Investcorp says acquires stake in US PR firm ICR
ICR senior team to retain significant majority stake in the company under the deal.
Investcorp, the Bahrain-based alternative investment firm with $21.3 billion in assets under management, acquired a minority stake in strategic communications and advisory firm ICR for an undisclosed sum.
Under the deal, ICR’s senior team will retain a significant ownership stake in the company, the company said in a statement on Saturday. The new partnership will focus on accelerating ICR’s growth through acquisitions and global expansion, Investcorp said.
“With its deep industry knowledge… and differentiated pairing of capital markets and communications professionals, ICR truly understands how communications strategies align with business goals and how those tie back to the value of the enterprise,” said David Tayeh, head of corporate investment North America at Investcorp.
Bahrain-listed Investcorp was founded in 1982. Since its inception, it has made over 170 corporate investments in the US, Europe and the Middle East and North Africa – including Turkey – across a range of industry sectors. It has also made more than 450 commercial and residential real estate investments in the US, exceeding a total investment value of $55bn.
US-headquartered ICR specialises in investor relations, public relations, crisis and special situations communications, digital media, and capital advisory. It has 186 staff and works with more than 550 clients across its five offices in the US and China.