[ad_1]
International CEO advisory agency Teneo has introduced a deal to accumulate Tulchan Communications, an unbiased M&A, monetary and company communications consultancy based mostly in London, with a decade-long presence in Singapore.
Monetary particulars of the deal aren’t out there, though the FT is reporting a worth of greater than £65m. PRWeek understands there can be no job losses related to the acquisition, though Teneo and Tulchan will mix their workplaces in the end.
Tulchan’s senior leaders will be a part of Teneo’s Technique and Communications staff in London and Singapore, reporting to Nick Claydon (CEO of Teneo UK) and Lauren Chung (CEO of Teneo Technique & Communications Asia-Pacific) respectively.
Following the completion of the deal, Tulchan senior accomplice Andrew Grant will change into chair of Teneo’s UK Technique and Communications enterprise and Andrew Feldman, Tulchan’s managing accomplice, will change into vice chair. “They may work in partnership with Teneo’s broader built-in staff world wide throughout a number of enterprise segments together with Monetary Advisory, Administration Consulting, Threat Advisory and Folks Advisory,” Teneo stated in a press release.
The transfer marks a notable enlargement of Teneo’s UK and Singapore operations, including a workforce of about 80 within the UK plus an additional 10 in Singapore.
Tulchan, based by Grant in 2000, has been a mainstay of monetary comms for a number of years. In 2017, the consultancy represented Unilever throughout Kraft Heinz’s high-profile unsuccessful takeover try. Tulchan suggested Comcast on its $39bn acquisition of Sky in 2018.
Teneo’s worldwide footprint was seen as an enormous draw for Tulchan. A Tulchan supply instructed PRWeek the absence of a global community was “turning into a long-term strategic downside” for the agency.
The supply stated the acquisition will “create a very advertising main place in London, which can assist us compete”. It can additionally enable Tulchan to supply “a broader vary of companies to purchasers”.
Grant and Clayton beforehand labored collectively at Brunswick. Tulchan has additionally represented CVC Capital Companions, Teneo’s majority proprietor since 2019.
Paul Keary, Teneo CEO, stated: “Immediately marks a major milestone within the continued progress of Teneo. Andrew and the Tulchan staff are deeply skilled and extremely revered advisors who will assist develop the breadth and depth of our M&A and c-suite advisory in London, Singapore and world wide. Following this transaction, our staff will quantity over 1,600 professionals offering a variety of built-in consulting companies not discovered at every other advisory agency.”
Claydon stated: “In a world of fixed and unprecedented disruption, our purchasers need to us for knowledgeable counsel as they navigate complexity. Tulchan brings a extremely achieved staff with deep experience in shareholder and stakeholder communications that can strengthen our monetary and political supply, in addition to many long-standing shopper relationships.
“Collectively we are going to present purchasers with high-quality recommendation to deal with their vital monetary, societal and political challenges. The acquisition will strengthen our capabilities in London as a full-service advisory agency that meets our purchasers’ wants. We sit up for welcoming our new colleagues into the agency.”
Grant stated: “For greater than 22 years, we’ve got labored arduous to construct Tulchan into an advisory agency that each served the wants of our purchasers and of which we could possibly be proud. I want to thank all of my colleagues, previous and current, and all the purchasers, and their advisors, for whom we’ve got acted for his or her assist and confidence.
“In that point the setting during which corporations function has modified past recognition, and so has the form and scale of our business. We all know that our purchasers are more and more looking for a broader vary of communication experience, in addition to worldwide illustration. Combining Tulchan with Teneo’s platform, each in London and internationally, will rework the experience we are able to deliver to our purchasers, in addition to supply excellent new alternatives for our colleagues. We’re wanting ahead to becoming a member of the Teneo staff, working with our new colleagues and persevering with to earn the respect and belief of purchasers now and into the long run.”
Tulchan, which had been rumoured to be available on the market for a while, would be the newest in a collection of acquisitions for Teneo, which lately has been selecting up components of the restructuring operations of KPMG and Deloitte. In 2021, Teneo snapped up Societer, the French agency specializing in sustainable management.
The group, which payments itself as a c-suite company advisory specialist, has additionally been including to its senior management staff lately. Final week, Teneo introduced the appointment of Geoff Morrell – previously of Walt Disney and BP – as president of worldwide technique and communications, a brand new position.
The acquisition is ready to be the most important M&A deal within the sector since that of Sard Verbinnen by WPP company and monetary big Finsbury Glover Hering in 2021.
This report relies on an earlier article that ran in PRWeek UK.
[ad_2]
Source link