Author: ally

Alpine Group Names Keenan Austin Reed New CEO

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Reed Succeeds Les Spivey Who Takes New Role as Alpine’s President

Washington, D.C. – The Alpine Group, a premier bipartisan, bicameral government affairs firm, announced today that Keenan Austin Reed will be the firm’s new Chief Executive Officer.

Effective January 1, 2025, Reed will succeed Les Spivey, who has served as CEO and Managing Principal for over five years and will transition to a new role as President, focusing on business development and strengthening relationships with existing clients.

The transition aligns with the Alpine Group’s commitment to fostering leadership that reflects the dynamic and diverse nature of the policy landscape. With Reed at the forefront, the firm is poised to continue its legacy of excellence, innovation, and impact in government affairs. Reed brings a wealth of experience and a track record of transformational leadership. As a top congressional and campaign veteran, seasoned lobbyist, and civic leader, she has proven to be a tenacious advocate in service to the Alpine Group’s clients and has made her mark by rapidly expanding its roster since joining the Group in 2021. Her innovative approach and strategic mindset have earned her recognition as one of the most influential voices in Washington by multiple industry groups.

Spivey expressed his confidence in Reed’s leadership, stating:

“Keenan is a dynamic and visionary leader who understands the intricacies of policymaking and the importance of building relationships on both sides of the aisle. I am thrilled to see her take the helm and lead the Alpine Group toward new horizons.”

Stewart Hall, CEO of Alpine’s parent company, PPHC, added:

“Keenan’s appointment as CEO marks a pivotal moment for the Alpine Group and PPHC. She has deep expertise, unerring strategic vision, and an unwavering commitment to client service. I am confident that under her leadership, the Alpine Group will continue to excel and deliver impactful results for its clients.”

Spivey joined the Alpine Group eighteen years ago after having served on staff of the Senate Appropriations Committee for three different Chairmen. Under Spivey’s stewardship, the Alpine Group has developed into one of the largest and most influential lobbying firms in Washington.


“I am deeply honored to take on this new role and build upon the strong foundation that Les has established here at Alpine,” said Reed. “I look forward to leading Alpine into its next chapter, advancing our mission to provide unparalleled service and advocacy for our clients. We will meet these goals while also continuing to foster an inclusive environment that reflects the full diversity of the communities we serve.“

READ: Forbes Tate Partner Doug Usher’s op-ed featured in The Hill

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2024 has been an ‘unprecedented’ election, but the polls are telling us another story

The campaign sprint to Election Day has begun, and as always, an inordinate amount of attention is on public polling. Those polls are telling us the real story of the campaign so far — but are we willing to listen? 

Read the full article in The Hill.

PRWeek: Three agencies on PRWeek UK’s radar this week

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PRWeek spotlights agencies with a story to tell from the past seven days that we think are worth keeping an eye on.

Pagefield

Pagefield feels like an agency to watch these days. Fresh from its acquisition this summer by PPHC, the US government relations and public affairs holding company, the London firm last week announced a trio of senior appointments.

Read the full story from PRWeek.

PPHC Announces Interim Results for the First Half of 2024

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Strategic execution delivers positive financial and operational progress; full year expectations affirmed

Public Policy Holding Company, Inc., the leading government relations and public affairs group of companies providing a comprehensive range of advisory services, today announces its unaudited interim results for the six months ended 30 June 2024 (“H1 2024” or the “Period”).

Financial Highlights

  • H1 revenue increased 8% to $71.1m (H1 2023: $65.7m), with organic growth contributing 1.2% and the balance driven by two earnings accretive acquisitions completed in the Period.
  • Underlying EBITDA of $17.4m, up 3%, was achieved at a 24.5% margin. This margin performance was achieved after the Group invested $1.8m into M&A advisory costs and further incremental investment in Concordant.
  • Underlying Profit after Tax of $13.2m is up 4% (H1 2023: $12.7m) with an increase in finance costs offset by a more favourable effective tax rate.
  • EPS of $0.113 was down 1%, primarily as a result of the average share count increasing by 5% (or 6% on a fully diluted basis).
  • The Group’s balance sheet remains robust with strong free cashflow of $6.0m (H1 2023: $1.8m), enabling strategic progress via organic investment and earnings enhancing M&A.
  • Net Debt of $28.3m (H1 2023: $9.1m) reflects a prudent leverage ratio and the deployment of $23.7m to fund the H1 acquisitions.
  • The Board retains strong confidence in the Group’s outlook and has declared an Interim Dividend of $0.047 per Common Outstanding Share, up 2% from last year’s $0.046.
H1 2024H1 2023Change
Group Revenue$71.1m$65.7m+8%
Underlying EBITDA$17.4m$16.9m+3%
Underlying EBITDA margin24.5%25.8%-1.3pt
Underlying Profit after Tax$13.2m$12.7m+4%
Underlying EPS basic11.30c11.40c-1%
Underlying EPS fully diluted10.81c11.06c-2%
Interim Dividend4.70c4.60c+2%
Net Debt / (Cash) at period-end$28.3m$9.1m $19.2m

