APCO Worldwide Renews Commitment to Independence, Building a Firm for the Future
New investment capital gives APCO opportunity to grow, continue first-rate client service and innovate for the future.
WASHINGTON, D.C. – APCO Worldwide, the world’s largest women and employee-owned global communication consultancy, has reaffirmed its commitment to independence and innovation through the acquisition of new capital, announced Founder and Executive Chairman, Margery Kraus.
APCO will retain its independence through a buyout of previous minority shareholders with the support of Citibank and Monroe Capital. The arrangement will also provide potential for additional capital, which APCO can use for growth, acquisition and continued innovation to meet the changing demands of the marketplace and to better service clients.
“APCO has never been conventional in our growth or our approach. That difference has enabled us to be a leading provider for our clients and to be identified continuously as a great place to work by our employees,” said Kraus. “We believe this step provides us an opportunity to build on this great legacy at a time of great disruption in the market which requires innovation, bold thinking and the ability to operate without the constraints of a large bureaucracy. That boldness is in our DNA, and it is what makes APCO a special place for our clients and our employees. This announcement is another step in our unique story, and an exciting opportunity to continue to build a first-rate firm for the future.”
The new injection of resources will allow APCO, named the Public Affairs Agency of the Year in 2017 by The Holmes Report, to continue its growth and its celebrated service to clients.
“Dedicated service to our clients and an ability to help them thrive in an increasingly complicated world is core to APCO’s mission and values,” said APCO CEO, Brad Staples. “Our reaffirmed independence will allow us to take our work for clients to the next level, foster a thriving culture of ideas and innovation and ensure deep, meaningful partnerships for years to come and according to our own priorities.”
APCO secured its independence in 2004 after more than a decade as an affiliate of Grey Global Group. Since its inception in 1984, it has grown from a small one-office firm to a diverse global consultancy servicing high-profile clients in more than 80 markets around the world. APCO’s revenue has more than doubled since obtaining its independence in 2004.
This financing is supported through relationships with Citibank and Monroe.
“We are proud to have been selected by APCO as their partner for this next phase of growth along with Citibank,” said Ted Koenig, the founder and CEO of Monroe Capital. “We are excited by the potential of what we believe is a premier firm that is truly making a difference for the clients they serve. We look forward to helping APCO identify growth opportunities, including potential acquisitions for the future. It is especially gratifying to support a successful business that is majority women-owned, which is one of our priority areas for investment capital.”
Elizabeth Perricone, Citi’s Managing Director and head of U.S. Middle Market Banking said, “Citi has been APCO’s global financial advisor for more than a decade. We have encouraged APCO’s growth and are glad to participate in this next, important step.”
APCO was advised in the transactions by investment bank Petsky Prunier as well as law firms Gibson Dunn and Godfrey Kahn.