Operating thousands of miles from Capitol Hill, a company listed on a stock exchange has strategically taken the forefront in lobbying revenue, surpassing the largest traditional advocacy operation. The Public Policy Holding Co., which trades on a unit of the London Stock Exchange, is the parent of multiple companies. These comprise major DC lobbying firms representing Boeing Co., RTX Corp., Phillips 66, and Blackstone Administrative Services Partnership LP.
Federal disclosure data analysis by Bloomberg Government revealed that in 2023, units of Public Policy Holding Co. amassed lobbying revenue exceeding $69 million, toppling the law firm Brownstein Hyatt Farber Schreck LLP’s $62.7 million. Brownstein Hyatt had been the largest single revenue generator on Washington’s influence scene the previous year.
CEO Stewart Hall disclosed that Public Policy Holding Co. plans to broaden its services to include social media-driven messaging and advocacy in state and international capitals, in addition to other US markets. Hall stated, “The Beltway is no longer the center of the universe. I would say there’s nothing close to what we’ve created and what we’re going to build.”
Registered as a smaller enterprise on the Alternative Investment Market, Public Policy Holding Co. owns Crossroads Strategies LLC, Forbes Tate Partners, and the Alpine Group Inc., all of which operate as federal lobbying units.
Some of its clients include Blackstone, Boeing, RTX, and Phillips 66. Public Policy Holding Co. is also expanding into Boston with O’Neill and Associates, which does some federal lobbying. Crossroads Strategies, its primary unit, was established by Hall in 2010 after selling his previous shop.
One of the major attractions of the holding company setup, according to Joe Crosby, CEO of Arlington, Va-based MultiState, is the accessibility to an HR team and a CFO. He backed the acquisition, stating that it did not result in any day-to-day operational changes.
BGR Group, another key player in federal lobbying, recently merged with other firms into a holding company called Advocus Partners, but executives have stated that they have no plans to go public.
While Public Policy Holding Co. has been expanding, it also weathered several losses of personnel and equity value. Despite this, its chief strategy officer Thomas Gensemer remains optimistic and confident that the company has realized all its growth forecasts in its first two years in the AIM.
Looking forward, PPHC may consider listing on a US market. Stewart Hall declared, “We don’t view London as a terminal place for us in terms of our listing.”