Brunswick Group

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Brunswick Group is a British public relations company headquartered in London, England. Founded in 1987 by Sir Alan arker [1] , as of 2024, Brunswick claimed as clients roughly one-third of the companies in the FTSE 100 and a stable of international corporate groups such as AT&T, BlackRock and LVMH. [2] [3] As of 2021, the company employed 1,300 in 27 cities in the UK and abroad. [4]

History

Brunswick Chairman Sir Alan Parker's leadership of Save the Children faced controversy over allegations of mishandling complaints against former chief executive Justin Forsyth. In 2015, a report suggested that Parker's close relationship with Forsyth may have influenced his response to accusations of inappropriate behavior made by three female employees. Critics argued that the organization's leadership failed to address the complaints adequately, leading to scrutiny of Parker's role in the matter. Parker declined to comment on the allegations. [5] Roughly a week after the inquiry was announced, Parker resigned. [3]

In 2021, Brunswick Group agreed to sell a 10.7% stake to BDT Capital Partners, a U.S. investment fund led by Warren Buffett's banker Byron Trott. The deal valued the British public relations firm at £500 million ($697.85 million). [6] As part of the transaction, the firm's founder and Chairman Sir Alan Parker received £70 million from the sale of his stake. [4]

Brunswick reported revenues of £413mn in 2022, having diversified from public relations into areas including investor relations, regulation, environmental, social and governance; and geopolitical advice, with a significant US advisory arm. [2]

In February 2024, Brunswick appointed Henry Timms, former CEO of New York's Lincoln Center for the Performing Arts, as its new head. Timms succeeds Neal Wolin, who previously served in senior roles under the Clinton and Obama administrations. [2]

In June 2024, Stanford University's School of Sustainability enlisted Brunswick Group to address potential reputational challenges linked to its ties with fossil fuel companies. The decision received criticism from campus climate activists, who oppose Brunswick's work with oil and gas firms. Brunswick defended its role, saying that engaging with companies in complex industries is essential for advancing decarbonization efforts. [7]

As of August 2024, Brunswick Group had advised on 155 transactions totaling $279.9 billion, including deals such as the proposed merger of Skydance Media and Paramount Global, Endeavor's sale to Silver Lake, and BlackRock's acquisition of Global Infrastructure Partners. The firm also provided strategic advice on Starbucks' union relations and Reddit's IPO. [8]

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References

  1. ↑ "Media top 100 2007". The Guardian. July 9, 2007. Retrieved November 25, 2024.
  2. 1 2 3 O’Dwyer, Michael (February 7, 2024). "Brunswick hires Lincoln Center boss to spearhead global expansion". Financial Times. Archived from the original on February 7, 2024. Retrieved November 24, 2024.
  3. 1 2 Segal, David (July 14, 2018). "A Crisis Management Guru Bungles a Crisis". The New York Times . Archived from the original on September 10, 2024. Retrieved November 24, 2024.
  4. 1 2 Washtell, Francesca (June 23, 2021). "Sir Alan Parker to bank £70m windfall from the sale of Brunswick stake". This is Money.
  5. ↑ Rana, Manveen; Lea, Laura (March 7, 2018). "Save the Children 'failed' to deal with women's complaints". BBC . Retrieved November 24, 2024.
  6. ↑ "Britain's Brunswick Group to sell nearly 11% stake to U.S. fund - memo". Reuters . June 23, 2021. Retrieved November 24, 2024.
  7. ↑ Noor, Dharna (2024-06-17). "Stanford disappoints critics of fossil fuel donations by hiring PR firm with big oil ties". The Guardian. ISSN   0261-3077 . Retrieved 2024-11-24.
  8. ↑ Hawkins, Eleanor (August 1, 2024). "Scoop: Reuters deals editor Roumeliotis to join Brunswick Group". Axios . Retrieved November 24, 2024.
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