Category: News

PPHC to Acquire TrailRunner International

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Accretive acquisition expands strategic communications capabilities, extends reach into new geographies and introduces a global sports advisory service

Public Policy Holding Company, Inc. (AIM: PPHC), the leading government relations and public affairs group, is pleased to announce it has entered into a binding agreement on 24 January 2025 to acquire TrailRunner International LLC (“TrailRunner”), a Texas-based global communications advisory firm, for an initial consideration of $33 million (the “Acquisition”). On completion, the Acquisition is anticipated to be immediately accretive to the Group’s underlying earnings.

Acquisition Overview

PPHC has entered into a binding agreement on 24 January 2025 to acquire TrailRunner for an initial consideration of $33 million. On completion, the Acquisition is anticipated to be immediately accretive to the Group’s underlying earnings.

The Acquisition significantly expands PPHC’s capabilities in the large and growing strategic communications market, including corporate affairs, financial communications, crisis communications, litigation communications and reputation management. TrailRunner and PPHC are highly complementary with the combined Group presenting clear and immediate potential for cross-selling and integrated servicing for c.1,300 existing clients.

Founded in 2016 by Executive Chairman Jim Wilkinson, TrailRunner operates with a global team across offices in Dallas/Fort Worth, Texas (where the firm is headquartered), as well as New York, Nashville, and Northern California. The firm also serves global and regional clients from its locations in London, Shanghai, Abu Dhabi and Dubai, with approximately 80 employees supporting its operations worldwide.

Completion of the Acquisition is subject to certain conditions which management expects will be satisfied by 1 April 2025.

Strategic Rationale

The Acquisition is in line with PPHC’s longstanding objective to build, bring together and grow a portfolio of complementary businesses with specialist communications capabilities in order to help clients navigate the world’s most challenging crises, policy risks and opportunities. It also supports the Group’s stated M&A strategy by significantly expanding its strategic communications capabilities and broadening its geographic reach.

PPHC’s global clients require a service provider able to support them across all communications disciplines and in the various geographies where they operate. This acquisition establishes Group operations and a presence in key growth markets, including:

  • Dallas/Fort Worth, Texas, and Nashville, Tennessee – central cities with reach into the growing heartland of the US South, Midwest, and Southwest.
  • New York, where TrailRunner retains deep financial and corporate sector expertise.
  • Northern California, an innovation hub, further amplifying and broadening the expertise PPHC has already established in the state.
  • Across strategic locations in the UK, Middle East and Asia, deepening PPHC’s global footprint.

Upon completion, the addition of TrailRunner’s capabilities in corporate affairs, financial communications, crisis communications, litigation communications and reputation management represents a natural evolution of PPHC’s core service offerings of government relations and public affairs. In an environment where political issues instantly evolve into reputational crises—and vice versa—these expanded capabilities enable PPHC to deliver an integrated service suite that bridges policy advocacy with corporate reputation and strategic positioning.

Furthermore, the Acquisition includes TrailRunner Sports, a leading sports advisory practice established as a joint venture with Legends, the world’s preeminent premium live events company. TrailRunner Sports provides strategic business advisory and communications support to global sports clients spanning leagues, teams, educational institutions, investors, ownership groups and others. This addition broadens PPHC’s ability to offer tailored expertise in the dynamic sports sector and demonstrates its commitment to diversifying its offerings in high-growth markets.

This holistic approach enhances PPHC’s ability to serve its clients’ C-suites, providing a comprehensive advisory framework to navigate complex challenges across regulatory, media, and stakeholder landscapes.

This is PPHC’s fifth significant acquisition since its IPO in 2021 and second that expands its international reach. Upon completion, the Group will have invested substantial capital into M&A through a combination of cash and shares, demonstrating its ongoing commitment to executing its growth strategy. All completed acquisitions to date have been successfully integrated to become value contributing members of the Group.

Stewart Hall, CEO of PPHC, commented:

“The acquisition of TrailRunner simultaneously entrenches our market leading US position and establishes our business as a truly global strategic communications group. It advances our longstanding strategy of building the world’s most comprehensive provider of government relations and corporate communications services.

“By combining TrailRunner’s deep expertise in corporate and financial communications, crisis management and sport with our existing capabilities, we create immediate value for existing, as well as prospective, clients across all markets. TrailRunner’s strong presence in America’s key business centres, combined with its international reach into Europe, Asia and the Middle East delivers on our vision of serving clients with the most important policy and communications needs wherever they operate.”

