Investcorp announces CDPQ investment in its portfolio company, ICR

21 Sep 2021

Investcorp, a leading global provider and manager of alternative investment products, announced today that Caisse de dépôt et placement du Québec (CDPQ), a global investment group, will acquire a significant stake in Investcorp’s portfolio company, ICR (the “Company”), a global leader in strategic communications and advisory services. CDPQ will join Investcorp and ICR’s management to further continue the Company’s growth and expansion journey.

Founded in 1998 by a team of former Wall Street professionals, including Thomas M. Ryan, ICR’s Chief Executive Officer, the Company has been one of the fastest growing agencies in the world over the past 20 years, establishing itself as a leading advisor to companies in need of communications and advisory support. Based on its unique industry focused model, ICR provides fully-integrated services across investor relations, public relations, transaction advisory, ESG and digital branding.

Yusef Al Yusef, Managing Partner for Investcorp’s Private Wealth, said: “ICR is a leading player in strategic communications and advisory services. We believe that with the deep expertise of the Company’s management team and its strong reputation, Investcorp together with CDPQ will be able to further expand the business to meet the growing needs of its clients. We look forward to supporting the management team in its growth journey.”

Investcorp invested in ICR in 2018 to focus on accelerating the Company’s organic growth, identifying complementary acquisitions and expanding the business globally.

Jefferies LLC served as lead financial advisor, while William Blair also served as a financial advisor for Investcorp and ICR. White & Case acted as company counsel. CDPQ was advised by Crédit Suisse and Paul, Weiss, Rifkind, Wharton & Garrison LLP.

The transaction remains subject to customary regulatory approvals.