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Public Policy Holding Co Inc on Monday said it has agreed to acquire Texas-based strategic consultancy Pine Cove Capital for up to $13 million, marking an expansion into a key state market seen as critical to the group’s US growth strategy. The Washington, DC-based group of advisory firms specialising in government affairs and public relations said it will pay an initial $3 million, comprising $2.55 million in cash and $450,000 in new shares. Further earnout payments are contingent on profit growth through 2028 and could lift the total price to $13.0 million. The acquisition is expected to complete in August and be immediately earnings accretive. The business will be renamed Pine Cove Strategies and led by Commissioner George P Bush, a former Texas land commissioner and US Navy intelligence officer. Based in Austin, Pine Cove provides strategic consulting to clients ranging from start-ups to Fortune 500 firms. It reported $1.6 million in revenue and $700,000 in pretax profit for the year to May 31. PPHC said the deal aligns with its aim to build state-level lobbying capabilities, complementing federal services. Texas, it added, is a top priority due to its economic size and political influence. Pine Cove will become PPHC’s third state-level unit, joining KP Public Affairs in California and O’Neill & Associates in Massachusetts. Shares in Public Policy Holding were up 3.7% to 167.00 pence in London on Monday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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