Teneo continues its buying spree with fourth acquisition of 2017
Teneo CEO Declan Kelly announced the acquisition of Credo.
Teneo has acquired a 60-person management consultancy called Credo in its fourth acquisition of the year.
The deal takes Teneo's global headcount to 670 employees, including Credo’s operations in London and Dubai.
It follows the 2017 acquisitions of Brussels consultancy Cabinet DN, Hong Kong's Ryan Financial and New York firm Fitzroy Communications.
In the UK, Teneo’s lobbying clout is concentrated in Teneo Blue Rubicon, known as TBR in the industry.
TBR incorporates the agency previously known as Open Road. In the past year, it hired David Cameron’s former communications chief Craig Oliver as a senior managing director and brought in Beth Armstrong, former special adviser to leading Vote Leave campaigner Michael Gove.
The UK lobbying team also gets a helping hand from Teneo’s Brussels office and from Teneo Intelligence, a global political risk consultancy which has specialists who look at all of the EU member states.
"The combination of London, the public affairs team in Brussels and Teneo Intelligence who do the EU 27 means that we’ve got a very interesting set of perspectives on the whole of the Brexit saga as it unfolds," Teneo Blue Rubicon UK public affairs chief Graham McMillan told PAN earlier this year.
The latest transaction represents a major expansion of Teneo’s consulting division which is led by chairman Chris Wearing and president Alex Pigliucci.
"Today’s acquisition will help further the expansion of Teneo’s global management consulting capabilities in response to client demand,” said Declan Kelly, chairman and CEO of Teneo. “We are very pleased to welcome the Credo team to Teneo. They have a very strong reputation for delivering results for clients and will be a great addition as our business continues to grow."