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.