PPHC Acquires Florida Government Relations Firm

PPHC (NASDAQ: PPHC) (AIM: PPHC.L), a leading global strategic communications provider, today announced that it has acquired The Advocacy Partners (“TAP”, the “Acquisition”, or the “Firm”), one of Florida’s pre-eminent government relations firms. The Acquisition is immediately earnings accretive. Founded more than two decades ago, The Advocacy Partners has built one of the deepest bipartisan relationship networks in Tallahassee and a recurring, blue-chip client base spanning many of the most regulated sectors of the U.S. economy.

Acquisition Highlights

  • The Advocacy Partners advises a blue-chip roster of corporates, trade associations and institutional clients on legislative, regulatory, procurement and executive-branch matters across the State of Florida.
  • Immediately earnings-accretive acquisition that establishes PPHC’s position in Florida, one of the fastest growing U.S. states, the fourth largest state economy in the U.S., and an economy that, if measured as a sovereign nation, would rank among the top 15 globally.
  • Significantly builds on PPHC’s coast-to-coast, market-leading state lobbying network purpose-built for a policy and communications environment in which critical decisions are increasingly moving from Washington to the state level.
  • Backed by a track record of consistent revenue growth, sector expansion, and high client retention over more than two decades, underscoring the durability of the franchise and the strength of the relationships on which it is built.
  • Slater Bayliss and Stephen Shiver will continue to lead TAP, which will retain its brand, its full team of professionals, and the operating culture that has defined its success.

Strategic Rationale

The Acquisition continues the execution of PPHC’s long-stated M&A strategy of bringing together and growing a portfolio of complementary, highly profitable businesses through two clear lenses: enhancing capability and targeting key geographies. TAP satisfies both criteria in a single transaction, adding a highly respected, premium-margin Florida government relations practice that fills a strategically significant gap in the Group’s U.S. state footprint.

Strategically, the Acquisition extends the thesis that drove PPHC’s investments in California and Texas: establishing deep, durable presences in the states whose economies and policy agendas set the tone for the rest of the U.S. The addition gives PPHC market-leading positions across three of the largest, fastest-growing and most policy-active state markets in the US. Together with
the comprehensive national state-level coverage provided by PPHC Member Company MultiState, this creates a state-based government affairs footprint unmatched in the industry.

The addition of TAP also deepens the Group’s integrated federal-and-state offering. PPHC’s clients increasingly engage the Group to advise at the federal level on legislation, regulation and agency action that requires substantial downstream work at the state level: implementation, appropriations, regulatory rule-makings, procurement and stakeholder engagement. TAP will work hand-in-hand with PPHC’s federal and award-winning Corporate Communications and Public Affairs teams to deliver this downstream work in Florida, creating a recurring cross-sell opportunity for the Group.

TAP was co-founded by Slater Bayliss and Stephen Shiver. Bayliss, a two-decade veteran of Florida politics and public policy, served in the Administration of Governor Jeb Bush and has been recognized by INFLUENCE magazine as one of the most influential people in Florida politics and by The Florida Standard as one of Florida’s top 10 lobbyists. Shiver has more than 20 years of experience in politics and public policy and has served directly and indirectly for numerous current and former members of the Florida Legislature, including many who hold leadership positions today.

TAP’s market position is highly differentiated. It is consistently ranked among the most influential government relations practices in Tallahassee, with principals who have direct senior-level policymaking experience, a bipartisan team of practitioners with deep expertise across the Legislature, the Governor’s office and state agencies, and a track record of consistent revenue growth and high client retention over more than two decades.

Stewart Hall, CEO of PPHC, commented:

“Led by two founders who built a high-margin business serving a blue-chip client base in one of America’s most important policy markets, we are very excited to welcome The Advocacy Partners to PPHC. What excites us most is the people, the relationships, and the opportunities it creates.

Slater, Stephen, and their team have spent more than two decades building one of the most trusted, senior and respected practices in Florida, and a firm whose clients stay because the counsel is consistently exceptional. For our clients, this Acquisition unlocks integrated, senior-level advocacy in a state that increasingly drives national policy debates. Combined with our other U.S. State Government Relations assets nationally, this gives clients a coast-to-coast state government affairs offering that no other can match.”

