M&A Deal Summary

TA Associates Acquires InCorp

On May 7, 2021, private equity firm TA Associates acquired business services company InCorp from EQT

Acquisition Highlights
  • This is TA Associates’ 12th transaction in the Business Services sector.
  • This is TA Associates’ 1st transaction in Singapore.

M&A Deal Summary

Date 2021-05-07
Target InCorp
Sector Business Services
Buyer(s) TA Associates
Sellers(s) EQT
Deal Type Secondary Buyout

Target

InCorp

Singapore, Singapore
InCorp is a provider of professional corporate solutions for businesses with a presence in seven markets across Asia. InCorp specializes in a full range of professional services for companies planning to establish a hub or headquarters in Asia, including incorporation, corporate secretarial & compliance, share registry, accounting, taxation, human resources, corporate recovery, and other business advisory services. InCorp was fored in 2015 and is based in Singapore.

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Buyer(S) 1

Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 326 of 374
Sector: Business Services M&A 12 of 13
Type: Secondary Buyout M&A Deals 57 of 74
Country: Singapore M&A 1 of 1
Year: 2021 M&A 12 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Exeter Property Group

Conshohocken, Pennsylvania, United States

Exeter Property Group specializes primarily in industrial real estate across the U.S. and Europe through an array of Value-Add and Core return investment vehicles, as well as managed accounts. Exeter Property Group is based in Conshohocken, Pennsylvania.

Sell $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-10 Radiant Logic

Novato, California, United States

Radiant Logic is a provider of federated identity and directory services. Radiant Logic provides federated identity software based on virtualization, and delivers simple, logical and standards-based access to all identities within an organization. Radiant Logic was founded in 1995 and is based in Novato, California.

Buy -

Seller(S) 1

SELLER

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 143 of 194
Sector: Business Services M&A 5 of 8
Type: Secondary Buyout M&A Deals 42 of 61
Country: Singapore M&A 3 of 3
Year: 2021 M&A 5 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-23 First Student

Cincinnati, Ohio, United States

First Student is a student transportation service provider in North America, providing over 900 million student journeys a year at approximately 1,000 school districts. The Company has 48,000 employees who operate a fleet of over 42,000 school busses and provide an essential service to North American students. First Student is based in Cincinnati, Ohio.

Buy $4.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-10 StormGeo

Bergen, Norway

StormGeo is a provider of software-based decision support for weather sensitive operations. StormGeo was founded in 1997 and is based in Bergen, Norway.

Sell Nkr3.6B