Business
Acquisition of MultiState Associates
Acquisition of MultiState Associates.
About this update from Public Policy Holding Co., Inc.
[{"type":"text","content":"\n \n \n \n \n \n 1 March 2023\n \n \n \n \n \n \n \n \n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n Public Policy Holding Company, Inc.\n \n \n \n \n \n \n (\"PPHC\" or the \"Group\")\n \n \n \n Acquisition of MultiState Associates\n \n \n \n Acquisition broadens PPHC's footprint into all 50 US States\n \n \n \n \n \n Strong trading momentum with growing client demand for the Group's expertise and integrated capabilities\n \n \n Public Policy Holding Company (AIM: PPHC), the US-based government relations and public affairs group providing clients with a fully integrated and comprehensive range of services including government and public relations, research and digital campaigns, announces the acquisition of MultiState Associates, Inc. (\"MultiState\"), one of the largest US-based state and local government relations specialists, for an initial consideration of $22 million (the \"Acquisition\"). The Acquisition will be substantially and immediately accretive to the Group's underlying earnings.\n \n MultiState is a leading provider of state-based government relations services, state issues tracking and compliance solutions. Founded in 1984 and located in Virginia, the firm represents some of the world's best-known organisations on issues of local, state and national importance.\n \n \n Acquisition highlights\n \n \n \n ·\n PPHC's second significant acquisition since IPO in December 2021.\n \n \n ·\n The Acquisition is in line with the Group's inorganic growth strategy and broadens its offering into state-level advocacy and public relations, offering clients comprehensive policy solutions across jurisdictions. \n \n \n ·\n MultiState's services are highly complementary to PPHC's with its strength in research and compliance adding to and enhancing PPHC's broader client offering.\n \n \n ·\n As a wholly-owned subsidiary of PPHC, MultiState will retain its ...