Slater Bayliss, Co-Founder, The Advocacy Partners, commented:

“For more than two decades, we have built The Advocacy Partners around the conviction that great government relations work begins and ends with people. The team you put in front of clients and the trusted relationships those professionals carry into the rooms that matter. PPHC shares that conviction. Joining the Group allows us to keep doing what we do best for our clients while adding the breadth of a federal team, a national sector practice and an international network that materially expands what we can deliver. We are excited about the opportunities this creates for our colleagues, for our clients and for the next generation of leaders we are building at the Firm.”

Stephen Shiver, Co-Founder, The Advocacy Partners, added:

“Over the years, we have had conversations with a number of organizations, but the people at PPHC made this opportunity stand out. We share a core belief that relationships matter, culture matters, and reputation is earned over decades, not transactions. We are joining an organization that appreciates the foundation that has made TAP successful and wants to build on it.”

FTP Launches AI Initiative

FTP Advocacy Intelligence Provides Advanced Message Testing and Legislative Monitoring Tools That Leverage the Firm’s Policy, Politics, and Public Affairs Expertise

WASHINGTON, D.C. — FTP, a leading bipartisan public affairs and government relations firm, unveiled FTP Advocacy Intelligence (FTP AI), the organization’s newest initiative, focused on developing AI-enabled solutions that help clients stay ahead of the policy curve.

“FTP Advocacy Intelligence is a force multiplier,” said Robert Mathias, Managing Partner at FTP. “It enables our seasoned practitioners to keep even closer tabs on critical legislation, deliver sharp and strategic policy insights, and test high-impact messaging and narratives in real time – a tremendous boon to any organization in every industry.”

FTP AI’s initial projects include:

  • 2026 Election Dashboard – A real-time polling, prediction market, and candidate fundraising tracker that captures data from every major U.S. House and Senate race, all in one easy-to-use platform.
  • Artificial Intelligence Dashboard Edge (AIDE) – An AI-fueled policy dashboard that mitigates information overload by organizing daily deluges of bills, hearings, news, and market-moving events into clear, focused intelligence. AIDE provides clients with a custom interface tailored to specific issue areas, keeping policy teams sharp and informed.
  • Synthetic Created and ai-Optimized Respondent Ecosystem (SCORE) – Custom synthetic audiences to help clients better understand how different stakeholders respond to crisis events messages, test campaign strategies, and seek a better understanding of issues, audience beliefs, and behaviors. The real-time approach pairs advanced audience models with our deep experience in advocacy, policy, and public affairs to pressure test narratives, refine language, and anticipate problems and opportunities before campaigns go live.

FTP Advocacy Intelligence augments the firm’s long-running data and insights offerings, including Beltway Social, a proprietary listening and analysis tool that cuts through the clutter of social media and news conversations to provide clients with a clear picture of emerging issues in key markets. FTP plans to launch a custom Beltway Social report on data centers soon.

FTP recently launched a new website that offers a one-stop shop for FTP Advocacy Intelligence, Beltway Social, and the firm’s other tools and resources. Learn more at ftpadvocacy.com.

LPA Adds Digital Strategy Leader Sallie Poggi as Vice President

SACRAMENTO – Lucas Public Affairs (LPA), one of Sacramento’s most respected public affairs firms, announced the addition of Sallie Poggi to the leadership team as Vice President. Poggi joins LPA with over two decades of strategic communications experience spanning higher education, brand positioning, corporate communication and crisis management. In this role, Poggi will lead the firm’s digital strategy practice and will take senior responsibility for the firm’s market positioning and thought leadership. 
 
Poggi’s hire reflects LPA’s commitment to expanding its strategic capabilities at a moment when digital fluency and an understanding of cultural forces shaping public opinion have become essential to winning on policy and issues. Poggi’s unique combination of senior level media instincts and honed expertise in emerging platforms, creative content and audience insights adds depth to LPA’s capabilities to reach constituents in new and influential ways.

 “LPA is known for our deep relationships and traditional media savvy,” said Donna Lucas, CEO and Founder. “The addition of Sallie to our bench of strategists ensures that LPA is thoughtfully growing to meet our clients’ new and complex communications challenges with creativity and deep understanding of the digital landscape.”

