Author: ally

PPHC Announces Chief Financial Officer Succession; Roel Smits Elevated

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PPHC is pleased to announce that, as part of its executive officer succession planning, Roel Smits has been appointed as Chief Financial Officer with immediate effect.

Founding CFO Bill Chess remains on the Board as Executive Director and will assume the new position of Chief Administrative Officer, reporting directly to the CEO, where he will drive internal efficiency and collaboration.

Roel joined PPHC in May 2022 as Deputy CFO. He has previously acted as CFO at Kantar, the data analytics and brand consulting company owned by WPP and Bain Capital, most recently for Americas and prior also for Asia-Pacific and Africa. Prior to that, he performed senior roles at WPP (Senior VP of Corporate Development) and Dutch private equity family office HAL Investments BV. Roel has a Masters in Finance from London Business School, as well as a Masters in Economics from Erasmus University Rotterdam and an MBA in Marketing from Michigan State University.  

It is the intention that Roel will join the Board in due course subject to completion of customary due diligence and regulatory procedures.

“The appointment of Roel to the position of CFO and of Bill to the new position of Chief Administrative Officer is the result of careful succession planning and adds additional strength to the executive team. Since our IPO in December 2021, we have created a business delivering revenues of over $100m with strong EBITDA margins between 25% and 30% and we are looking forward to building on this progress in the coming years.“

-Simon Lee, Chairman, PPHC

“I am delighted to take on the role of PPHC’s CFO as we continue to deliver our clearly stated strategy and benefit from the ever-increasing importance that corporates globally are placing on government relations and public affairs. In addition to continued organic growth, PPHC is actively in discussions with a number of potential acquisition targets, both in the US and internationally – I am excited by the potential for significant growth that lies head for the Group. With deepest respect I thank my predecessor Bill Chess for all he has done for PPHC since its inception in 2014.”

-Roel Smits, CFO, PPHC

“Being part of the team that has propelled PPHC into becoming the largest provider of federal lobbying services in the US continues to be an incredible journey.  I’m looking forward to working in my new role to drive internal efficiency and collaboration as we deliver on our organic and acquisitive growth plan.“

-Bill Chess, Chief Administrative Officer, PPHC

PPHC Remains the Leader in Bloomberg Government 2022 Report

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WASHINGTON – PPHC maintains its position as leader of the top-performing lobbying firms in Bloomberg Government’s 2022 report. Forbes Tate Partners, Crossroads Strategies, and Alpine Group Partners each earned a spot on the list, with their combined 2022 federal lobbying disclosure revenues reaching $66.5 million.

Forbes Tate Partners once again earned a spot amongst the top 10 lobbying firms with the highest revenue, while Crossroads Strategies was named as a ‘Standout’ firm. The standout distinction was given to firms that retained 80% or more of their clients from 2021, retained 60% or more of their clients over three years, and earned $550,000 or more in revenue per lobbyist.

 

Read the full RNS announcement from PPHC here.

Download the full Bloomberg Government 2022 report here.

Seven Letter Adds Two New Senior-level Positions for Public Affairs Veterans Blair Taylor & Maura Hogan

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WASHINGTON – Seven Letter announced today that two new senior-level positions have been added to the strategic communications firm for new hires Blair Taylor and Maura Hogan. Taylor will be operating out of Seven Letter’s DC office as Managing Director, while Hogan will be working in Seven Letter’s Boston office as Senior Director.

Taylor joins the firm after almost a decade of work in the public sector as a senior communications advisor on Capitol Hill. Her most recent role as Communications Director for Senator Richard Shelby (R-AL) and the Senate Appropriations Committee involved the navigation of many high-intensity, crisis situations including those related to the COVID-19 pandemic, the war in Ukraine, the withdrawal from Afghanistan, and the fight for border wall resources. Blair not only brings this experience with her to Seven Letter, but also a deep expertise in appropriations, defense, energy, health care, and financial services policy.

Hogan brings over a decade of both public and private sector experience to Seven Letter and her most recently held position was Senior Vice President at Direct Impact-Burson, Cohn, & Wolf (BCW). Hogan’s addition enhances the firm’s corporate communications offering with her specialization in corporate reputation, executive visibility, public affairs, and ESG/sustainability. Prior to joining the private sector, Hogan worked at the US Department of State where she served as digital communications advisor to Secretary of State John F. Kerry and chief liaison to the White House Office of Digital Strategy.