Jim Wilkinson, Founder and Executive Chairman of TrailRunner, added:

“TrailRunner is a unique and exciting growth company with a track record of proven financial success, an aggressive growth strategy and a deep bench of talent to execute this growth plan. Given the growing global megatrend of the collision of critical factors including corporate reputation, government relations, finance, crisis, litigation and sports, I can think of no better partner than PPHC to help TrailRunner expand into significant future international growth.”

PPHC Appoints John Green as Chief Client Officer

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Public Policy Holding Company, Inc., the leading government relations and public affairs group providing a comprehensive range of advisory services, is pleased to announce the appointment of John Green as Chief Client Officer. This pivotal role underscores PPHC’s commitment to maximising cross-firm collaboration and delivering unparalleled outcomes for its clients.

Having completed four significant acquisitions since its IPO, and now with ten operating companies and over 1,200 clients based globally, John’s appointment will accelerate the Group’s  cross-referral program, fostering deeper integration and synergy and enhancing organic revenue growth.  With a focus on business development and execution, John will work to unlock new opportunities by leveraging the unique capabilities of each firm, ensuring clients benefit from the full breadth of PPHC’s expertise.

John brings over two decades of experience as a trusted advocate in the federal policy space. In addition to his new role, he will continue to serve as Chairman of Crossroads Strategies, one of PPHC’s premier federal affairs firms. Before joining Crossroads, John co-founded Federalist Group, LLC, which was later acquired by Ogilvy Public Relations and became one of the top five government relations firms in Washington, D.C. His track record reflects a deep understanding of the industry and a proven ability to drive growth and client success.

This announcement reflects PPHC’s forward-looking strategy to integrate expertise across its firms, creating value for clients and shareholders alike. The Company’s focus on collaboration and innovation continues to position it as the go-to partner for organisations navigating complex policy and reputational challenges.

Stewart Hall, CEO of PPHC, commented:

“John has an outstanding reputation and will deploy his abilities to connect the dots between our firms and create bespoke teams tailored to client needs. His deep understanding of our business portfolio and connectivity with the CEOs of our operating companies makes him the ideal person to lead this initiative. With ten companies under the Group’s umbrella and a strong M&A pipeline, this appointment signals our commitment to further harnessing our collective strengths and driving organic growth across the Group.”

John Green, CCO of PPHC, commented:

“I’m honored to take on this role and work closely with our talented teams across the Group. By fostering collaboration and innovation, we have an incredible opportunity to not only enhance client outcomes but also further solidify PPHC’s position as the leader in public affairs and government relations.”

Pagefield named one of PRWeek’s 14 Agencies to Watch in 2025

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UK public affairs advisory firm Pagefield welcomed a new owner in 2024. PPHC, the US-based and London-listed public affairs and lobbying holding company, snapped up the agency in June for a price that could reach £30m.

It was PPHC’s fourth acquisition since its flotation in December 2021. Pagefield has retained its identity and became the 10th brand under the group’s umbrella, joining agencies that include Forbes Tate and Crossroads Strategies.

It marks a major shift for the London firm that was founded in 2010 by Mark Gallagher, Oliver Foster and Sara Price and had 36 full-time employees when the sale was announced.

See the full list from PRWeek.

PRNews Names Forbes Tate Partners & Seven Letter to 2025 Agency Elite Top 120 List

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PPHC firms Forbes Tate and Seven Letter have both been named to PRNews’ Agency Elite Top 120 List for 2025. Each year, PRNews creates it’s Agency Elite Top 120 List as a comprehensive guide to the most innovative PR & communications firms in the industry.

This is the third year in a row that the two PPHC firms have been awarded this distinguished honor.

See the full 2025 Agency Elite Top 120 list from PRNews.

Seven Letter named one of PRWeek’s “Best Places to Work 2024”

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PRWeek has once again recognized PPHC firm Seven Letter for their professional-development offerings and collaborative atmosphere:

Collaboration, creativity and collegiality are at the core of Seven Letter. Employees describe the firm as “a diverse set of people from different industries with unique skill sets.” Those professionals work hard to ensure that junior staff receive the help they need to develop strong industry skills. 

See the full list of Best Places to Work 2024: Midsize Agencies from PRWeek.

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.“

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.

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.”

