Teneo buys London and Singapore based PR firm Tulchan

11 January 2023 Consultancy.asia 2 min. read

Global consulting firm Teneo has strengthened its communications capabilities with the acquisition of Tulchan, a communications and public relations specialist with offices in London and Singapore.

Tulchan has a team of over 70 professionals, with around 15 based in Singapore. They now join the Singapore wing of Teneo, which operates out of an office in new business district, Marina Bay.

According to media reports, Teneo paid over £65 million for Tulchan. The deal lifts the size of its communications and public relations practice to 200, with firm-wide headcount now at 1,600 staff across 50+ offices worldwide.

Teneo buys London and Singapore based PR firm Tulchan

Tulchan provides public relations services during periods of major change, including mergers & acquisitions, public offerings, and corporate reputation issues. The firm was founded in the United Kingdom in 2000, and entered Singapore around ten years ago.

Commenting on the deal, Teneo chief executive Paul Keary said: “Today marks a significant milestone in the continued growth of Teneo. The Tulchan team are highly respected advisors who will help expand the breadth and depth of our communications services in London, Singapore and around the world.”

The bolt-on builds on previous acquisitions Teneo closed in the landscape, including the purchase of Blue Rubicon and Stockwell. In the financial communications space, private equity-backed Teneo competes with the likes of Brunswick, FTI Consulting and FGS Global, the WPP-backed group that has been formed by recent mergers of multiple firms around the world.

Andrew Grant, Senior Partner at Tulchan, said: “For more than 22 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.”

“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 with Teneo’s platform will transform the expertise we can bring to our clients, as well as offer outstanding new opportunities for our colleagues.”

With revenues of $500 million, Teneo is one of the world’s larger consulting groups. The firm is also active in the management consulting, financial advisory and restructuring segments.