Read more about the newest additions to the Seven Letter team here.

PPHC Chief Strategy Officer, Thomas Gensemer, featured in PRWeek’s Pride in PR List

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PPHC’s own Thomas Gensemer, Chief Strategy Officer, is profiled in today’s edition of PRWeek’s Pride in PR list. This is the second annual Pride in PR list, celebrating Pride Month by highlighting leading professionals in the PR industry who identify as LGBTQ. Each day throughout the month of June, a different inspirational LGBTQ communications professional is recognized and profiled.

As a veteran of public affairs, advertising, and political campaigning, Thomas Gensemer offers his advice and insight throughout the profile. On how colleagues can be true allies all year round, not just during Pride Month, Gensemer answered:

“Realize the interconnectedness of our issues, and how the incredibly fast progress and commercialization of Pride can sometimes hide, or at least misrepresent, some ongoing struggles for equality.”

You can read Thomas Gensemer’s full profile here.

See PRWeek’s 2023 Pride in PR list here.

PPHC Announces Full Year Results for 2022

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Full Year Results for the year ended 31 December 2022

Strong financial performance and sustained growth, driven by robust market demand.

Public Policy Holding Company, Inc., (“PPHC”, the “Group” or the “Company”), the government relations and public affairs group providing clients with a fully integrated and comprehensive range of services, is pleased to announce its Full Year Results for the year ended 31 December 2022.

Financial Highlights:

  • Revenue of $108.8m (2021: $99.3m) reflects an increase of 9.5%, and 6.6% organic growth.
  • Underlying EBITDA of $31.2m (2021: $32.0m) is in line with guidance and was achieved at a margin of 28.7%, within our target range of 25 to 30%. This followed a truly exceptional 2021 which was driven by a combination of high pandemic-related spending and the change of control in the White House
  • Underlying Profit after tax was $23.3m (2021: $23.9m), reflecting a margin of 21.4%
  • Year-end Net Cash stood at $21.0 million, an increase of 17.9%
  • Declared a final dividend of $0.095 per Common Outstanding Share. This would take the total dividend for 2022 to $0.14 per share.

Operational Highlights:

  • Successful acquisition of California based KP Public Affairs on 1 October 2022, proving attractiveness of holding company value proposition and equity + cash offer.
  • Key talent additions into Group’s founding firms, including deepening specialisations in new/renewable energy policy, defence contracting, financial services, and trade policy, all service areas that are central to today’s policy agenda.
  • Improved client diversification, with the top 10 Group clients representing 9.6% of total revenue, down from 13.1% in 2021.
  • 2022 total clients greater than 850, up from over 730 in 2021; includes over 100 Fortune 500 clients and related trade associations.
  • Number of clients spending $100,000 or greater per year was 384, a gain of 11%, and representing 43% of our total clients.

Current Trading and Outlook:

  • MultiState Associates acquired on 1 March 2023, elevating our number of clients to over 1,000.
  • Continued growth into 2023, fuelled by ongoing policy debates over government spending and the passage of historic spending measures in 2021-22 into sectors such as healthcare, essential manufacturing, renewable/alternative energies, and infrastructure.
  • Management expects revenue to grow by 5 to 10% organically, supplemented by growth from past and future M&A transactions.
  • The Group continues to manage the business such that the Underlying EBITDA as percentage of revenue is estimated to be between 25% and 30%.
  • Continuing to build an attractive pipeline of strategic acquisition opportunities in the federal and state advocacy markets, as well as in the adjacent strategic communications and public affairs markets in the US and abroad.

“PPHC is well placed to deliver continued growth, both organically and via acquisitions. We have already completed the acquisition of MultiState, expanding our service offering and opening new opportunities for collaboration between our operating businesses. We look forward to continued strategic and financial progress in 2023.“

-Stewart Hall, CEO

Read the full report here.

Crossroads Strategies adds seasoned experts from both parties with Cheryl Jaeger, Partner, and Ivelisse Porroa-Garcia, Senior Vice President

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WASHINGTON – Crossroads Strategies expands its dynamic, bipartisan team with two new hires from both political parties. Cheryl Jaeger is Crossroads’ newest Partner, bringing with her over two decades of experience in both the public and private sectors. Jaeger’s experience on Capitol Hill includes serving as Senior Policy Advisor to former House Majority Leader Eric Cantor and former Senator Roy Blunt, and as professional staff on the House Energy and Commerce Committee.