Poggi was a trailblazer in social media strategy before it was a recognized discipline in public affairs — drawn to the platforms not because they were trendy, but because she was genuinely curious about how people form opinions, build communities and shape influence online. Her fascination with human behavior in digital spaces became the foundation of a practice that has since informed work for global executives, major commercial brands and for issues facing California’s most complex stakeholder groups.

Her work has spanned brand strategy, executive positioning, extensive crisis communications response and audience insight work across complex stakeholder environments. Most recently, Poggi served as Chief Communications Officer at the University of the Pacific. She also served as Executive Director of Strategic Communications at the University of California, Davis, where she directed communications strategy during periods of institutional change and led the university’s brand and leadership digital and social media presence to national recognition. Prior to UC Davis, Poggi worked at APCO Worldwide and at FleishmanHillard, two of the world’s leading strategic communications firms, building digital strategies for California businesses and Fortune 500 companies.

“I’ve spent two decades watching and learning from Sallie as she is both student and master of the digital landscape and how audiences respond and behave,” said Cassandra Pye, President of LPA. “This blend of LPA’s proven strategic capabilities with new age know-how positions us well to provide our clients with thoughtful and effective strategies.” 

PPHC Strengthens Public Affairs Offering with Hire of Managing Director and Content Specialist

WASHINGTON, July 14, 2026 (GLOBE NEWSWIRE) — PPHC (“the Company”) (NASDAQ: PPHC), a leading global strategic communications provider offering a comprehensive range of advisory services in the areas of Government Relations, Public Affairs and Corporate Communications, today announced that Seven Letter, a PPHC member company, has strengthened its New England and Washington, D.C. public affairs offering with the addition of Greg Honan as Managing Director in the firm’s Boston office and Esther Lynch as Content Specialist in Washington, D.C.

The appointments come as Seven Letter, PPHC’s strategic communications agency with a specialty in bipartisan public affairs, approaches its 20th anniversary and continues to invest in senior talent. Honan’s combination of local government communications experience and service in the federal government — from Boston City Hall to the White House — supports both the firm’s growing Boston client base and its Washington, D.C. public affairs practice.

Honan brings more than a decade of experience in politics, communications and media to Seven Letter. Deeply rooted in New England, he began his career at the Harvard Kennedy School advising the late David Gergen, former CNN Senior Political Analyst and Professor of Public Service. He went on to serve as Director of Message Planning and Special Assistant to the President at the White House, where he coordinated communications planning for events, trips and interviews for President Joe Biden, and as Chief of Staff to the White House Communications Director. He most recently served as Deputy Chief of Communications for the City of Boston, advising Mayor Michelle Wu and leading her communications, press, digital and speechwriting teams. Greg Honan will work out of Seven Letter’s Boston, MA office.

Before his time in government, Honan served as Communications Director at With Honor Action and worked on the 2020 Democratic National Convention and the 2021 Presidential Inaugural Committee. He holds a B.A. in Political Science from Elon University and a master’s degree in public policy from the Harvard Kennedy School, where he was a John C. Culver Scholar and Belfer International and Global Affairs Student Fellow.

“More than ever, clients are looking for counselors who bring extensive experience to the table and who have been in rooms when decisions are made. Greg’s work with Mayor Wu and his experience at the highest level of national politics is already benefiting our clients, and we are pleased to have him as part of our growing Boston practice and presence in New England,” said Drew O’Brien, Partner at Seven Letter.

Lynch joins Seven Letter as a Content Specialist in the Washington, D.C. office, bringing experience across three continents. She has supported workforce access policy at Enable UK in Scotland, researched corporate social responsibility and human rights risk at the Mekong Club in Hong Kong, and contributed to ESG strategy at The Estée Lauder Companies. She joins Seven Letter after completing two semesters of the firm’s fellowship program. Lynch holds a degree in Political Science and Global Affairs from the University of Notre Dame and speaks English and French natively, with intermediate proficiency in Chinese.

