Public Policy Holding Company Acquires The Advocacy Partners for up to $75M
Public Policy Holding Company (PPHC) announced the completion of its acquisition of The Advocacy Partners (TAP), a leading Florida government relations firm. The acquisition, which closed on August 1, 2026, is immediately earnings and margin accretive. TAP reported $9.5 million in net revenues and $4.6 million in profit before tax for 2025. PPHC paid an initial consideration of $20.4 million and may pay up to an additional $54.6 million in earnouts, bringing the total potential consideration to $75 million.
Key Highlights
- Acquired The Advocacy Partners (TAP), a Florida government relations firm, on August 1, 2026.
- TAP reported unaudited net revenues of $9.5 million for the year ended December 31, 2025.
- TAP's unaudited profit before tax was $4.6 million (48% margin) for the year ended December 31, 2025.
- Initial consideration of $20.4 million was paid, comprising $2.04 million in new common shares and $18.36 million in cash.
- Future earnout payments could reach up to $54.6 million, contingent on TAP's profit growth through 2030.
- The maximum aggregate consideration for the acquisition is $75 million.
- The acquisition is immediately earnings and margin accretive for PPHC.
Price Impact
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PPHC Acquires The Advocacy Partners for up to $75M; Adds $9.5M Revenue