The Firm also ranked #2 in Investor Relations/Financial PR, #2 in Technology Communications and #7 in Healthcare Communications
New York, NY – April 4, 2022 – ICR, a leading strategic communications and advisory firm, announced today that it was recognized as the fastest-growing communications firm in the U.S. in the annual O’Dwyer’s 2022 PR Firm Rankings. Based on 2021 revenue, ICR was also ranked as the 3rd largest independent firm, while its Investor Relations/Financial PR and Technology practices were both ranked as #2, and its healthcare practice as the 7th largest.
ICR, which has recorded double-digit compounded growth since its founding in 1998, recorded total firmwide revenue of $194.9 million in 2021, an increase of 83.4 percent over 2020. This growth ranks ICR as the fastest growing firm in the country according to the O’Dwyer’s rankings. The firm’s growth, further demonstrated by the hiring of more than 180 new team members in 2021, has been fueled by increased activity in all areas, including its core investor relations and public relations practices, as well as its capital markets advisory, corporate governance/ESG and creative branding groups.
In 2021, ICR’s IR and PR teams booked more than 250 assignments in the technology, healthcare, real estate, energy/sustainability, mobility, consumer, financial/professional services, healthy living, digital entertainment and fintech sectors. ICR’s transaction team acted as an advisor on more than 140 equity capital markets transactions in 2021, with a total value in excess of $250 billion – more transactions than any other firm, including over 30 percent of all go-public transactions (IPOs, SPACs and Direct Listings) in North America.
“ICR’s continued rapid growth reflects our team’s relentless dedication to providing best-in-class client service,” said Tom Ryan, Chief Executive Officer of ICR. “We believe we are a ‘Category of One’ with a unique and differentiated service model that combines capital markets veterans with communications experts to help our clients navigate any opportunity or challenge they face. This platform provides our team members with new and exciting assignments, and a clear path for career advancement. I am proud that their hard work has been recognized through this year’s list.”
In November 2021, ICR announced that it completed a significant investment from Caisse de dépôt et placement du Québec (CDPQ), a global investment group, to support ICR’s continued growth and expansion. CDPQ joins with ICR team members and Investcorp, a leading global provider and manager of alternative investment products, which remains an investor in ICR. ICR management and the broader team continue to hold a material equity interest in the Company.
The O’Dwyer’s annual Top PR Firm Rankings list measures all agencies with major U.S. operations and ranks them by worldwide fees. ICR has consistently been ranked as one of the largest communications and advisory firms in North America. The firm also has a growing presence in Asia
Established in 1998, ICR partners with its clients to execute strategic communications and advisory programs that achieve business goals, build awareness and credibility, and enhance long-term enterprise value. The firm’s highly-differentiated service model, which pairs capital markets veterans with senior communications professionals, brings deep sector knowledge and relationships to approximately 1,000 clients across more than 20 industry groups. ICR’s healthcare practice operates under the Westwicke brand (www.westwicke.com). Today, ICR is one of the largest and most experienced independent communications and advisory firms in North America, maintaining offices in New York, Norwalk, Boston, Baltimore, San Francisco and Beijing. Learn more at www.icrinc.com. Follow us on Twitter at @ICRPR.