PPHC Acquires Leading London Firm Pagefield to Anchor UK & European Network 

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Industry-leading government relations and public affairs group adds first international presence with acquisition of UK consultancy  

Washington, DC and London, UK – PPHC, the government relations and public affairs holding company, has acquired Pagefield Communications Limited (“Pagefield”), a UK-based strategic communications firm headquartered in London, for an initial consideration of £16.2m, establishing a foothold outside the US for the first time.  

PPHC has been targeting acquisitions within the key political capitals of London and Brussels, as well as into further key US state capitals, to broaden its geographical presence. The Group’s healthy M&A pipeline is reflected by the pace of dealmaking, as the Pagefield deal follows the acquisition of Lucas Public Affairs (“LPA”) based in Sacramento, CA on 1 May 2024. Today’s announcement is PPHC’s fourth significant acquisition since IPO in December 2021 on the London Stock Exchange’s AIM, and Pagefield becomes the 10th complementary brand to sit under the Group’s growing umbrella. 

The addition of Pagefield marks a significant step towards PPHC’s stated goal of being the world’s premier provider of government relations and integrated communications services for corporate interests and NGOs, and further solidifies its position as an industry leader. Founded in 2010, Pagefield has earned widespread recognition for its excellence and impact in helping clients navigate the UK’s complex legislative and regulatory environment and is known for high-level reputation, issues management and strategic communications campaigns. Comprising an entirely cross-party team of 36 full-time employees, the firm has deep familiarity with the UK’s political, business and media landscapes.   

As with each of PPHC’s specialist firms, Pagefield will operate independently as a wholly owned subsidiary, maintaining its distinct brand identity and management team. The acquisition sets the stage for significant synergies between the Group’s network of more than 1,200 clients and 350+ policy and communications experts. Going forward, Pagefield will serve as a critical anchor for PPHC’s further expansion into Europe, the Middle East and Africa (EMEA).  

“The consequential nature of UK – and US – public policy at this very moment demonstrates why having leading strategists working in collaboration is so important to clients across the globe. This is a major milestone for PPHC and it is only possible because the shared strategic goals between Pagefield and PPHC were clear from the very start,” said Stewart Hall, PPHC CEO. “The addition of Pagefield’s experienced team will help us ensure our clients’ needs are met in an increasingly complex public policy and regulatory environment. The myriad of risks and opportunities faced by corporate and NGO leaders are no longer determined by borders or time zones. PPHC is uniquely positioned to advance our clients’ interests at a particularly determinative time in our political and cultural history.”    

“We seek partners, not just acquisitions. And after an extensive, multi-year search for a consultancy which is capable to serve our clients and help fuel our growth internationally, to find Pagefield at an inflection point themselves was true serendipity,” added Thomas Gensemer, PPHC Chief Strategy Officer, who also leads the Group’s international expansion. “Our goal is to be the premier provider of government relations and integrated communications around the world and we remain on the lookout for high quality consultancy partners in the UK, internationally and in additional states across the US. Our pipeline of acquisition opportunities under development remains extremely healthy as we solidify our positions.” 

Oliver Foster, CEO of Pagefield, commented: 

“We are delighted to be joining the PPHC family whilst maintaining the Pagefield brand, ethos and values. This next phase in our growth will open up a huge well of professional – and international – expertise to our clients. We already advise and represent a number of international clients in the UK, and PPHC works with a number of UK clients in the US. Therefore, the long-term client benefits were crystal clear from the moment we began our discussions and the opportunities for professional collaboration to add further value to current, new and shared clients is incredibly exciting.”  

Mark Gallagher, Co-Founder of Pagefield, added: 

“I am thrilled that we have found a terrific new home for Pagefield and our exceptional team – a prerequisite for the future of a company we founded some fourteen years ago. Today we are laying the foundation stone of what I have no doubt will be a transatlantic PR powerhouse. As founders of the business, Sara Price and I are also delighted to maintain our involvement in Pagefield and to have a stake in the future success of PPHC as a whole.” 

In addition to the 1 May acquisition of LPA, the Pagefield deal follows the 1 March 2023 acquisition of MultiState Associates, the Washington, DC firm which specialises in state-based government relations across the US and Canadian provinces and territories and the November 2023 launch of Concordant, a new corporate communications advisory, based in Chicago.   

PPHC’s other brands include Alpine Group Partners, Crossroads Strategies, Forbes Tate Partners, KP Public Affairs, O’Neill & Associates and Seven Letter. 

PPHC is listed on the Alternative Investment Market (“AIM”) of the London Stock Exchange (Ticker: PPHC)