Penrose Financial has been appointed to handle European financial
PR for top three US private equity firm Hick Muse Tate and Furst.
The Dallas-based company opened its first European office in London last
month and intends to acquire or buy stakes in European companies.
Penrose’s basic fee for its first year of work is pounds 50,000, but
this is likely to increase significantly as Hicks Muse makes
acquisitions.
Penrose partners Shona Prendergast and Gay Collins will work alongside
Hicks Muse’s US-based financial PR agency Kekst and Co.
Hicks Muse has raised over pounds 6.25 billion of funds since its
formation in 1989. The company specialises in investing in US media
companies, but will be looking to acquire anything from media to
manufacturing and telecoms companies throughout Europe.
Collins said: ’This account has a lot of potential. We will work closely
with Kekst to ensure that a global PR strategy is adhered to.’
