British PR man to get £35m payday as Teneo buys Tulchan

UK financial PR firm acquired by US group in a deal valuing business at more than 70m

The founder of Tulchan is set for a 35m payday after selling the London-based financial and corporate PR firm to rival global advisory Teneo.

Teneo, the US PR firm acquired by the private equity group CVC in a $700m deal in 2019, is understood to have acquired Tulchan in a deal that values the business at more than 70m.