Operational Highlights

  • The Period showcases the Group’s ability to successfully execute its stated growth strategy, with ten operating companies providing an enhanced complementary range of services to a now global client base:
    • Acquisition of London-based Pagefield, broadening the Group’s operational presence outside of the US for the first time and providing significant revenue opportunity via the referral to and from the pre-existing Group.
    • Acquisition of California-based Lucas Public Affairs (“LPA”), expanding the Group’s presence in a state that is characterised by a highly regulatory environment and would register as the world’s fifth largest economy.
    • Integration of LPA has completed and the integration of Pagefield is being delivered as expected, with both companies already benefitting from client referrals via the wider PPHC network.
  • Revenue diversification further enhanced with the top 10 Group clients representing 7.6% of revenue in H1 2024 versus 8.4% at the end of FY23 and 10.0% for FY22.
  • By segment:
    • Government Relations grew strongly at 8% (4% organically) while Public Affairs decreased by 6% (13% organically) as a consequence of a reduction in project-based work due to pending elections and economic concerns. Diversified Services (Research and Compliance) grew strongly at 97% (32% organically), albeit from a lower base.
    • The revenue share of Government Relations remained stable at 71% (H1 2023: 71%); Public Affairs decreased marginally to 22% (H1 2023: 25%); and Diversified Services grew to 7% (H1 2023: 4%).
  • A broadening client base of c.1,200 Group clients is supported by sustained high retention rates, with the Group directly representing almost half of the Fortune 100 and a quarter of the Fortune 500, in addition to many more via trade associations.
  • The quality of PPHC’s operating companies continues to be reflected in the 2024 Lobbying Disclosure Act rankings, with Group agencies, when aggregated, topping the rankings as the US market leader in both Q1 and Q2 2024, as well as for the previous 14 consecutive quarters.

Current Trading and Outlook

  • The performance delivered in H1 2024 has set the Group up well for the remainder of the year and it remains on track to meet full year market expectations, with Underlying EBITDA margin for H2 2024 expected to be at or slightly above the H1 2024 level.
  • The focus continues to be on driving client retention rates, new business generation following the outcomes of elections in the US and UK, and the continued cross-selling of services across the Group’s broad operating company base to support organic growth prospects.
  • The market for public affairs and professional lobbying services in key geographies remains fragmented and the Board continues to view the Group as a natural consolidator with favourable bipartisan positioning.
  • The pipeline of acquisition opportunities under development in the US, UK and Mainland Europe remains strong in an active market for the government relations and strategic communications sectors. The Group is actively seeking to expand its portfolio of operating companies internationally with strategically and financially attractive opportunities while adding complementary specialisations.
  • The Board remains confident in the ongoing prospects for the Group and reiterates its medium-term guidance to achieve:
    • organic revenue growth between 5% and 10%;
    • incremental growth from future M&A; and
    • Underlying EBITDA margin between 25% and 30%.

Stewart Hall, CEO of PPHC, commented:

“I am pleased with the progress we have achieved in the first six months of the year as we continued to acquire excellent businesses complementing our wider growth strategy. We began our international expansion through the acquisition of Pagefield, giving us a foothold in the UK, while all ten of our operating companies are well positioned to benefit from increasing demand for their services as new governments and administrations are formed around the world, this year and next. Our ability to deliver organic growth in a period of impending elections is testament to the diversity of our revenue base and our high client retention rates.

“We have an exciting and robust M&A pipeline, both in the US and internationally, and are confident in our ability to deploy more capital to further accelerate our growth trajectory. I look forward to updating shareholders on our continued progress in the months ahead.”

PRWeek: Pagefield bolsters senior team with ex-FTI and Stonehaven hires

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New hires from left to right: Christopher Clark, Natasha Page and Ollie Wilson

Pagefield Communications has announced a trio of senior appointments following its recent sale to PPHC, the US government relations and public affairs holding company.

Christopher Clark, a former senior managing director and partner at FTI Consulting, joins the Pagefield Communications leadership team as a partner.

Pagefield said he will lead further growth of the consultancy’s corporate reputation offer, “both domestically and internationally”. He previously led global corporate briefs from both London and New York at FTI, where he worked for more than 23 years.

Pagefield said: “During his time with FTI, Christopher developed a particular specialism in foreign direct investment as well as the industrial, aviation and automotive sectors, all of which he brings to Pagefield, where he will also work closely with other PPHC group companies.”

Meanwhile, Ollie Wilson joins as a senior consultant from global strategy consultancy Stonehaven.

Wilson will focus on further expanding Pagefield’s marketing communications and digital platforms offer, the firm said. There will be a particular emphasis on creativity, design, audience insights and online campaigns, as well as Pagefield’s own marketing programme, working with partner Laura Price.

The third hire is Natasha Page, who joins from Red Lorry Yellow Lorry as HR manager.

