NEW YORK: Teneo Holdings has acquired Fitzroy Communications, the firm founded more than four years ago by former Goldman Sachs corporate comms chief Lucas van Praag, with plans to merge it into its Teneo Strategy division, the firms said on Wednesday morning.
The entire Fitzroy team will join Teneo Strategy, dropping the Fitzroy brand. Van Praag, managing partner at Fitzroy, will report to Teneo Holdings CEO Declan Kelly as senior MD.
"Having brought Fitzroy to a certain point, the idea of working with an organization like Teneo, which is both entrepreneurial and has significant scale, became very attractive," said van Praag.
Van Praag founded Fitzroy in 2012 as a communications and investor relations firm after a 12-year tenure as head of corporate communications at Goldman Sachs.
Teneo Strategy, which is focused on corporate, crisis, and financial communications, is one of 12 divisions in the company, which acquired Irish agency PSG Communications last year. The firm has bought other U.K. agencies in the last two years, including Blue Rubicon, Pendomer, and Stock Well. Teneo declined to comment on the acquisition.
Jason Miller, communications director for President Donald Trump’s 2016 campaign, joined Teneo Strategy in January as MD.
The connection between Teneo, which was founded by former Clinton White House aide Doug Band, and President Bill Clinton and former Secretary of State Hillary Clinton was scrutinized last year after emails from Band were made public by WikiLeaks.
Editor's note: van Praag writes the Ask Lucas... column for PRWeek.