MILAN — SEC Newgate revenue grew 70% to €150 million in 2022, a year that saw the Milan-based communications group make a significant expansion into North America.

Organic growth accounted for 13% of the overall rise in revenue from 2021, when the firm registered €88.6 million in fee income.

On a pro-forma basis, including revenue from SEC’s two 2022 North America acquisitions — New York-based Global Strategy Group and Mexico’s Another — revenues reached €181 million, the company said.

Other 2022 highlights included continued growth in the intercompany business referrals, up 52% on average on a quarterly base with respect to Q4 of 2021. Global headcount is up to nearly 1,200 people from 700 in 2021 across more than 50 offices on five continents, with 51% of director level or above identifying as female.

“2022 has been another exceptional year which has continued the momentum and significant growth achieved in each of the last three years since the creation of SEC Newgate,” said group CEO Fiorenzo Tagliabue, who last month received a 2023 SABRE Award for outstanding individual achievement for building SEC Newgate into the global powerhouse it is today.

“Our focus over the last 12 months has been ensuring that we can offer our clients the best possible advice, consistently across jurisdictions.  Our expanded footprint across the Americas has been a key element in this strategy and our global footprint and comprehensive, integrated offering enables us to solve and manage complex reputational and policy issues for our clients as they navigate an increasingly volatile macro-economic environment,” he said.

SEC Newgate’s year-end earnings report capped the most dramatic in the firm’s history. In January 2022, it announced plans to delist and return to private ownership with support from private equity fund Three Hills Capital Partners as one of its minority shareholders, and in April it acquired a significant stake in GSG, one of the leading independent public affairs firms in the US. Before the end of the year, it had  Another, with its network of Latin American offices.

SEC Newgate bought a majority stake in Dubai firm Twister Communications in August 2021, now operating as SEC Newgate ME, and opened an Eastern European hub in Warsaw last spring.

SEC Newgate was formed in 2019 from the merger of Italian-owned public affairs firm SEC and Porta, the owner of London-based financial and corporate agency Newgate and public affairs consultancy Newington. All its operations are now either in the process of using the SEC Newgate brand, or in transition.