Broad Sky Partners makes majority investment in Bully Pulpit Interactive
Summary
NEW YORK: Private equity firm Broad Sky Partners has made a significant investment in strategic communications and public affairs agency Bully Pulpit Interactive (BPI), effective this week.The firm aims to help BPI expand its services base and enter new markets organically and with mergers and acquisitions through Broad Skys network, industry expertise and robust value creation capabilities, according to a statement from the firm.Organizations today are consolidating responsibilities across communications, public affairs, internal communications, sustainability and more, BPI president Andrew Bleeker said. Our new partnership with Broad Sky Partners will fuel this next chapter of growth.The investment will also support further development of proprietary platforms to measure impact and the growth of BPIs employee base as the agency continues to build momentum on its industry-leading talent advantage, the agency said in a statement.Broad Sky has long been assessing the communications space, and we believe that BPI is positioned to continue leading the industry thanks to their impressive leadership, talented team, proprietary technology, and outstanding impact for clients, partner at Broad Sky Partners Jodi Kahn said.No leadership changes occurred as a result of the investment.Berenson & Co. served as financial adviser and Morrison Cohen LLP served as legal adviser to Broad Sky. Financial terms of the transaction were not disclosed.BPIs previous lead sponsor was Svoboda Capital Partners (SCP). Lyft and Whole Foods alum Brian McGuigan joined the firm as an MD in March.BPI partner Ben LaBolt entered the Biden administration as White House communications director in February and former MD Xochitl Hinojosa joined the Department of Justice as director of the office of public affairs.Broad Sky Partners is a New York-based private equity firm that partners with leading middle market business services and consumer companies. The firms other partner companies include Thomas Scientific, Smith+Howard and Fair Harbor.BPI has more than 200 full-time employees across offices in Washington, DC, Chicago, San Francisco and New York, in addition to its remote workforce.