Irish public relations firm Hume Brophy has been sold to Washington-based communications group Penta for an undisclosed sum.
The company was set up in 2005 by John Hume, son of the former SDLP leader and Nobel Peace Prize winner John Hume, and Dublin businessman Eoin Brophy.
While initially carving out a reputation as a communications specialist in the financial services area, it has since expanded into other sectors and has a network of offices across Europe, Asia and North America, employing almost 100 staff.
In Ireland, its clients include Stripe, Danone, Eirgrid, MetLife and Irish Funds.
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“This is a natural and exciting progression for Hume Brophy,” said Mr Hume and Mr Brophy, who will continue as senior advisers at Penta.
“It is an opportunity for our talented and dedicated colleagues to lead Penta’s growth in Europe and Asia, and to work as one team on a new and exciting global platform that will compete with the very best in the world,” they said.
“Our business model, based on strong local businesses in key strategic hubs, combined with specialist international practices, is a differentiator in a highly-competitive market,” they said.
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Penta is backed by US equity firm Falfurrias Capital, the financial vehicle of former Bank of America chief executive Hugh McColl.
The public affairs, communications and data analytics platform was established last year following the merger of market-leading firms Ballast Research, Hamilton Place Strategies and Flag Media Analytics.
In a statement, Penta said the acquisition would further expand the company’s global reach “and consolidate the company’s position as the world’s first comprehensive stakeholder solutions firm, combining analytics and research with deep expertise to drive measurable impact for clients.”
Penta president Matt McDonald said: “Leaders are increasingly required to solve complex challenges under public scrutiny and engage with a growing set of stakeholders.”
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“As we look to provide the actionable intelligence businesses need to inform their decision-making, we are excited to welcome the Hume Brophy team to Penta,” he said. “Their deep understanding of the issues that matter most to our clients and unmatched access to the highest level of international decision-making will significantly bolster Penta’s strategy offerings across the globe,” he said.