She will report to chief executive Oliver Foster “as they work closely together on Pagefield’s integration within the PPHC group, and as the company continues to strengthen and expand the skills within the team”.

Read the full story from PRWeek.

Lucas Public Affairs Expands Executive Leadership Team, Names Executive Vice Presidents Jessyca Sheehan and Travis Taylor

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Lucas Public Affairs (LPA) is excited to announce additions to its executive leadership team, naming Jessyca Sheehan and Travis Taylor as executive vice presidents. They join LPA CEO Donna Lucas and President Cassandra Pye in managing the firm, with a focus on driving agency growth and innovation to enhance client strategy, business development and talent management.

Donna Lucas, CEO:

“Our corporate, nonprofit and government clients rely on us to help them navigate many of California’s toughest public policy challenges, and Jessyca and Travis have delivered time and again. They are trusted, effective strategists, and their elevation reflects their place among California’s top public affairs leaders.” 

Read the full story here.

PPHC Completes Second Cycle of Summer Fellowship Program

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Pictured from left to right: Syeria Alvarado | Howard University Class of 2024, Tanner “TJ” Edwards | UNC Chapel Hill Class of 2024, Anamei Walli | University of Kentucky Class of 2026, Sadad Salahuddin | University of Southern California Class of 2024

The PPHC 2024 Summer Fellowship Program concluded this week, marking the end of its second successful rotation.  By leveraging the size and scope of expertise across PPHC’s leading member companies, this highly competitive Group-wide initiative provides a select cohort of students and recent graduates with diverse opportunities to collaborate and partner with PPHC’s leaders and industry experts. The program aims to provide an immersive experience for emerging professionals from groups who are traditionally underrepresented in the government relations and advocacy fields, to equip them with essential skills and knowledge necessary for a career in public policy, and to expose them to the unique political and professional landscape of Washington, DC.

Over the span of 12 weeks, the four distinguished fellows engaged in a comprehensive rotational experience, acquiring valuable insights and skills at PPHC member firms while being mentored by industry experts. The fellows spent a dedicated week at each participating company, including a “California week” that integrated recently acquired Lucas Public Affairs with KP Public Affairs. Additionally, the program featured designated “flex weeks,” allowing fellows to conduct focused independent research, as well as “Professional Development Week” which included career development workshops, as well as opportunities to gain insights from PPHC’s C-Suite and leadership team.  

Ron Starzman, EVP of Human Resources, PPHC:

“Diversity, in all forms, accelerates innovation.  And innovation is a critical component to long-term success. PPHC’s Fellowship Program truly reflects the richness of our diverse organization.  We are very proud of our program, as well as our very talented fellows, and we look forward to watching them continue to grow, learn, and thrive in ways that will enrich their futures and the future of our industry.”

Retirement of Bill Chess

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With mixed emotions, we announce the retirement of Bill Chess from his role as Chief Administrative Officer of PPHC. While stepping back from day-to-day operations, Bill will continue as a strategic consultant and valued Board member.

The PPHC team extends its deepest gratitude to Bill for his exceptional leadership. Co-founding PPHC in 2014 and serving as CFO until July 2023, Bill’s vision and strategic acumen have been instrumental in shaping PPHC into the global organization it is today.

A mentor and friend to many, Bill has been a cornerstone of PPHC, fostering a culture of excellence and collaboration. We celebrate his distinguished career and look forward to his continued guidance.

Stewart Hall, CEO: 

“PPHC wouldn’t exist without Bill. From our inception to our current international presence, his pivotal role cannot be overstated. Bill’s foresight and dedication have molded us into who we are today. We’re deeply grateful for his unwavering belief in our company and its people. His friendship and leadership have been foundational to our success. Please join me in thanking Bill for his wisdom, loyalty, and immeasurable contributions.”

Jill Kendrick, COO: 

“Bill always emphasized that people make the difference, a principle that now defines PPHC. We’re thankful for Bill being one of those difference-makers. His tireless devotion, vision, and wisdom have not only brought us to where we are but have also created the blueprint for our future success.”

Bill Chess, Non-Executive Director:

“Everyone reaches a time in life to move on, and now that such a great team is in place at PPHC, my time has come.  It was the most enjoyable time of my life to start with Stewart’s vision twelve years ago and then, along with Stewart and Jill, acquire companies and build a staff to make our dream become reality.  Our ‘baby’ is growing quickly and most importantly we have not wavered from our original principles of adding the best companies and staff.  I’ll continue to watch the future progress with great anticipation.”

PRovoke Media Headliners: Oliver Foster

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From PRovoke Media:

In this week’s Q&A, we speak to Oliver Foster, the CEO of UK strategic communications firm Pagefield, which has been acquired by US public affairs group PPHC. 

What are the greatest challenges and opportunities for the PR and communications industry over the next 12 months?

It’s a big year of elections around the world and so, whatever the results, a lot of disruption is already happening – politically, socially and economically. But change is also an opportunity – for new connections and trying new approaches to campaigning.

Read the full conversation here.