Friday, September 17, 2021
Finsbury Glover Hering is discussing a takeover of Sard Verbinnen & Co, a deal that would create a firm with more than 1,000 staffers and $350M in annual revenues.
Golden Gate Capital, which owns a 40 percent stake in Sard, would retain a five percent stake in the new company.
WPP, FGH’s parent, would own a little more than 50 percent of the company, while existing and future partners would own the balance.
The Financial Times reports the combined business would likely pursue an initial public offering in 2023.
George Sard and Paul Verbinnen, who were at Ogilvy Adams & Rinehart, launched their financial/strategic communications shop in 1992. It has more than 200 staffers.
Sard will become a co-chair of FGH/SVC, joining Roland Rudd, founder of Finsbury; and Carter Eskew, co-founder of Glover Park Group.
Verbinnen is expected to take on the co-CEO of North America post.