Gate Capital, the private
investment firm which has been a shareholder in FGS Global since
2016, will exit its investment through the sale of its interest to
KKR.
The transaction values FGS Global at $1.425 billion. It is
expected to close before the end of the third quarter of 2023,
subject to regulatory approvals and other customary closing
conditions.
The strategic partnership with KKR – one of the world’s leading
investment firms – will help to drive the continued growth of FGS
Global, the innovation of its service offering and the expansion of
its international footprint in the resilient and growing strategic
advisory sector. KKR is making the investment in FGS Global
primarily through its European Fund VI.
Mark Read, CEO of WPP, said: “FGS Global has established
itself as a global leader in strategic advisory and communications,
providing board-level counsel to the world’s leading companies and
organisations. We are delighted to welcome KKR as a new strategic
partner in FGS Global, in a transaction that recognises the
tremendous value of the business and its potential for continued
strong growth.”
Philipp Freise, Partner at KKR, said: “WPP and FGS Global
have built an exceptional communications advisory firm. Stakeholder
engagement is a boardroom issue and we are today establishing a
powerful strategic partnership between WPP and KKR to support FGS
Global as they continue on their path to building an
industry-defining global business.”
Alex Geiser, Global CEO of FGS Global, said: “We are
thrilled to be joined by KKR as a strategic partner on our journey
to create the world leader in strategic advisory and
communications. Our mission to help leaders lead in an increasingly
complex stakeholder environment is timelier than ever. The fact
that a global investor with the great sophistication and experience
of KKR has joined WPP in seeing what we see in our people, the work
we do for clients and our future is immensely motivating. We are
grateful our clients and our employees will be the
beneficiaries.”
About WPP
WPP is the creative transformation company. We use the power of
creativity to build better futures for our people, planet, clients
and communities. For more information, visit www.wpp.com.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people and supporting growth in its portfolio companies
and communities. KKR sponsors investment funds that invest in
private equity, credit and real assets and has strategic partners
that manage hedge funds. KKR’s insurance subsidiaries offer
retirement, life and reinsurance products under the management of
Global Atlantic Financial Group. References to KKR’s investments
may include the activities of its sponsored funds and insurance
subsidiaries. For additional information about KKR & Co. Inc.
(NYSE: KKR), please visit KKR’s website at www.kkr.com and on
Twitter @KKR_Co.
About FGS Global
FGS is a leading global strategic communications consultancy,
with 1,300 experts around the world, advising clients in navigating
complex situations and reputational challenges. FGS Global was
formed from the combination of Finsbury, The Glover Park Group,
Hering Schuppener and Sard Verbinnen & Co to offer board-level
and c-suite counsel in all aspects of strategic communications –
including corporate reputation, crisis management and government
affairs – and is also the leading force in financial communications
worldwide.
FGS offers seamless and integrated support with offices in the
following locations: Abu Dhabi, Amsterdam, Beijing, Berlin, Boston,
Brussels, Chicago, Dubai, Dublin, Düsseldorf, Frankfurt, Hong Kong,
Houston, Kingston, London, Los Angeles, Munich, Paris, Riyadh, San
Francisco, Shanghai, Singapore, Tokyo, Washington, D.C., West Palm
Beach, and Zurich. The headquarters is based in New York.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230411005644/en/
WPP Richard Oldworth richard.oldworth@buchanancomms.co.uk
+44 (0)7710 130 634 Chris Wade chris.wade@wpp.com Niken Wresniwiro
niken.wresniwiro@wpp.com FGS Global Dorothy Burwell / Brooke
Gordon / Jennifer Loven / Dirk von Manikowsky
mediaglobal@fgsglobal.com KKR Julia Leeger / Miles
Radcliffe-Trenner media@kkr.com
Grafico Azioni WPP (NYSE:WPP)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni WPP (NYSE:WPP)
Storico
Da Giu 2023 a Giu 2024