Manama: Investcorp, a leading global alternative investment firm, has signed a definitive agreement to invest c.$100 million for acquiring a majority stake in SEC Newgate, a global strategic communications and advocacy group. The transaction values SEC Newgate in excess of $250 million.
SEC Newgate’s other shareholders will roll over c.100% of their equity investment as part of the transaction. The transaction remains subject to customary regulatory and other closing conditions.
Investcorp’s investment will help SEC Newgate accelerate its development strategy, with a focus on expansion in EMEA and the APAC region through both organic growth and M&A. Since its delisting from the London Stock Exchange in March 2022, SEC Newgate has grown rapidly and expanded in the U.S. and Central and South America through transformational acquisitions. As part of this transaction, Nicola Ferraris, Investcorp Managing Director, will join the Board of SEC Newgate.
“SEC Newgate aligns with our investment approach to back strong, committed management teams operating differentiated businesses in growing sectors. We will use our resources to support SEC Newgate’s geographic expansion, growth through acquisitions and greenfield developments. We are excited to back SEC Newgate in the next phase of its growth journey and look forward to working with SEC Newgate CEO Fiorenzo Tagliabue and his team to bring to fruition many of the exciting opportunities that lie ahead,” Yusef Al Yusef, Head of Investcorp Private Wealth, said.
“We are thrilled to partner with Investcorp on this next chapter of growth given their significant expertise and track record of helping professional services businesses grow and expand internationally. Investcorp’s investment will accelerate our transformation and fuel our development strategy to achieve global leadership in corporate communications and public affairs,” Fiorenzo Tagliabue, who will remain CEO of SEC Newgate, said.
Investcorp has a long history of investing in and supporting people-based professional services and communications businesses, with notable investments including management consultants AlixPartners, strategic communications advisor ICR, workforce management pioneer PRO Unlimited (now Magnit), technology consulting firm Resultant, talent and entertainment company United Talent Agency, and business advisory firm CrossCountry.
The transaction is expected to close between the third and fourth quarter of 2023.
