Author: ally

Partner Casey Hernandez Joins Seven Letter’s Corporate Communications Practice

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Seven Letter, an expertise-powered bipartisan strategic communications firm with offices in Washington & Boston, today announced the addition of Casey Hernandez as a Partner to its growing team of communicators.

An accomplished communications executive with two decades of corporate and political communications experience, Casey was most recently senior vice president for global corporate communications at Herbalife, a publicly traded nutrition and wellness company headquartered in Los Angeles, where she managed the company’s overall communications strategy, including CEO positioning and communications, media relations, internal communications, creative content development, ESG communications and social media engagement.

Also joining the firm are Anthony Nerantzis as a Director; Abbey Fitzpatrick, Georgia Shanker and Radeeyah Khan as Content Specialists; Annie Phifer as a Manager for Seven Letter Insight; and Hedi Haleem as Director of Administration.

Erik Smith, CEO of Seven Letter commented:

“We’re incredibly proud of the team we’ve built at Seven Letter, and it just keeps getting stronger. In their short time with us, Anthony, Abbey, Georgia, Radeeyah, Annie and Hedi have all already deployed their diverse perspectives to make insightful contributions to everything from crisis engagements to message research to office administration.”

Read the full press release from Seven Letter.

PPHC Acquires Lucas Public Affairs

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Earnings accretive acquisition expands Group presence in key California market

Public Policy Holding Company (AIM: PPHC), the government relations and public affairs group providing clients with a fully integrated and comprehensive range of services, has acquired Lucas Public Affairs, LLC (“LPA”), a premier California-based public affairs firm (the “Acquisition”), for an initial consideration of $7.5 million. The Acquisition is immediately accretive to the Group’s underlying earnings.

This is PPHC’s third significant acquisition since IPO in December 2021 and LPA becomes the 9th brand to sit within the Group’s broad umbrella.

Based in Sacramento, California and founded in 2006, LPA is led by Donna Lucas, CEO, and Cassandra Pye, President. It has 28 full-time employees including senior experts and practitioners in corporate communications, issues management, and state-based campaigning. LPA helps clients navigate California’s complex legislative and regulatory environment. The firm is known for high-level reputation, issue management and strategic communication campaigns – tapping into the team’s deep familiarity with California’s political, business and media landscape. LPA’s practice areas of expertise reflect the issues that define California’s future including energy and climate, transportation and logistics, K-12 and higher education, water, technology and biotech, housing, health care and aging, insurance, among others.

The Acquisition is in line with the Group’s growth strategy and, alongside the 2022 acquisition of KP Public Affairs, significantly expands its already market leading offering in California. As a wholly-owned subsidiary of PPHC, LPA will retain its distinct brand identity and its long-standing management team and staff. Significant revenue and profit synergy potential exists via the referral of work from the PPHC network, which has over 1,200 clients.

Stewart Hall, CEO of PPHC, commented:

“The acquisition of LPA significantly strengthens our position in a key US state and increases our expertise in critical sectors including technology, green energy, and healthcare. This is an important step towards PPHC’s stated goal of being the world’s largest, most comprehensive provider of government relations and policy communication services for corporations and NGOs.

“There are very few other jurisdictions that matter more to our clients than California, and nowhere else is the future of business being affected as in Sacramento. LPA’s impressive team of communications and public affairs experts are a very strong addition to the growing PPHC family.

“As with our distinctly branded firms in Washington DC and Boston, the addition of LPA, alongside our partners at KP Public Affairs, makes PPHC’s expertise in California second-to-none. Both firms will continue to operate independently.”

Donna Lucas, CEO of LPA, commented:

“We are genuinely excited about what this opportunity means for LPA’s clients and for our team. We had a short list of what we needed to make this move. We wanted stability, a commitment to our roster of current and future firm leaders and we wanted the kind of partner who would allow us to continue to remain independent and true to our culture while continuing to grow. PPHC was founded by people like us who understand our business. They value what we do. We could not ask for a better partner.”

Cassandra Pye, President of LPA, commented:

“This partnership gives LPA access to additional assets and tools to support our clients and their priorities. PPHC has collected an amazing network of practitioners leading public affairs operations in DC, and in California.

“Donna and I are really excited to continue to lead LPA with this exceptional team and with partners who support our commitment to excellence. Our clients are the beneficiaries here. We’re strengthening our bench now and for the future.”

Dan Tate, Co-Founder of Forbes Tate Partners, to receive the 2024 Bryce Harlow Business-Government Relations Award

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Dan Tate, Co-Founder of Forbes Tate Partners, will receive the Bryce Harlow Business-Government Relations Award, which is given annually to a leader in government advocacy in recognition of an exemplary career in the profession.  Prior to starting Forbes Tate Partners with Jeff Forbes, Dan spent twelve years in private practice in both large and boutique firms working with clients. He also served in the Clinton Administration for three years as Special Assistant to the President for Legislative Affairs – and was a key member of the White House team responsible for developing and implementing the Clinton Administration’s legislative agenda on trade, energy, environment, telecommunications, transportation, and financial services issues.