“Greg and Esther represent exactly the kind of talent that keeps Seven Letter moving forward. Greg Honan brings deep experience at the highest levels of government communications, and Esther Lynch has already proven herself around the world and in our competitive fellowship program. We are pleased to welcome them both to the team,” said Erik Smith, CEO and founding partner of Seven Letter.

“Our continued investment in senior talent reflects the strength of Seven Letter and their focus on client service. Appointments of this caliber deepen the expertise available to clients across the Group,” said Stewart Hall, CEO of PPHC.

About Seven Letter

Seven Letter, a PPHC company, specializes in bipartisan public affairs, corporate communications, crisis management, message development and digital engagement, with offices in Washington, D.C., Boston, New York and Los Angeles. Seven Letter Labs combines technology-enabled audience targeting and award-winning creative content to shape reputation, market position and public policy among elite audiences. Seven Letter Insight, the firm’s in-house team of data scientists, blends the art and science of communication through qualitative and quantitative strategies to understand consumer intelligence and create and refine compelling narratives and persuasive messages. Seven Letter has been named to the PR News Agency Elite for the last five consecutive years and is a multi-year PR News “Top Places to Work” and PRWeek “Best Place to Work” award winner.

PPHC Announces Acquisition of Tancredi

PPHC, TrailRunner International expands international footprint for financial, corporate and litigation communications in EMEA

WASHINGTON, July 01, 2026 (GLOBE NEWSWIRE) — Public Policy Holding Company, Inc.  (NASDAQ: PPHC), a leading global strategic communications provider, today announced that it has acquired Tancredi Intelligent Communication Ltd (“Tancredi”), a strategic communications and advisory firm headquartered in London. Tancredi will operate going forward as a part of PPHC’s TrailRunner International (“TrailRunner International”) group.

Acquisition Highlights

  • Founded in 2015, Tancredi advises corporates, financial institutions and high-profile individuals on corporate affairs, financial communications, crisis, reputation management and litigation communications.
  • Earnings-accretive acquisition deepens critical expertise in high-growth crisis and litigation communications services, corporate communications and M&A while strengthening TrailRunner International’s existing London presence and expanding its geographic reach via offices in Milan and Los Angeles.
  • Tancredi’s go-forward branding to be ‘Tancredi, a TrailRunner International group company’.
  • Tancredi co-founder Salamander Davoudi to be named Global Head of Litigation for TrailRunner International.
  • Tancredi CEO Giovanni Sanfelice di Monteforte brings deep expertise in the Italian corporate, financial and institutional market, acting as a trusted local advisor to international investors and a global partner to Italy’s leading conglomerates.
  • Adds a team of 22 colleagues and a strong roster of high-profile international clients across all major sectors from financial services and industrials to energy, life sciences and luxury retail.
  • For the year ended 31 December 2025, Tancredi recorded (unaudited) net revenues of £4.3 million. (Unaudited) profit before tax amounted to £1.3 million, after adjusting for PPHC’s remuneration policy.

Strategic Rationale

The Acquisition expands PPHC’s capabilities across the large and growing strategic communications market, through a firm whose disciplines map directly onto those of TrailRunner International, PPHC’s corporate and financial communications platform which it acquired in 2025. Tancredi joins as the first member of the TrailRunner International group, creating a seamless fit and expanding the European footprint of the Group via complementary services, a shared advisory culture, and a single, broader offering that PPHC’s c.1,500 existing clients can access through clear and immediate cross-selling and integrated servicing.

The Acquisition is in line with PPHC’s longstanding objective to build, bring together and grow a portfolio of complementary businesses with premium strategic communications and advisory capabilities to help clients navigate their most challenging issues, from deal-making to policy risks and reputation. It supports PPHC’s long-stated M&A strategy by significantly expanding its specialist capabilities and broadening its geographic reach. 

Through its co-founder and CEO Giovanni Sanfelice di Monteforte, Tancredi brings a leading position in the European financial and corporate communications sectors that augments the platform’s complementary global offerings. Tancredi has been a trusted advisor to institutional investors navigating Italy’s corporate landscape, acting across some of its largest transactions, and an equally trusted communications partner for European blue-chips operating globally.

