Investment Firm Backs Dutko Expansion Plans
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Investment Firm Backs Dutko Expansion Plans

Lobbying and public affairs firm The Dutko Group has agreed to be acquired by a Chicago investment firm in a $50 million deal.

Paul Holmes

WASHINGTON, D.C.—Lobbying and public affairs firm The Dutko Group has agreed to be acquired by a Chicago investment firm in a $50 million deal.

Lake Capital will purchase the Dutko Group over five years, with the Washington firm’s current partners retaining 10 percent of its equity, according to published reports, which say Dutko plans to use the money to launch a domestic and international expansion with an eye toward providing clients with broader public affairs consulting on state, national and international issues.

“What we’re trying to do is continue the growth that we’ve had, and we’ve decided it’s taken us as far as we could with the sweat of our own brow,” says Mark Irion, Dutko’s president and senior managing partner. The firm, which had revenue last year of $18 million, aims to become “the first really national and international public policy management firm,” he said.

Lake Capital, which has about $500 million in venture capital funds, focuses on professional services firms, putting  $50 million to $75 million into a firm over a three-to-five-year period to finance internal growth and acquisitions.

The Dutko Group has 50 employees in Washington, and offices in Denver, Boston, Des Moines and Las Vegas. It plans to open an Atlanta office later this year, and move into California and London or Brussels in 2004.

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