M&A Deal Summary

KKR Acquires FGS Global

On August 7, 2024, private equity firm KKR acquired business services company FGS Global from WPP

Acquisition Highlights
  • This is KKR’s 16th transaction in the Business Services sector.
  • This is KKR’s 207th transaction in the United States.
  • This is KKR’s 19th transaction in New York.

M&A Deal Summary

Date 2024-08-07
Target FGS Global
Sector Business Services
Buyer(s) KKR
Sellers(s) WPP
Deal Type Divestiture

Target

FGS Global

New York, New York, United States
FGS Global is a global strategic communications consultancy that advises clients in navigating complex situations and reputational challenges. FGS Global is headquartered in New York.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 480 of 483
Sector (Business Services) 16 of 17
Type (Divestiture) 53 of 53
State (New York) 19 of 19
Country (United States) 207 of 210
Year (2024) 15 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-24 Proserv

Aberdeen, United Kingdom

Proserv is a controls technology company incorporating two divisions, Proserv Controls, which encompasses our innovative subsea controls solutions, alongside our topside, IWOCS, sampling, and measurement offerings to the oil & gas and renewables markets, and Gilmore, a Proserv Company, known for its globally renowned control valves. Proserv is based in Aberdeen, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-26 Varsity Brands

Farmers Branch, Texas, United States

Varsity Brands provides goods and services to the school spirit industry. The company designs, markets, and manufactures cheerleading and dance team uniforms and accessories. It elevates the student experience, promotes participation, and celebrates achievement through three unique but interrelated businesses: BSN SPORTS; Varsity Spirit; and Herff Jones. Together, these businesses promote personal, school, and community pride through their customizable products and programs to elementary and middle schools, high schools, colleges and universities, church organizations, professional and collegiate sports teams, and corporations. Varsity Brands is based in Farmers Branch, Texas.

Buy -

Seller(S) 1

SELLER

WPP

London, United Kingdom

Category Company
Founded 1985
Sector Marketing
Employees104,000
Revenue 14.8B GBP (2023)
DESCRIPTION

WPP is a marketing communications services provider that offers a comprehensive range of advertising and marketing services including advertising & media investment management; data investment management; public relations & public affairs; branding & identity; healthcare communications; direct, digital, promotion & relationship marketing and specialist communications. WPP was founded in 1985 and is based in London, the United Kingdom.


DEAL STATS #
Overall 6 of 6
Sector (Business Services) 1 of 1
Type (Divestiture) 5 of 5
State (New York) 2 of 2
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-20 amp

Munich, Germany

amp is a sonic branding company through Sonic DNA that creates holistic sonic identities for global brands. Leveraging sound, voice, and music, the company builds authentic connections for brands across audible touchpoints. With a diverse portfolio of clients, including Mastercard, Mercedes-Benz, Deloitte, Zurich Insurance, Uber, Klarna, and Kraft Heinz, amp activates 360º sonic experiences and assets. From digital advertising to branded content and user experiences, its Sonic Hub Ecosystem uses AI-driven audio testing and voice technologies combined with implementation and research tools to deliver valuable audience insights and create sonic experiences for brands. amp is based in Munich.

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