• by Steve McClellan  @mp_mcclellan, April 11, 2023

WPP confirmed today global investment firm KKR has made an investment in FGS Global, the strategic advisory and communications consultancy. 

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

WPP didn’t disclose KKR’s stake but estimates last week, when news of the impending deal first broke, put it at about 30%.  

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.

FGS Global has 1,300 experts around the world in 27 offices.  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.

Last year the firm advised on 322 deals with a total value of over $657 billion in 2022. Its advisory services span corporate reputation, crisis management and government affairs.

WPP CEO Mark Read stated, “We are delighted to welcome KKR as a new strategic partner in FGS Global, in a transaction that recognizes the tremendous value of the business and its potential for continued strong growth.”