Ivelisse Porroa-Garcia was also added to the Crossroads team as a Senior Vice President. Born and raised in Lima, Peru, Porroa-Garcia is currently the Vice President of the Hispanic Lobbyists Association. Prior to taking on the new position at Crossroads, Porroa-Garcia served as Policy Director for the Congressional Hispanic Caucus and on the staffs of Representative Paul Ruiz and Senator Barbara Boxer.

Read the full press release here.

PPHC Acquires MultiState to Broaden Client Offering and Footprint

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  • $22m acquisition “fits perfectly” with PPHC strategy – PPHC CEO, Stewart Hall
  • Geographical footprint broadened to all 50 US states and across Canada
  • Enables PPHC to extend client offering into more areas, e.g. research and compliance
  • Significant cross-referring of business between MultiState and existing PPHC brands expected

The government relations and public affairs holding company PPHC is continuing to execute on its stated growth strategy and has acquired MultiState Associates, one of the largest state and local government relations specialists, for $22m. Read the full acquisition announcement here.

The deal gives PPHC a significantly expanded footprint with operations in all 50 US states as well as across Canada. It also enables PPHC to broaden its client offering given MultiState’s strength in the areas of research and compliance.

The combination of the two businesses is therefore highly complementary and a significant level of cross-referring of business between MultiState and the six other brands within PPHC’s broader network is expected. PPHC’s other brands include Crossroads Strategies, Forbes Tate Partners, Seven Letter, O’Neill & Associates, Alpine Group Partners and KP Public Affairs.

MultiState was founded in 1984 and has its headquarters in Alexandria, Virginia. It has over 300 corporate clients including several Fortune 500 constituents and has gained particular expertise over the years in representing some of the world’s best-known organisations on issues of local, state, and national importance. MultiState’s 77 employees – including all senior executives – will remain with the business.

PPHC has been undergoing significant growth and acquired KP Public Affairs, the largest advocacy and PR firm in California, for $25m in October 2022 – the most recent acquisition prior to MultiState. The pipeline of potential acquisition opportunities under development remains strong and, in considering each possible deal, PPHC will continue to look to broaden its geographical footprint, both in the US and internationally, and its service offering.

Stewart Hall, CEO of PPHC, commented:

“The acquisition of MultiState fits perfectly with our strategy of broadening our geographic footprint into key US state capitals and metropolitan areas, while extending our offering by adding key service capabilities in research and compliance. MultiState has a talented team and its strategic capabilities will solidify PPHC’s leadership position as the largest and most comprehensive public policy firm in the US. Linking our well-established businesses in Washington DC, Sacramento, California and Boston, Massachusetts to MultiState’s network in 50 states makes the Group uniquely suited to support corporate clients in the most complex risks and opportunities they face.

“Our growth in the resilient and fragmented $17+bn US strategic communications market is driven by increased inter-connectedness of federal, state and international policies and risk exposure. I am confident that our combined businesses will benefit greatly from new capabilities, new geographies and new client opportunities.”

Joseph Crosby, CEO of MultiState, commented:

“PPHC is bringing together highly specialised government relations businesses at a scale that’s never been seen. This acquisition marks a significant milestone ​during​​ ​​​MultiState​’s 40th year in business as well as for each of my talented partners and colleagues.  It also marks a milestone for our clients and the industry, as federal and state policy issues are evermore interdependent and require the professionalism and seamless integration that only PPHC and MultiState now offer.”

Seven Letter Adds Mike Ricci as Partner, Kobina Yankah as Creative Director of Seven Letter Labs

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WASHINGTON – Mike Ricci is the newest Partner to be added to Seven Letter. Ricci joins the public affairs firm after working as Communications Director for Maryland Governor Larry Hogan. Bringing more than a decade of prior experience as top spokesperson for Republican House Speakers Paul Ryan and John Boehner, and given the current political climate, Ricci is a welcome addition to Seven Letter’s team.

Seven Letter also added the new position of Creative Director of Seven Letter Labs. Kobina Yankah joins the firm to take on this new role after working throughout the midterms as Creative Director for the Democratic Congressional Campaign Committee. Yankah has previously created content for New Line Cinema, the MLB, and the NBA, for which he earned a National Emmy Award.

Visit Seven Letter’s blog for more details.