M&A Deal Summary

Permira Acquires Tricor Group

On October 5, 2016, private equity firm Permira acquired business services company Tricor Group from The Bank of East Asia and NWS Holdings for 6.5B HKD

Acquisition Highlights
  • This is Permira’s 6th transaction in the Business Services sector.
  • This is Permira’s 40th largest (disclosed) transaction.
  • This is Permira’s 2nd transaction in China.
Investment Fate
  • Tricor Group was sold to a consortium of financial buyers in 2021 for 2.8B USD.

M&A Deal Summary

Date 2016-10-05
Target Tricor Group
Sector Business Services
Buyer(s) Permira
Sellers(s) The Bank of East Asia
NWS Holdings
Deal Type Divestiture
Deal Value 6.5B HKD

Target

Tricor Group

Hong Kong, China
website
Tricor Group is a corporate services provider across 20 markets globally, with a strong presence in 13 markets in the APAC region. It offers a range of services across accounting and payroll for MNCs and SMEs, corporate governance and secretarial services for both listed and unlisted companies, and investor and share registry services. Tricor Group was founded in 2000 and is based in Hong Kong, China.

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Buyer(S) 1

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 105 of 156
Sector (Business Services) 6 of 10
Type (Divestiture) 13 of 18
Country (China) 2 of 4
Year (2016) 5 of 8
Size (of disclosed) 40 of 60
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-19 P&I

Wiesbaden, Germany

P&I is an internationally operating, full suite provider of cloud-based HR software solutions and a driver of innovation in HR technology. P&I’s scalable subscription-based platform exhibits characteristics that resonate with Hg Saturn’s core focus, with a broad, diversified and loyal customer base, and has delivered an exceptional historical operating performance. P&I was founded in 1968 and is based in Wiesbaden, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-14 Allegro

Poznan, Poland

Allegro is an online marketplace in Poland that connects consumers with merchants. With more than 20 million users per month, 13 million active buyers and 125,000 merchants. Allegro offers consumers a vibrant and expansive shopping experience, and merchants excellent commercial opportunities. The group also operates Ceneo.pl - Poland’s leading online price comparison website, and eBilet – the leading event ticket sales site in Poland. Allegro was founded in 1999 and is based in Poznan, Poland.

Buy $3.3B

Seller(S) 2

SELLER

The Bank of East Asia

Hong Kong, China

website


Category Company
Founded 1918
Sector Financial Services
Employees8,636
Revenue 17.4B HKD (2022)
DESCRIPTION

The Bank of East Asia is a provider of comprehensive commercial banking, personal banking, wealth management, and investment services to its customers in Hong Kong, Mainland China, and other major markets around the world. The Bank of East Asia was founded in 1918 and is based in Hong Kong, China.


DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
Country (China) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
SELLER

NWS Holdings

Hong Kong, China

website


Category Company
Founded 1997
Sector Infrastructure
Employees13,600
Revenue 28.2B HKD (2021)
DESCRIPTION

NWS Holdings is a infrastructure and service flagship of New World Development Company Ltd (Hong Kong stock code: 17), embraces businesses in Hong Kong, Mainland China and Macau. Its Infrastructure portfolio includes Roads, Energy, Water and Ports & Logistics projects. Its Services division comprises Facilities Management (the management of Hong Kong Convention and Exhibition Centre and Free Duty), Construction & Transport (construction and bus and ferry services) and Strategic Investments. NWS Holdings was founded in 1997 and is based in Central, Hong Kong.


DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
Country (China) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1