Litigation communications, one of the fastest-growing areas of the strategic communications market, is a discipline in which Tancredi and TrailRunner hold deep, complementary expertise. Tancredi has advised corporates, financial institutions and high-profile individuals on litigation communications since its founding in 2015. Going forward, litigation advisory work will be unified under Tancredi co-founder Salamander Davoudi, who has been named Global Head of Litigation for TrailRunner International. 

The Acquisition also deepens the Group’s presence in London and across Europe. Tancredi gives TrailRunner International an enlarged London base and an established European platform from which to serve clients on both sides of the Atlantic. For PPHC’s c.1,500 clients, and for Tancredi’s own roster of high-profile international clients, the combination pairs Tancredi’s reach with the scale of the wider PPHC network, extending the transatlantic capability that underpins the Group’s long-stated growth strategy.  

Stewart Hall, CEO of PPHC, commented:

“This marks PPHC’s second acquisition since our Nasdaq IPO and progresses our strategy of accelerating growth through the earnings-accretive acquisitions of complementary businesses operating in high-growth markets.

“Tancredi has an outstanding track record and bolsters our existing expertise in key growth areas. It also expands our geographic footprint. As the first member of the TrailRunner International Group, our corporate and financial communications platform headed up by Executive Chairman Jim Wilkinson and CEO Jim Hughes, Tancredi now has access to a deeper pool of specialists and its expertise can be leveraged globally. Additionally, PPHC can unify its market-leading experience and scale in litigation, one of the fastest growing areas.

“Our acquisition pipeline remains strong with PPHC maintaining significant liquidity to deliver on our growth ambitions and create long term shareholder value.”

Giovanni Sanfelice di Monteforte, CEO and Co-Founder of Tancredi, commented:

“Joining TrailRunner International is the natural next step for a firm built on the conviction that the most complex corporate, financial and reputational briefs demand the highest caliber of advice. The entire Tancredi team will now be able to deliver a far broader range of services and a deeper perspective for boards, clients navigating complex, cross-border challenges. The cultural alignment between our two firms is incredibly strong and it allows us to retain what is special and boutique about Tancredi while giving us an exciting opportunity to play a major role in the PPHC growth story. Tancredi’s Italian roots now open doors in both directions, for international investors looking at Europe and Italy, and European companies expanding into the US.”

Salamander Davoudi, Managing Partner and Co-Founder of Tancredi, commented:

“Tancredi has always operated at the sharp end of corporate, financial, litigation and reputation communications, largely on the European side. As we join TrailRunner International and the stable of PPHC companies, we step in to help build the transatlantic powerhouse that will shape this sector for the next decade. For clients navigating Washington as much as London or Rome, the depth of the PPHC network fundamentally changes what we can offer them. We will maintain Tancredi’s brand, ethos and values and build on them. We have never been better positioned to do the work we do best.”

Jim Wilkinson, Executive Chairman of TrailRunner International, commented:

“This exciting acquisition will strengthen TrailRunner and allow us to immediately work as a seamless, efficient, and unified team. Tancredi has proven superstar global talent, a strong high-margin client roster, an entrepreneurial growth mindset, and a bench of future leaders. This acquisition represents the logical next step in TrailRunner’s methodical journey to create the world’s best advisory platform.”  

Jim Hughes, CEO of TrailRunner International, commented:

“As we continue to grow in markets around the world, we are excited to welcome Giovanni, Salamander and team to TrailRunner International. Together, we will build on our strong momentum in the UK, Europe, and other markets while doubling down on core practice areas like litigation support, financial communications, crisis communications, and corporate reputation.”

TrailRunner International Earns PRSA Award of Excellence

TrailRunner International (TRI) has been recognized with a PRSA Silver Anvil Award of Excellence for Integrated Communications in the Consumer Services category for its work with Charles Schwab on National Investing Day 2025.

Silver Anvil Awards celebrate the best strategic public relations campaigns of the year, as well as outstanding organizational excellence. This is TRI’s first year receiving the prestigious award from PRSA.

This recognition marks a meaningful milestone for the firm. Launched in May 2025, National Investing Day was Schwab’s inaugural campaign. In partnership with Schwab, Ruth Communications, and TRI’s internal team, the effort delivered an integrated campaign that resonated with audiences.

