The city of Detroit spent $700K at two PR firms through its historic 17-month bankruptcy ended Dec. 10.
The city paid Abernathy MacGregor Group $480K for PR counsel, while Duffey Petrosky earned $220K.
Nowling & Company, the firm of city emergency manager Kevin Orr's spokesman Bill Nowling, formerly of Duffey Petrosky, took home another $150K, according to a Dec. 30 court filing listing fees and expenses of the city and ordered by the US Bankruptcy Court for the Eastern District of Michigan.
Detroit emerged from Chapter 9 bankruptcy on Dec. 10, nearly 17 months after its July 2013 filing.
Abernathy MacGregor, leading up to and through the bankruptcy filing, focused on financial communications efforts as the city wooed Wall Street and government officials.
Duffey Petrosky, based in Farmington Hills, Mich., provided PR counsel to Orr.
Nowling in November joined Finn Partners' Detroit office after wrapping up his duties with the city.
Legal and financial counsel was the city's top billing category, including $57.9M to law firm Jones Day, $22.8M to investment bank Miller Buckfire, $20M to Ernst & Young, $17.3M to turnaround advisors Conway Mackenzie and $15.4M to law firm Dentons.
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.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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