Read more about Dan Tate and the 2024 Awards celebration on the Bryce Harlow Foundation website.

PPHC Announces Full Year Results for 2023

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Unaudited Preliminary results for the year ended 31 December 2023

Record financial performance and excellent strategic progress with acquisitions deepening geographic reach and policy expertise

Public Policy Holding Company, Inc., the government relations and public affairs group providing clients with a fully integrated and comprehensive range of services, is pleased to announce its unaudited full year results for the year ended 31 December 2023.

Financial Highlights

  • Revenue increased 24.1% to a record $135.0m (2022: $108.8m), growing by 2.0% organically, displaying the inherent strength of the Group through the economic cycle
  • Underlying EBITDA rose by 12.4% to $35.1m (2022: $31.2m), in line with market expectations and achieved at a margin of 26.0%, within the Group’s target range of between 25% and 30%
  • Underlying Net Income increased by 13.9% to $26.5m (2022: $23.3m)
  • Balance sheet remains strong with cash generated from operations of $21.6m and a year-end net cash position of $3.4m, comprising $14.3m cash offset by outstanding debt of $10.9m, reflecting very low leverage levels and positioning the Group well to deliver further value accretive M&A
  • Declaration of a final dividend of $0.097 per Common Outstanding Share, taking the total dividend for 2023 to $0.143 per share, representing an increase of 2% year-on-year and in line with the Group’s dividend policy

Operational Highlights

  • Excellent strategic progress, sustaining and organically growing the core offering in challenging markets while pursuing successful, value accretive acquisitions to broaden services and geographic reach
  • Ended 2023 as the #1 federal lobbying agency in the US1, with the Group’s federal lobbying firms collectively reporting $68.3m of disclosed revenue
  • Successful acquisition of MultiState Associates, Inc. (“MultiState” or “MultiState Associates”) on 1 March 2023, proving the attractiveness of the holding company proposition to unlock growth and value
    • Multistate delivered a strong full-year performance, contributing healthily to Group revenue and EBITDA
  • All business segments achieved year-on-year growth, demonstrating the strength and breadth of the Group’s services
  • Improved client diversification, with the top 10 Group clients representing 8.8% of total revenue, down from 9.6% in 2022 and reflecting sustained progress from 2021, when the top 10 represented 13.1%
  • The Group ended 2023 with c.1,200 total clients, compared c.850 in 2022. The current client roster includes 137 Fortune 500 clients and related trade associations, while directly serving 44 Fortune 100 clients
  • Number of clients spending $100k or greater per year was 468, a year-on-year increase of 23%
    • The growth of clients spending $100k or greater demonstrates the Group is successfully cross selling its services with multiple operating companies advising on specific policy areas and specialisms
    • Launched Concordant Advisory, the Group’s first organically developed offering, in November 2023 to enhance cross-selling between operating companies and geographies and better support clients with strategic communications challenges, for which public policy is paramount for their growth
  • Continued focus on people, with the lowest employee attrition rates on record, while adding key talent in specialist areas including AI, aerospace and defence, technology and energy transformation. These sector specialisms are central to today’s broader policy agenda
  • Number of employees as at 31 December 2023 totalled 333, up from 244 as at 31 December 2022

1Source: 2023 Lobbying Disclosure Act

Current trading and Outlook

  • Current year-to-date trading is promising, and the Group continues to grow organically, supported by new client wins across sectors, including RTX Corporation (formerly Raytheon Technologies), Phillips 66, Nuclear Innovation Alliance, Dynavax Technologies and Fight Colorectal Cancer 
  • In the medium term the Group expects organic revenue growth, on average, to be between 5% and 10%, supplemented by growth from M&A
  • The Group continues to target an Underlying EBITDA margin of between 25% and 30%
  • Pipeline of strategic and accretive acquisition opportunities in the US and Europe remains strong, as the Group looks to broaden its market position in federal and state advocacy, as well as in the adjacent strategic communications and public affairs markets

Stewart Hall, CEO, commented:

“PPHC has performed extremely well in what have undoubtedly been some of the toughest macro conditions we have seen since our inception ten years ago. In 2023, the unpredictability of politics – not just in the US but globally – was mixed with increased interest rates and broader macro-uncertainty. It is therefore testament to our broad offering and operating companies that our clients are ever-increasingly relying on our support in navigating these difficult times.

“The increasing demand for our services has enabled us to generate solid levels of organic growth and healthy expansion in total client numbers. Strategically, we are progressing well with a healthy pipeline of value accretive acquisition opportunities and the strength of our holding company model being validated by the outperformance of our two most recent acquisitions.

