WPP CEO Mark Read has announced that KKR has made a “growth investment" in FGS Global, a transaction that values the strategic & financial communications firm at $1.4B.
He welcomed KKR as a “new strategic partner” that will help drive FGS Global’s growth and expansion of its international footprint.
Philipp Freise, KKR partner, lauded WPP and FGS Global for building an exceptional communications firm. “Shareholder engagement is a boardroom issue and we are today establishing a powerful strategic partnership between WPP and KKR to support FGS Global as they continue on their path to building an industry defining global business," he said.
WPP will remain the majority owner of FGS Global, which has 1,300 staffers in 27 cities around the world.
Golden Gate Capital, which has been a shareholder in FGS Global since 2016, will sell its interest to KKR.
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