Kirkland & Ellis Advises GTCR and Cision on Acquisition of PR Newswire

Kirkland & Ellis LLP represented GTCR and its portfolio company Cision, a leading provider of media intelligence tools to public relations professionals, which announced today it has signed an agreement to acquire PR Newswire for $841 million, comprising $810 million in cash and $31 million preferred equity (as valued by UBM plc on a fair value basis) from UBM plc. PR Newswire is a global leader in PR and investor relations communications, connecting over 30,000 customers to their target audiences through the largest global distribution network of its kind. More information on the transaction is available here and here.

The Kirkland team was led by corporate partners Stephen Ritchie and Mark Fennell and associate Justin Petzold, and debt finance partner Christopher Butler and associate Thomas Dobleman.