London PR Firm Camarco Bought By International Rival Apco

City of London public relations firm Camarco has been bought by larger American business Apco Worldwide LLC, the latest deal in a wave of consolidation in the corporate communications industry.

Camarco, whose clients include the New York activist Elliott Management and Bain Capital, was established in 2014 by three former partners from FTI Consulting. The total value of the deal is estimated to be more than £20 million ($24.5 million), according to people familiar with the situation. It is set to be announced Tuesday morning.

Camarco is the latest London PR firm to be bought by a ...