By Powerscourt on 11/10/2023

TPG-BACKED MORROW SODALI ACQUIRES POWERSCOURT

World’s Leading Shareholder Engagement and Governance Advisory Firm Enhances European Platform with Ambitious Plans for Growth

New York, London, 11 October 2023: Morrow Sodali (the “Firm”), a global shareholder engagement and governance advisory company, is pleased to announce that it has acquired strategic communications consultancy Powerscourt.

Founded in 2004, Powerscourt is one of London’s pre-eminent communications firms, specialising in financial and capital markets communications, corporate campaigning, ESG advisory and political affairs. It is also a go-to adviser for clients facing reputational challenges and corporate crises. Powerscourt has 75 colleagues based in London and Dublin advising over 170 clients, including many listed on the FTSE 100.

Morrow Sodali is majority-owned by TPG Growth, the middle market and growth equity platform of TPG. It works with over 1,000 corporate clients in more than 80 markets worldwide on a range of critical issues including corporate governance and ESG advisory, IPO preparedness, shareholder activism, M&A services and proxy solicitation.

Headquartered in New York, Morrow Sodali has around 500 colleagues working across 14 international offices. It has made a number of recent complementary acquisitions, including Citadel-MAGNUS, one of Australia’s leading corporate communications and investor relations firms, and ESG consulting firms HXE Partners and FrameworkESG.

The acquisition of Powerscourt will provide a growth platform for Morrow Sodali to build a full-service advisory and shareholder services practice across Europe, with the financial backing of TPG. Powerscourt’s senior management team, led by founder and CEO Rory Godson and Managing Partner Victoria Palmer-Moore, will remain with the business to help build out the European platform.

Christian Sealey, CEO International, Morrow Sodali, said: “Corporates are operating in an increasingly complex business environment, with heightened levels of stakeholder scrutiny and reputational challenge. The acquisition of Powerscourt is a significant development for Morrow Sodali and is a key part of our global strategy to create a unique, highly differentiated, full-service proposition for our clients.”

Rory Godson, Founder and CEO of Powerscourt, said: “We are adding new capabilities and new countries, transforming Powerscourt into a multi-disciplinary advisory firm with global reach. The Powerscourt team has proved itself with its core services in its home markets. We will now be able to deliver greater perspective for boards, leadership teams and public figures.

“This is a great deal for our colleagues, and the cultural alignment between our two firms is incredibly strong. It allows us to retain what is special about Powerscourt while giving us an exciting opportunity to play a major role in the Morrow Sodali growth story.”

Ransom Langford, Partner at TPG, said: “Morrow Sodali has a market-leading franchise and we are delighted to enhance the business further in London, one of the world’s most important financial hubs. Morrow Sodali is on a journey to become the undisputed best service provider in stakeholder relations and Powerscourt delivers complementary offerings in a key geography. The combination is also an ideal platform for growth as we look for further opportunities across Europe.”

The terms of the deal have not been disclosed.

For further information, please contact:

Rory Godson/Victoria Palmer-Moore

Powerscourt

+44 20 7250 1446

About Powerscourt

Powerscourt is a leading strategic communications consultancy representing many of the largest companies in the UK and Ireland. Its specialist services include financial & capital markets communications, corporate campaigning, ESG & sustainability, political affairs and crisis & issues management.

Powerscourt has 75 colleagues based in London and Dublin advising over 170 clients, including many in the FTSE 100 Index. It has six sector teams comprising consultants with deep industry experience: Consumer Industries, Financial Services, Healthcare, Housebuilding & Real Estate, Industrials & Support Services and Technology, Media & Telecoms.

Powerscourt was founded in 2004 by Rory Godson, a former business journalist whose previous media roles included Business Editor of the Sunday Times.

For more information, visit www.powerscourt-group.com

About Morrow Sodali

Morrow Sodali is a global corporate consultancy that provides clients with comprehensive advice and services relating to corporate governance, compensation, ESG, sustainability, proxy solicitation, capital markets intelligence, shareholder and bondholder engagement, M&A, activism and contested situations, financial communications, investor relations and research. The addition of Powerscourt represents Morrow Sodali’s latest acquisition as the firm continues to expand and enhance the range of advisory services it provides to its clients globally.

From its headquarters in New York and offices in global capital markets, Morrow Sodali serves over 1,000 clients in more than 80 countries, including many of the world’s largest multinational corporations, as well as mutual fund groups, stock exchanges and membership associations.

In 2022, Morrow Sodali celebrated its 50th anniversary and also secured majority investment from TPG Growth, the middle market and growth equity platform of alternative asset firm TPG. This partnership significantly advances Morrow Sodali’s mission of providing clients worldwide with best-in-class strategic advice and comprehensive support, enabling them to maximise value and expertly manage stakeholder relations.

For more information, visit www.morrowsodali.com

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $139 billion of assets under management and investment and operational teams around the world. TPG invests across five multi-strategy platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.

For more information, visit www.tpg.com