Diana Marszalek 15 Sep 2022 // 11:00AM GMT
SAN FRANCISCO — Highwire PR has secured a strategic investment from Los Angeles-based Shamrock Capital as a means of furthering the agency’s growth.
The partnership with Shamrock will enable Highwire, a roughly $29 million a year firm, to pursue additions to its healthcare practice and build out its digital data analytics, public affairs and corporate communications capabilities.
Highwire will maintain its leadership and brand, although Shamrock reps will be joining the agency’s board.
The terms of the deal were not disclosed. Shamrock, which specializes in media, entertainment and communications companies, is the agency’s first strategic investor.
Acquisitions could be part of Highwire’s growth plans, agency leaders said. The firm bought digital consultancy Wonderscript in 2020 and tech PR shop Inner Circle Labs in 2018.
Highwire has been on a growth trajectory for much of the last three years, with year-over-year revenue rising an average of 20% over the course of that time. 2021 revenue grew to $29.3 million.
“A growth mindset defines Highwire and a values-driven culture ensures we maintain our focus on our team as we grow,” said principal and co-founder Kathleen Gratehouse. “In Shamrock, we found a like-minded partner with unmatched marketing, media and communications expertise to help us build for a new era.”