PPHC Announces Q1 2026 Financial Results

Strong Revenue Growth Demonstrating Success of Company Strategy

  • Revenue growth of 27.5% with organic revenue growth of 5.1% compared to Q1 2025
  • Completed significant talent additions, and announced an acquisition which closed in Q2 2026
  • PPHC added to Russell 2000® and Russell 3000® Indices as of March 23, 2026
  • Net Debt reduced to $1.8 million following U.S. IPO

Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA Incl. M&A expense, Adjusted net income, Adjusted EPS, fully diluted, Organic Revenue Growth and Adjusted Free Cash Flow, are non-GAAP financial measures, as defined and reconciled to the nearest related GAAP measure below.

Stewart Hall, CEO of PPHC, commented:

“PPHC delivered its strongest quarter to date for both revenue and Adjusted EBITDA, reflecting continued organic growth and the accelerating contribution from recent acquisitions. Our strategy remains focused on building a differentiated group of companies with complementary capabilities, expanded geographic reach, and strong intercompany synergies, while maintaining the financial flexibility to pursue additional M&A and strategic hires.

The U.S. listing has further increased PPHC’s visibility and strengthened our pipeline of opportunities, both for acquisitions and senior talent. In a complex political, regulatory, and reputational environment, clients are increasingly seeking integrated counsel across multiple spheres of influence, and we believe PPHC is uniquely positioned to meet that need. I want to thank our people across the Group for their continued commitment to our clients and to the long-term growth of PPHC.”

Roel Smits, CFO of PPHC, Commentary and Financial Guidance:

“With the completion of our January capital raise and U.S. IPO, PPHC has entered the next phase of growth from a position of strength. Our balance sheet flexibility allows us to pursue earnings-accretive acquisitions while our strong cashflow allows us to continue investing in organic growth initiatives. Momentum in Q4 and now also Q1 has set us up well for a successful 2026.

In general, PPHC expects to continue growing revenue at an average organic rate of approximately 5%, and that this will be supplemented by acquisitions. For 2026, we anticipate reported revenue in the range between $205 million and $209 million. While we continue to target Adjusted EBITDA at a margin around 25%, based on our current business mix and ambitions, in 2026 we will experience the impact from assuming U.S. public company costs and certain technology investments and therefore we anticipate Adjusted EBITDA in a range between $46 million and $48 million, reflecting an adjusted margin between 22% and 23%. The guidance above excludes the impact of any future acquisitions.

Our focus continues to be on driving client retention rates, new business generation, and the continued cross-selling of services across the member companies to support organic growth prospects, with each of these factors impacting our organic growth result.

The market for Strategic Communications services in key geographies remains fragmented. Management continues to view the Group as a natural consolidator, and the pipeline of acquisition opportunities under development in the U.S., U.K., and mainland Europe remains robust. The Group is actively seeking to expand its portfolio of member companies with strategically and financially attractive opportunities while adding complementary specializations.”

Operational Highlights

  • Significant progress in line with the Group’s stated growth strategy, with earnings accretive acquisitions providing an enhanced complementary range of services to the Group’s international client base:
    • Organically, the Group recorded 5.1% growth in revenue for Q1 2026 year-on-year which represents a step-up from the 4.7% growth in Q1 2025, attributable to increases across our three segments.
    • Announced the acquisition of WPI Strategy and made other significant hires across the group, expanding group-wide capabilities in Corporate Communications and providing cross-referral revenue opportunities.
    • Revenue remained diversified with the top 10 Group clients representing 8.0% of revenue in Q1 2026 versus 9.0% in Q1 2025; and revenue mix by segment was further diversified with the Corporate Communications & Public Affairs segment, our second largest reporting segment, growing to represent 36.5% of total revenue in Q1 2026 (Q1 2025: 25.5%).
    • The Group ended Q1 2026 with a client base of approximately 1,500, with representations of approximately a quarter of the Fortune 100 in addition to many more via trade associations, underlining that our retention rates remain high.

