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Comms outfit SEC Newgate latest flack shop to announce its own transaction

JAMES SILVER

ANOTHER of the City’s best-known PR firms –more used to announcing transactions than being a part of them –has become the subject of a multi-million pound deal.

Bahrain-headquartered Investcorp has taken a majority stake in SEC

Newgate for around $100m (£78.7m), valuing the PR outfit at $250m (£196.8m).

SEC Newgate grew out of the merger of Italian comms firm SEC and London-based Newgate, with the combined firm also encompassing fellow City flack-shops Newington and Redleaf.

SEC Newgate now has offices in more than twenty countries across five continents. It is the latest deal in the comms and PR space.

Earlier this year, CVC-owned giant Teneo bought Tulchan Communications in a deal worth around £65m.

And Roland Rudd-founded

Finsbury, which bought US comms firm Sard Verbinnen in 2021, then sold 29 per cent of its business to private equity outfit KKR in

April of this year.

SEC Newgate said the funding would help the firm with further geographic expansion “through acquisitions and greenfield developments”. The firm delisted from the stock exchange in March 2022, adding Three Hills Capital Partners as minority shareholders.

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