APCO Secures Funding to Remain Independent Agency

D.C.-based APCO Worldwide has reaffirmed its commitment to moving forward as an independent, thanks to a buyout of existing minority shareholder WindRiver with support from longtime banking partner Citibank and private credit company Monroe Capital, which will provide additional capital to fuel the firm’s growth plans, states The Holmes Report, which added that the announcement puts an end to years of speculation about how APCO would extricate itself from its relationship with private equity investor WindRiver, which was believed to own about 30% of the public affairs firm. There had been rumors linking APCO with acquirers ranging from WPP to Deloitte to Teneo Holdings.