Precision Strategies, a very well-connected and powerful firm with Democrat leanings, is potentially looking to sell as they are in preliminary talks with potential buyers, according to reports.
The firm was originally co-founded in 2013 by Jen O’Malley Dillon, President Joe Biden’s deputy chief of staff, and Stephanie Cutter, who was a top adviser for Building Back Together, a Biden sanctioned group. They were also joined by Teddy Goff, who is an alumnus of former President Barack Obama’s reelection campaign.
Politico reported that according to a person familiar with the events, there were recent talks to sell the company since the firm’s profile has “risen following Biden’s victory.”
After the firm’s inception, O’Malley Dillon (pictured) left to join the one-time failed presidential hopeful and former Texas Democrat Rep. Beto O’Rourke’s campaign in 2019. Since then, O’Malley Dillon reportedly does not have any stake in the company, though she had “reunited with Cutter and Goff for a live event hosted by the firm in December ahead of Biden’s inauguration.”
Cutter had even helped with the production of the stagnant 2020 Democrat National Convention that was condemned to Zoom as theater for their Chinese coronavirus response agenda. She also helped with Biden’s Inauguration. Cutter has reportedly been trying to “re-publicize” her help with the events to try and win an Emmy.
Precision has also done work for the Democratic National Committee, nonprofits, corporate clients such General Electric and Lyft and the Independent Restaurant Coalition, which successfully pushed Congress to set up a restaurant relief effort during the pandemic.
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At a time when the political world is still adjusting to the Biden era, Precision provides some major muscle with the party in power. Its acquisition would also continue a long Washington, D.C., tradition of big firms snapping up smaller ones with ties to a new administration.
The public affairs firm Hill & Knowlton, for instance, bought a lobbying firm run by President George H.W. Bush’s former chief of staff, Craig Fuller, during Bush’s first term. During the younger Bush’s first term, the British conglomerate WPP bought a lobbying firm co-founded by Ed Gillespie, who was a top aide to President George W. Bush’s campaign and later went to work in his White House. And earlier this year, the consulting firm Teneo bought a stake in WestExec Advisors, a firm co-founded by Secretary of State Tony Blinken that’s seen several of its former staffers go into the Biden administration.
“It’s unclear whether the firm ultimately will decide to sell and Precision declined to comment for this story. But two people familiar with the conversations said Cutter has discussed the possibility with associates,” Politico reported.
WPP apparently owns dozens of Washington firms and those around the world. The group has allegedly been in purchasing talks with Precision, which Politico reports, per one person familiar with the matter. Tom Reno, the COO of Precision, at one point worked for another firm owned by WPP, Burson Cohn & Wolfe. WPP had not responded to Politico for a comment by the time of the report’s publication.
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