Finsbury Glover, Sard Verbinnen To Merge; Financial Terms Undisclosed
Finsbury Glover Hering, a global public affairs consultancy, and Sard Verbinnen & Co, a strategic communications firm, on Wednesday jointly announced their merger to create a strategic communications company. Financial terms of the transaction were not disclosed.
The merger is expected to be complete in the last quarter of 2021 and the combined company will operate under a new name starting next year.
“Equity in the new company will be owned by nearly 40 percent of the firm’s employees. WPP will remain the majority investor. Golden Gate Capital, which is a significant minority investor in SVC, will convert its equity in SVC and remain an investor in the new firm,” the companies said in a statement.
Pro forma combined 2020 revenue was over $330 million, the American companies added.
The new combined firm will have approximately 1,000 professionals operating from 25 offices in Asia, Europe, the Middle East and the U.S., including its global headquarters in New York.
The new company is expected to handle strategic communications, including government affairs, corporate reputation, and crisis management. It also aims to work as financial communications firm, with strong experience and expertise in M&A, private equity, IPOs, SPAC transactions, shareholder activism, and restructurings.
Senior professionals from Finsbury Glover Hering and SVC will lead the new company. George Sard will join Roland Rudd and Carter Eskew as Co-Chairmen, the companies noted.
Alexander Geiser is expected to serve as Global CEO; Mike Feldman and Paul Verbinnen as Co-Chairs of North America; Andrew Cole as Deputy Global CEO as well as Co-CEO of North America.
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