“While global uncertainty persists in 2024, we are extremely well positioned to capitalise on what continues to be a positive trajectory for our wider markets. We therefore look forward with a high degree of confidence in our people, operations, expertise and ability to continue to deliver profitable growth in the years ahead.”

Read the full report here.

Forbes Tate Partners Cements Leadership at the Intersection of Financial Services Policy and Issue Advocacy with Addition of Ed Hill

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WASHINGTON – Today, Bloomberg top performing lobbying firm Forbes Tate Partners (FTP) revealed that it is entering the next phase of its financial services policy advocacy with the addition of Ed Hill as a partner in its government relations practice. Hill’s decades of corporate and association experience will elevate the firm’s growing financial services practice and provide FTP clients with a unique ability to evaluate their needs through a financial policy lens and pursue winning issue campaign solutions.

Ed Hill is a respected and influential national authority on financial services issues. Prior to joining FTP, Hill served as Senior Vice President and Head of Government Affairs for the Bank Policy Institute (BPI) leading federal advocacy efforts on the priorities of member companies, including those across capital and liquidity, consumer banking, technology, and national security. With the full array of FTP’s campaign capabilities – including media relations, digital communications, state advocacy, and data-driven insights – at his disposal, he and FTP will be able to offer clients a variety of tailored, multi-faceted ways to shape policy outcomes and navigate the political, regulatory, legislative, and reputational landscape.

Read the full press release from Forbes Tate Partners.

AI Impact on Society – Research from Seven Letter

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This week, Seven Letter published new public polling data revealing Americans’ attitudes towards artificial intelligence.

Some key takeaways from the responses include:

  • AI is good for businesses, younger Americans and respondents personally
  • AI is bad for the middle and working classes, older Americans and society in general
  • Largest drivers of concern are related to information security, potential job loss and possible discrimination from AI models
  • Strong bipartisan appetite for government regulation of AI

Read the full article and presentation on Seven Letter’s blog.

PPHC Hosts Breakfast Celebrating Black History Month

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WASHINGTON – Last Thursday, Public Policy Holding Company hosted a Black History Month breakfast reception at the Hart Senate Office Building. The reception featured Senators Laphonza Butler (D-Calif.), Cory Booker (D-N.J.), and Raphael Warnock (D-Ga.) who spoke to the crowd of nearly 200 about the importance of elevating black voices in Congress. Alpine Group Principal and PPHC Board Member, Keenan Austin-Reed (pictured above with the three guests of honor) kicked off the morning’s events.

Other notable attendees included Maya Wiley (President & CEO at the Leadership Conference on Civil Rights), Dr. Kimberly McClain (Assistant Secretary for Congressional & Intergovernmental Relations, U.S. Department of Housing & Urban Development), and Shaniqua McClendon (Vice President of Political Strategy, Crooked Media).

Check out Playbook PM’s recap of the event here.

 

Alpine Group adds legislative and policy veteran Shayne Woods as Vice President

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WASHINGTON- Alpine Group announces Shayne Woods as the newest addition to their team, joining the premier lobbying firm as vice president. Woods’ most recent role was as senior legislative advisor to Senator Tim Scott, focusing on issue areas including healthcare, budget, and commerce/science/transportation.

Before joining Senator Scott’s team in 2021, Woods spent six years working in the US House of Representatives. Prior to his work in both the House and Senate, Woods founded two healthcare startups: FwdHealth, Inc. and Scipio Strategies. Woods brings his background in tech and healthcare to the table at a time when innovators of emerging technologies like AI and gene therapies face a challenging regulatory landscape.

Les Spivey, CEO and Managing Principal of Alpine Group commented:

“We are excited to welcome Shayne, whose deep understanding of legislative processes, particularly in health care and tech, will be invaluable in our work.”

Read the full press release from Alpine Group.

2023 LDA Rankings Show PPHC in Top Spot Once Again

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WASHINGTON- Lobbying Disclosure Act (LDA) revenue rankings for 2023 have been released. PPHC’s three federal lobbying firms were all individually ranked in the top 20 with PPHC’s total disclosed revenue overtaking the top spot for another year in a row. LDA revenues from Forbes Tate Partners, Crossroads Strategies, and Alpine Group reached a combined total of $68.3 million, showing PPHC growth with a 3.6% increase in disclosed federal lobbying revenue compared to 2022’s rankings.

Stewart Hall, CEO of PPHC, commented:

“Last year was not straightforward in terms of the provision of lobbying services, so to have maintained the top spot in the whole year while each of our three contributing agencies delivered solid federal lobbying growth is no mean feat. It is a testament to the quality of our operating agencies and their excellent people.”

Visit POLITICO for more details on 2023 LDA revenue rankings.