Teneo to Acquire Tulchan
Teneo, the global CEO advisory firm, today announced a significant addition to the firm’s strategic communications capabilities with an agreement to acquire Tulchan Communications LLP (“Tulchan”), a leading independent M&A, financial and corporate communications advisory firm.
Tulchan advises a wide range of public and private companies, and their boards, on significant M&A transactions, IPOs and critical corporate reputation issues covering all major stakeholders. The firm also has a strong presence in Singapore where it has been established for over 10 years. Tulchan was founded by Andrew Grant, Senior Partner in May 2000 and today has over 70 professionals in London and Singapore.
The Tulchan senior team, who will all be joining Teneo as part of the transaction, have a diverse range of skills and backgrounds across media, investment banking, government and industry. They will become part of Teneo’s Strategy and Communications team in London and Singapore, reporting into Nick Claydon (CEO of Teneo UK) and Lauren Chung (CEO of Teneo Strategy & Communications Asia-Pacific) respectively.
Following completion of the acquisition, Andrew Grant will become Chair of Teneo’s UK Strategy and Communications business and Andrew Feldman, Tulchan’s Managing Partner will become Vice Chair. They will work in partnership with Teneo’s broader integrated team around the world across multiple business segments including Financial Advisory, Management Consulting, Risk Advisory and People Advisory.
Paul Keary, Teneo CEOsaid: “Today marks a significant milestone in the continued growth of Teneo. Andrew and the Tulchan team are deeply experienced and highly respected advisors who will help expand the breadth and depth of our M&A and c-suite advisory in London, Singapore and around the world. Following this transaction, our team will number over 1,600 professionals providing a wide range of integrated consulting services not found at any other advisory firm.”
Nick Claydon, Teneo UK CEO said: “In a world of constant and unprecedented disruption, our clients are looking to us for experienced counsel as they navigate complexity. Tulchan brings a highly accomplished team with deep expertise in shareholder and stakeholder communications that will strengthen our financial and political offer, as well as many long-standing client relationships.”
“Together we will provide clients with high quality advice to address their critical financial, societal and political challenges. The acquisition will strengthen our capabilities in London as a full-service advisory firm that meets our clients’ needs. We look forward to welcoming our new colleagues into the firm.”
Andrew Grant, Senior Partner at Tulchan, said: “For more than twenty-two years, we have worked hard to build Tulchan into an advisory firm which both served the needs of our clients and of which we could be proud. I would like to thank all of my colleagues, past and present, and all of the clients, and their advisors, for whom we have acted for their support and confidence.”
“In that time the environment in which companies operate has changed beyond recognition, and so has the shape and scale of our industry. We know that our clients are increasingly seeking a broader range of communication expertise, as well as international representation. Combining Tulchan with Teneo’s platform, both in London and internationally, will transform the expertise we can bring to our clients, as well as offer outstanding new opportunities for our colleagues. We are looking forward to joining the Teneo team, working with our new colleagues and continuing to earn the respect and trust of clients now and into the future.”
Wachtell, Lipton, Rosen & Katz and Freshfields Bruckhaus Deringer served as legal advisors to Teneo on the transaction. Tulchan were advised by Evercore and Macfarlanes LLP. The terms of the deal are not being disclosed. The transaction is subject to customary closing conditions and is expected to close later this month.
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