Public Policy Holding Company, Inc. has acquired The Advocacy Partners, a leading Florida government relations firm, in a deal valued at up to $75 million.
The acquisition, completed Aug. 1, 2026, establishes PPHC in Florida, the fourth-largest US state economy, and adds a bipartisan practice with $9.5M in net revenue and 48% profit margins in 2025.Initial consideration was $20.4 million, comprising $18.36M in cash and $2.04M in shares.
Future earnouts of up to $54.6M are contingent on profit growth through 2030.The Advocacy Partners, co-founded by Slater Bayliss and Stephen Shiver, will retain its brand and team.
The deal builds on PPHC’s state-level strategy following prior moves in California and Texas, and expands its integration with MultiState’s coast-to-coast lobbying network.
Stewart Hall, CEO of PPHC, commented: “Led by two founders who built a high-margin business serving a blue-chip client base in one of America’s most important policy markets, we are very excited to welcome The Advocacy Partners to PPHC. What excites us most is the people, the relationships, and the opportunities it creates. Slater, Stephen, and their team have spent more than two decades building one of the most trusted, senior and respected practices in Florida, and a firm whose clients stay because the counsel is consistently exceptional. For our clients, this Acquisition unlocks integrated, senior-level advocacy in a state that increasingly drives national policy debates. Combined with our other U.S. State Government Relations assets nationally, this gives clients a coast-to-coast state government affairs offering that no other can match.”
Slater Bayliss, Co-Founder, The Advocacy Partners, commented: “For more than two decades, we have built The Advocacy Partners around the conviction that great government relations work begins and ends with people. The team you put in front of clients and the trusted relationships those professionals carry into the rooms that matter. PPHC shares that conviction. Joining the Group allows us to keep doing what we do best for our clients while adding the breadth of a federal team, a national sector practice and an international network that materially expands what we can deliver. We are excited about the opportunities this creates for our colleagues, for our clients and for the next generation of leaders we are building at the Firm.”
Stephen Shiver, Co-Founder, The Advocacy Partners, added: “Over the years, we have had conversations with a number of organizations, but the people at PPHC made this opportunity stand out. We share a core belief that relationships matter, culture matters, and reputation is earned over decades, not transactions. We are joining an organization that appreciates the foundation that has made TAP successful and wants to build on it."