First Quarter 2026 Segment Results

  • Government Relations Consulting grew at 8.4% for Q1 2026, as compared to Q1 2025 as a consequence of continued organic growth of 5.2% in tandem with the acquisition of Pine Cove Strategies, LLC (“Pine Cove”) (2025 Q3). The margin of Segment Adjusted pre-bonus EBITDA remained relatively stable at 45.5%, reflecting the stable pricing of retainer contracts both at U.S. Federal and State level.
  • Corporate Communications & Public Affairs Consulting increased by 82.7% for Q1 2026, as compared to Q1 2025 as a consequence of continued strong organic growth of 3.3%, in tandem with the acquisition of TrailRunner International, LLC (“TrailRunner”) (2025 Q2). The margin of Segment Adjusted pre-bonus EBITDA increased significantly from 22.4% in Q1 2025 to 26.2% in Q1 2026, reflecting the operating leverage effects of realizing higher revenues, although still operating at margins that are lower than the Group’s average.
  • Compliance and Insights Services continued its strong growth at 10.8% for Q1 2026, as compared to Q1 2025 (reported and organic) as a result of high renewal rates, price increases, and new client wins, all together reflective of a unique and high value-added offering. The margin of Segment Adjusted pre-bonus EBITDA further improved to 50.2%, reflecting the strong pricing of subscription contracts in this area, in combination with the increased use of technology in servicing our clients.

The full press release is available on PPHC’s Investor Site.

PPHC Expands MultiState Associates’ Stakeholder Engagement Capabilities

WASHINGTON, May 01, 2026 (GLOBE NEWSWIRE) — Public Policy Holding Company, Inc. (“PPHC” or “the Company”) (NASDAQ: PPHC), a leading global strategic communications provider, today announced that MultiState, a PPHC subsidiary providing state-level government relations, has hired Lee Cowen and Nicholas Evans, specialists in federal, state, and local government relations, through the acquisition of the assets of their respective management companies Cowen Consulting, LLC and Putnam Strategies, LLC. 

The acqui-hire additions significantly expand MultiState’s stakeholder engagement practice, which works with political organizations including governors’ associations (NGA, RGA, DGA), attorney general groups (NAAG, RAGA, DAGA), and other state-level (political and policy) organizations. With the addition of Lee Cowen and Nicholas Evans, MultiState’s dedicated stakeholder engagement team continues its growth, complementing a broader group of MultiState staff who engage in stakeholder work across their portfolios.

MultiState established its stakeholder engagement practice over the past three years under the leadership of Maggie Mick, who previously served as Chief Advancement Officer at the Council of State Governments. The hiring of Lee Cowen and Nicholas Evans accelerates the growth of the practice and positions the firm to better serve large clients who require sophisticated multistate strategies.

Lee Cowen and Nicholas Evans bring an established client roster of major national companies and organizations. They have built trusted relationships over decades in state government affairs, and their clients represent strong candidates for MultiState’s broader suite of services, including issue management and lobbying compliance.

Stewart Hall, CEO of PPHC, commented:

“MultiState has built something unique and distinctive in the state government affairs market, and stakeholder engagement is a natural extension of that offering. Lee and Nicholas are highly experienced and well-regarded professionals with strong client relationships, and we see real opportunity to offer those clients the full breadth of MultiState’s and PPHC’s capabilities.”

Joe Crosby, CEO of MultiState Associates, commented:

“Lee and Nicholas are exactly the kind of people anyone would want on their team. They have been incredibly successful on their own yet recognize the additional value we collectively will bring to our clients. We’ve made significant investments in building our Stakeholder Engagement practice, guided by Maggie Mick and supported by our deeply experienced team — making this the perfect time for Lee and Nicholas to join us. Several of us have known Lee and Nicholas for decades; they are genuinely good people and extraordinary professionals who will accelerate our growth.”

Lee Cowen, Founder of Cowen Consulting, commented:

“Nicholas and I are thrilled to be joining MultiState and the entire PPHC family. We have known the MultiState folks for decades, and we’re excited to be able to enhance their stakeholder engagement practice while also being able to offer our current – and future – clients more of the complimentary services provided by MultiState and the PPHC team. With increased focus on the state policy front, we became convinced that a more comprehensive suite of services – such as issues management, compliance, research, etc. – is necessary for businesses and associations as they work with state governments to achieve their policy goals. For Nicholas and me, MultiState was the obvious choice when looking for the right teammates.”

