Jess Jones takes a look at why M&A activity in the PR sector is on the rise, and asks whether it will continue For the spinmeisters of public relations, advising clients on mergers and acquisitions is one thing, but managing their own company’s takeover is an entirely different challenge as many are discovering amid a rise in consolidation within the PR sector. Last month, London-listed government relations and lobbying group Public Policy Holding Company (PPHC) made headlines with its £30m acquisition of Pagefield – its first acquisition outside of the US, where the company is based. Oliver Foster, chief executive of Pagefield, said the deal marks its next phase of growth and “will open up a huge well of professional and international expertise to our clients”.
The takeover is part of an ongoing trend of consolidation in the sector. It can be traced back to 2020 when the UK’s largest public affairs agency, Cicero , joined AMO, a network of communications firms owned by Paris-based media giant Havas. In late 2021, FGS Global, founded by former Remain campaign chief Roland Rudd, merged with Sard Verbinnen and Co, before selling a 29 per cent stake to US private equity firm KKR a few months later.
But M&A activity in the industry really ramped up in 2023. Last year, PR and advisory giant Teneo bought London financial communications firm Tulchan for a reported £65m, SEC Newgate entered new ownership after Investcorp acquired a £100m majority stake, and US advisory f.
