Kirkland & Ellis’s London office has secured another lucrative deal, solidifying its relationship with global investment firm KKR & Co. Inc. The latest transaction involves KKR’s acquisition of a 50% stake in the British public relations agency FGS Global from WPP Plc, a deal valued at $775 million. This move will see KKR owning an 80% stake in the communications firm, which is now valued at $1.7 billion. For more details, you can access the announcement here.
The Kirkland team advising KKR is led by newly minted UK corporate partners Alvaro Membrillera, Pelin Demirdere Eski, and Adam Wollstein, along with debt finance partners Ian Barratt and his team. This deal highlights Kirkland’s aggressive recruiting strategy in London, a city where top US law firms are fiercely competing to attract and retain top talent. Membrillera, a notable acquisition for Kirkland, was poached from another leading firm last year, underscoring the firm’s ongoing efforts to fortify its position in the competitive legal market.
The engagement of Kirkland & Ellis and Baker McKenzie in this high-profile transaction demonstrates the firm’s growing influence and capabilities in the UK legal landscape, particularly in managing complex, high-value deals. This development is significant as it reflects how US law firms are not just participating but increasingly dominating the European market through strategic recruitments and successful deal closures.