FTI Consulting CEO Steven Gunby reported "ongoing progress" in development of its strategic communications unit as its first-quarter operating income soared to $4.1M from the $1M level of a year ago.
The mostly financial PR segment registered a 2.5 percent dip in revenues to $42.1M. Gunby blamed the decline in reported revenues to unfavorable foreign currency translations, which accounted for a negative 7 percent impact.
Stripping FX from the equation has FTI's strategic PR business up 4.4 percent due to growth in the EMEA and Asia-Pacific regions.
FTI attributes its solid PR income gains to "an improved mix of higher margin engagements and reduced headcount-related costs resulting from cost savings activities initiated in 2014.
Revenue-generating headcount in the communications area dropped to 556 from 584 staffers a year ago.
FTI's overall revenue advanced 1.6 percent to $432.3M. Net income rose 30.7 percent to $23.7M. Those earnings reflect some one-time benefits and a slow start to investments, according to the CEO.
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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