REG - WPP PLC - Update re FGS Global

WPPAnnouncement

11/04/2023 10:30

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RNS Number : 8081V  WPP PLC  11 April 2023

 

 

 FOR IMMEDIATE RELEASE  11 April 2023

 

WPP PLC ("WPP")

 

WPP WELCOMES KKR AS STRATEGIC PARTNER IN FGS GLOBAL

 

 

WPP today announces that leading global investment firm KKR has made a growth
investment in FGS Global, the strategic advisory and communications
consultancy in which WPP is a majority shareholder.

 

FGS Global has 1,300 experts around the world advising clients in navigating
complex situations and reputational challenges. It was created through the
combination of leading strategic communications and public affairs firms
Finsbury, The Glover Park Group, Hering Schuppener and Sard Verbinnen &
Co.

 

FGS Global is a leading company in financial communications globally and was
recently ranked the number one global PR firm for deal count and value by
Mergermarket, having advised on 322 deals with a total value of over $657
billion in 2022. Its advisory services span all aspects of strategic
communications, including corporate reputation, crisis management and
government affairs. It operates from global offices in 27 cities around the
world.

 

Following the investment from KKR, WPP will remain the majority owner of the
company, and FGS Global employees will remain substantial shareholders. Golden
Gate Capital, the private investment firm which has been a shareholder in FGS
Global since 2016, will exit its investment through the sale of its interest
to KKR.

 

The transaction values FGS Global at $1.425 billion. It is expected to close
before the end of the third quarter of 2023, subject to regulatory approvals
and other customary closing conditions.

 

The strategic partnership with KKR - one of the world's leading investment
firms - will help to drive the continued growth of FGS Global, the innovation
of its service offering and the expansion of its international footprint in
the resilient and growing strategic advisory sector. KKR is making the
investment in FGS Global primarily through its European Fund VI.

 

Mark Read, CEO of WPP, said: "FGS Global has established itself as a global
leader in strategic advisory and communications, providing board-level counsel
to the world's leading companies and organisations. We are delighted to
welcome KKR as a new strategic partner in FGS Global, in a transaction that
recognises the tremendous value of the business and its potential for
continued strong growth."

 

Philipp Freise, Partner at KKR, said: "WPP and FGS Global have built an
exceptional communications advisory firm. Stakeholder 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."

 

Alex Geiser, Global CEO of FGS Global, said: "We are thrilled to be joined by
KKR as a strategic partner on our journey to create the world leader in
strategic advisory and communications. Our mission to help leaders lead in an
increasingly complex stakeholder environment is timelier than ever. The fact
that a global investor with the great sophistication and experience of KKR has
joined WPP in seeing what we see in our people, the work we do for clients and
our future is immensely motivating. We are grateful our clients and our
employees will be the beneficiaries."

 

Further information:

 

WPP

Richard Oldworth richard.oldworth@buchanancomms.co.uk
(mailto:richard.oldworth@buchanancomms.co.uk) +44 (0)7710 130 634

Chris Wade chris.wade@wpp.com (mailto:chris.wade@wpp.com)

Niken Wresniwiro niken.wresniwiro@wpp.com (mailto:niken.wresniwiro@wpp.com)

 

FGS Global

Dorothy Burwell / Brooke Gordon / Jennifer Loven / Dirk von Manikowsky

mediaglobal@fgsglobal.com (mailto:mediaglobal@fgsglobal.com)

 

KKR

Julia Leeger / Miles Radcliffe-Trenner

media@kkr.com (mailto:media@kkr.com)

 

 

About WPP

WPP is the creative transformation company. We use the power of creativity to
build better futures for our people, planet, clients and communities. For more
information, visit www.wpp.com (http://www.wpp.com) .

 

About KKR

KKR is a leading global investment firm that offers alternative asset
management as well as capital markets and insurance solutions. KKR aims to
generate attractive investment returns by following a patient and disciplined
investment approach, employing world-class people and supporting growth in its
portfolio companies and communities. KKR sponsors investment funds that invest
in private equity, credit and real assets and has strategic partners that
manage hedge funds. KKR's insurance subsidiaries offer retirement, life and
reinsurance products under the management of Global Atlantic Financial Group.
References to KKR's investments may include the activities of its sponsored
funds and insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com
(http://www.kkr.com)  and on Twitter @KKR_Co.

 

About FGS Global

FGS is a leading global strategic communications consultancy, with 1,300
experts around the world, advising clients in navigating complex situations
and reputational challenges. FGS Global was formed from the combination of
Finsbury, The Glover Park Group, Hering Schuppener and Sard Verbinnen & Co
to offer board-level and c-suite counsel in all aspects of strategic
communications - including corporate reputation, crisis management and
government affairs - and is also the leading force in financial communications
worldwide.

 

FGS offers seamless and integrated support with offices in the following
locations: Abu Dhabi, Amsterdam, Beijing, Berlin, Boston, Brussels, Chicago,
Dubai, Dublin, Düsseldorf, Frankfurt, Hong Kong, Houston, Kingston, London,
Los Angeles, Munich, Paris, Riyadh, San Francisco, Shanghai, Singapore, Tokyo,
Washington, D.C., West Palm Beach, and Zurich. The headquarters is based in
New York.

 

 

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