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Tom RyanFinancial communications/IR shop ICR Inc. has sold an investment stake to New York-based Investcorp.
ICR says the partnership will help it accelerate organic growth, identify complementary acquisitions and expand overseas.
"We are thrilled to partner with Investcorp on these efforts, which in turn, will help us better serve our clients and the dynamic challenges they face each day,” said ICR CEO Tom Ryan in a statement.
ICR ranks No. 5 on O’Dwyer’s roster of top PR firms with 2017 fee income of $63.4M (up 13.9 percent from 2016) and 177 staffers.
David Tayeh, head of corporate investment for North America at Investcorp, said: “ICR is perfectly positioned to broaden its service offerings to meet the growing needs of current and prospective clients."
Ryan and his management team will retain a significant ownership position in ICR.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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