About MultiState Associates

MultiState Associates is a PPHC subsidiary providing state-level government relations, issue management, regulatory tracking, and lobbying compliance services. MultiState helps companies and trade associations navigate the multistate policy landscape through a combination of strategic advisory, technology-enabled monitoring, and direct stakeholder engagement.

Concordant Launches Regulatory and Political Due Diligence Practice for Investors and Deal Teams

  • A purpose-built regulatory and political due diligence practice for the transaction community, delivering board-ready analysis for investors and deal teams evaluating transactions and market entry.
  • Provides a comprehensive, rigorous assessment of key regulatory, legislative, and political risks to valuation, closing, and long-term viability of transactions.
  • Backed by PPHC’s 11 specialized firms, providing access to one of the largest federal lobbying practices in Washington alongside the country’s broadest state-level government affairs coverage.
  • Led by Trevor Hanger, a capital markets and merger arbitrage veteran, and Max Mandich, a former House policy adviser.

WASHINGTON, April 29, 2026 (GLOBE NEWSWIRE) — Public Policy Holding Company, Inc. (“PPHC” or “the Company”) (Nasdaq: PPHC), a leading global strategic communications provider, today announced that its Concordant Advisory subsidiary is expanding into regulatory and political due diligence, delivering board-ready diligence reports for investors, deal teams, and corporates evaluating high-stakes transactions and market entry.

Concordant draws on PPHC’s depth of policy expertise – tapping more than 150 experienced policy experts and registered lobbyists, as well as the largest broker of state-level lobbying services in the country, with engagements and legislative tracking in all 50 U.S. states. Concordant provides deal teams with direct access to this expertise to deliver diligence reports that assess whether regulatory, legislative, or political risk could alter valuation assumptions, delay or prevent closing, or change the long-term viability of a business model. Engagements cover federal and state regulatory landscape analysis, stakeholder mapping, and actionable mitigation strategies.

The due diligence practice will be led by Trevor Hanger and Max Mandich, who bring complementary experience spanning capital markets, regulatory advisory, and policy analysis.

Trevor Hanger is a Partner at FTP, a PPHC member company, where he specializes in capital markets issues, alternative assets, and multi-sector transaction and portfolio company due diligence. Prior to joining FTP, Hanger served as COO and Director of Research at a boutique investment bank in Washington, D.C., where he managed the firm’s policy research, strategic consulting, and investment banking divisions and led teams advising institutional and private equity clients on corporate and investment strategy. He also has nearly a decade of experience as a merger arbitrage trader and Head of Policy on the buy side.

Max Mandich joins as Senior Director of Insights with extensive experience advising corporate and investor clients on U.S. policy and regulation within the financial services sector, including issues relevant to fintech and digital assets. He previously served as a senior associate at Global Counsel, where he analyzed US policy within the financial services sector for both corporate and investor clients. Prior to that, he served as a policy adviser to a Member of the US House of Representatives, handling financial services policy and economic issues.

Stewart Hall, CEO of PPHC commented:

“Our clients and their advisors have told us for years that they need a better way to underwrite political and regulatory risk in transactions. We believe PPHC has the deepest bench of policy expertise in the industry, and Concordant is how we put that expertise to work for the deal community. This is a focused, repeatable product backed by federal and state practitioners who are actively shaping the policy landscape our clients are trying to navigate.”

Trevor Hanger, Partner at FTP commented:

“Investors are making billion-dollar decisions with incomplete pictures of the regulatory landscape. Having spent years on the capital markets side advising institutional and private equity clients, I know what deal teams actually need — and it’s not a policy briefing, it’s an investment-grade assessment of current and future regulatory risk that they can take to their investment committee. That’s what Concordant delivers.”

Max Mandich, Senior Director of Concordant commented:

“The market for regulatory and political diligence is growing, and investors are increasingly looking for deeper insight. Concordant is built differently. When we staff an engagement, we’re not just sending researchers to read the public record. We’re bringing in the people who many times helped write the regulations, lobbied for the amendments, and understand the political environment. That is a fundamentally different product.”

Concordant Advisory is a subsidiary of PPHC. For more information, visit concordantadvisory.com.