FGS Takes the Lead Among 2024 M&A Advisors, With Prosek Showing Strong Performance

KKR-backed FGS maintained its dominance in the global rankings of public relations advisors specializing in mergers and acquisitions, clinching the top spot in both deal volume (459) and deal value ($701 billion) as per the mergermarket rankings released recently. On the other hand, Prosek Partners, a renowned New York-based financial specialist, continued its upward trajectory in the rankings, securing the second position in deal volume (299) ahead of established M&A powerhouses such as Brunswick Group, Joele Frank Wilkinson Brimmer Katcher, and FTI Consulting.

FGS spearheaded several significant deals, including Bosch’s acquisition of Johnson Controls’ HVAC business, Covestro’s acquisition by ADNOC, Mars’ acquisition of Kellanova, and Novo Holdings’ privatization of Catalent. Alex Geiser, the Global CEO, emphasized the importance of comprehensively understanding the perspectives of all stakeholders impacted by a potential transaction in the current M&A landscape. He stressed the significance of a team well-versed in market dynamics, political/regulatory landscapes, and internal stakeholders’ mindsets.

Prosek Partners bolstered its standing by supporting HPS Investment Partners in its acquisition by BlackRock, representing PE firm Veritas Capital in the proposed recapitalization of Cotiviti, and working for Vista Equity Partners in announcing the acquisition of PowerSchool by Bain Capital. Jen Prosek provided insights into the anticipated uptick in deal volume for public and private market transactions in 2025, attributing the surge to fewer regulations under a new administration. Private markets transactions are expected to be fueled by sponsors seeking to deploy capital while capitalizing on long-held investments amidst a favorable rate environment.

In Europe, Brunswick surpassed FGS in deal volume, while FGS led in deal value. Excellera Group, an emerging Italian corporate and financial entity, witnessed both its brands—Barabino & Partners and Community—claiming top spots in the region. The combined efforts of these two brands would have secured Excellera the top position. Noteworthy deals included Hitachi Rail/Thales Ground Transportation System, Almaviva/Iteris, and Blackrock/HPS Investment.

In the arena of corporate activism, Bloomberg reported a slight decline in 2024 with 745 new activist campaigns, marking a 10% decrease from the previous year. Joele Frank emerged as the global leader, spearheading 67 campaigns, followed by FGS Global, Brunswick Group, FTI Consulting, and Longacre Square Partners. Campaigns focused on instigating changes in the boardroom and C-suite as well as advocating for M&A in light of anticipated regulatory shifts.

Longacre Square retained its position as a top advisor to activist groups, engaging in 117 campaigns, including those against Texas Instruments and Pfizer. Gasthalter & Co followed suit, participating in 37 campaigns, while Greenbrook Communications, Gagnier Communications, and Prosek Partners were also actively involved. Joele Frank led the defense efforts in the US, Brunswick in Europe, and Sodali & Co in Asia-Pacific.

Lastly, in the realm of bankruptcy, Kekst CNC emerged as the leader in 2024, exemplifying their prowess in guiding clients through bankruptcy processes.