Financial 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.