Registered investment advisory company The Stagwell Group has made a minority investment of undisclosed amount in New York City-based communications agency Finn Partners.
In conjunction with the investment, Stagwell Group’s Managing Partner Mark Penn will join Peter Finn on the board.
The agency intends to use the funds to grow operations.
Launched in December 2011 by Peter Finn, Finn Partners is a communications agency that specializes in the full spectrum of marketing, public relations and public affairs services, including digital and social media. Practice areas include arts, consumer, CSR and social impact, education, financial services, health, technology and travel & lifestyle. The company has approximately 550 employees, 13 offices around the world and offers international capabilities through its own global network and PROI Worldwide.
In addition to the investment, Stagwell and Finn will create a new jointly-owned public relations agency, Wye Communications, which will draw on the experience of the Stagwell Group’s and Finn Partners’ combined 1350+ professionals around the world to provide innovative services for Stagwell clients and serve conflicts for Finn Partners. Wye will be headquartered in the US and serve clients globally and Stagwell will have a controlling interest in the firm.
Led by Mark Penn, the Stagwell Group is a registered investment advisory company who serves as the Managing Partner of Stagwell Media LLC, a private equity fund. The Stagwell Group includes PMX Agency, an integrated performance-driven global marketing firm, creative digital firm Code and Theory, strategic communications firm SKDKnickerbocker and entertainment research firm National Research Group (NRG). The fund previously announced it has raised $250m in capital and may leverage that to make up to $750m in acquisitions.
FinSMEs
22/09/2016