KKR will acquire a majority equity position in strategic advisory and communications firm FGS Global as part of an agreement between the investment firm and WPP, a British multinational communications, advertising, public relations, technology, and commerce holding company. KKR’s agreement to acquire WPP’s full equity position values FGS at $1.7 billion.
The transaction will allow FGS to accelerate growth, attract and empower new talent, and further its leading position as a global advisor to boards and C-suites in business-critical situations.
KKR is making the investment in FGS primarily through its European Fund VI, an $8 billion fund that focuses on investing in the growth of leading businesses by providing access to KKR’s extensive network and business building resources. In April 2023, S&C advised FGS in a growth investment from KKR, which was also made through its European Fund VI.
The S&C team representing FGS on this transaction includes Melissa Sawyer, Matt Goodman, and John Karol. Isaac Wheeler, Ha Jin Lee and Andrew Thomson are advising on tax matters. Heather Coleman is advising on executive compensation matters. Mario Schollmeyer is advising on capital markets matters.