WPP and KKR form a strategic partnership in FGS Global

This partnership will help to drive the continued growth of the consultancy, the innovation of its service offering and the expansion of its international footprint in the resilient and growing strategic advisory sector.

WPP today announces that global investment firm KKR has made a growth investment in FGS Global, the strategic advisory and communications consultancy in which the former 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 strategic communications and public affairs firms Finsbury, The Glover Park Group, Hering Schuppener and Sard Verbinnen & Co. 

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 the consultancy 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. 

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This partnership will help to drive the continued growth of the consultancy, 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 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.”