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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.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
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Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
