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Private equity giant KKR is expected to buy a 30 percent stake in FGS Global, a transaction that values the financial PR/crisis communications firm in the $1.4B range.
It will buy shares from WPP, owner of 57.7 percent of FGS Global, and key executives of the firm, according to a report in the Financial Times.
FGS Global is headed by chair Roland Rudd and chief executive Alexander Geiser. KKR is a longtime client of the firm.
FGS has more than 1,200 staffers, of which 200 of them are partners.
The firm had been planning an initial public offering in 2024, but the KKR investment has put that deal on ice.
Why selling your public relations firm to a strategic buyer delivers not only a high monetary payoff but is also the clearest path to securing your legacy.
Kekst CNC represents the DallasNews Corp. as it gets acquired by Hearst Corp. for about $75M. The 140-year-old Dallas Morning News will join Hearst's 28 dailies.
M&A transactions in the PR and marketing communications sectors were up 10 percent in 2024, according to Davis+Gilbert’s newly released M&A Activity Tracker.
Avoq has acquired SRA Communications, a Harrisburg-based PA shop focused on public health, banking, energy and public utilities.
