M&A Deal Summary

Baring Private Equity Asia Acquires Tricor Group

On November 2, 2021, private equity firm Baring Private Equity Asia acquired business services company Tricor Group from Permira for 2.8B USD

Acquisition Highlights
  • This is Baring Private Equity Asia’s 5th transaction in the Business Services sector.
  • This is Baring Private Equity Asia’s 4th largest (disclosed) transaction.
  • This is Baring Private Equity Asia’s 9th transaction in China.

M&A Deal Summary

Date 2021-11-02
Target Tricor Group
Sector Business Services
Buyer(s) Baring Private Equity Asia
Sellers(s) Permira
Deal Type Secondary Buyout
Deal Value 2.8B USD

Target

Tricor Group

Hong Kong, China
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

Baring Private Equity Asia

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Baring Private Equity Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. Baring Private Equity Asia was formed in 1997 and is based in Hong Kong.


DEAL STATS #
Overall 40 of 43
Sector (Business Services) 5 of 5
Type (Secondary Buyout) 13 of 14
Country (China) 9 of 9
Year (2021) 3 of 3
Size (of disclosed) 4 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 Virtuos

Singapore, Singapore

Virtuos is a global video game development company that specializes in game development and 3D art production for AAA consoles, PC, and mobile titles. Virtuos was founded in 2004 and is based in Singapore City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-31 CMS Info Systems

Mumbai, India

CMS Info Systems provides IT & outsourced business services across India. The company offers a wide bouquet of services across the value chain, focusing on retail banks, insurance, telecom, retail, PSU and Government segments. CMS Info Systems was founded in 2008 and is based in Mumbai, India.

Sell -

Seller(S) 1

SELLER

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


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 82 of 89
Sector (Business Services) 5 of 6
Type (Secondary Buyout) 22 of 28
Country (China) 2 of 2
Year (2021) 7 of 8
Size (of disclosed) 8 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-29 Yogiyo

Seoul, South Korea

Yogiyo is an online food delivery platform allows users to order food from their favorite restaurants. Yogiyo is based in Seoul, South Korea.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-08 McAfee

San Jose, California, United States

McAfee delivers proactive and proven security solutions and services that help secure systems and networks around the world, McAfee protects consumers and businesses of all sizes from the latest malware and emerging online threats. McAfee's solutions are designed to work together, integrating anti-malware, antispyware, and antivirus software with security management features that deliver unsurpassed real-time visibility and analytics, reduce risk, ensure compliance, improve Internet security, and help businesses achieve operational efficiencies. McAfee was formed in 1987 and is based in San Jose, California.

Buy $14.0B