- WPP will remain the majority owner of FGS, and FGS’ employees will remain substantial shareholders
- Golden Gate Capital to exit its investment via the sale of its interest to KKR
- KKR is a global investment firm based in New York
KKR will make a growth investment in FGS Global, a global strategic advisory and communications consultancy.
FGS Global is headquartered in New York. The deal values the firm at $1.425 billion (€1.31 billion).
WPP will remain the majority owner of the company, and FGS Global employees will remain substantial shareholders, according to a release.
KKR’s investment in FGS will help in the expansion of FGS’ international footprint. KKR will make the investment primarily through its European Fund VI.
“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,” said Philipp Freise, partner at KKR.
The transaction is expected to close before the end of the third quarter of 2023, subject to regulatory approvals.
Golden Gate Capital, a shareholder in FGS Global since 2016, will exit its investment via the sale of its interest to KKR, the release added.
Golden Gate is a private equity firm based in San Francisco.
WPP is a public relations company based in London.
KKR, based in New York, is a global investment firm that offers alternative asset management as well as capital markets and insurance services.