Caisse de dépôt et placement du Québec (CDPQ), a global investment group, is to acquire a significant stake in ICR, a specialist in strategic communications and advisory services.
CDPQ will join with existing shareholders Investcorp, a leading global provider and manager of alternative investment products, and ICR team members, in order to continue the Company’s growth and expansion.
Founded in 1998 by a team of former Wall Street analysts, including Thomas M Ryan, ICR’s Chief Executive Officer, the Company has been one of the fastest growing agencies in the world over the past 20 years, establishing itself as a leading advisor to companies in need of communications and advisory support. Based on its unique industry focused model, ICR provides fully-integrated services across investor relations, public relations, transaction advisory, governance/ESG and digital branding.
“ICR has created a remarkable value proposition for companies and their leadership teams thanks to its unique portfolio of services, high–quality network and the distinctive profile of its client facing teams who possess deep industry and capital markets knowledge. This provides ICR a unique advantage to align strategic communications and transaction advisory among all stakeholders,” says Martin Laguerre, Executive Vice-President and Head of Private Equity and Capital Solutions at CDPQ. “CDPQ is excited to join forces with Investcorp and ICR’s team to further propel the Company’s growth.”
“ICR is a proven market-leader, well known for its differentiated coupling of capital markets and communications professionals to help effectively deliver on its clients’ goals of building and protecting their equity and brand value,” says David Tayeh, Head of Private Equity – North America at Investcorp. “We look forward to our continued partnership with ICR – and working alongside CDPQ – as we further expand the business to meet the growing needs of current and prospective clients.”
Investcorp invested in ICR in 2018 to focus on accelerating the Company’s organic growth, identifying complementary acquisitions and expanding the business globally.
Tom Ryan and Don Duffy, CEO and President of ICR, respectively, says: “We are pleased to partner with CDPQ and their team while leveraging our existing relationship with Investcorp. These two formidable investor groups, which between them have helped hundreds of businesses grow and create value on a global scale, will position our incredible team members for long-term success while further cementing ICR as the agency of choice for private and publicly traded companies around the world.”
Jefferies LLC served as lead financial advisor, while William Blair also served as financial advisor for Investcorp and ICR. White & Case acted as company counsel. Credit Suisse served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel for CDPQ.
The transaction remains subject to customary regulatory approvals.
