BPEA EQT, the Asian private equity arm of EQT, has completed the merger between fund and corporate service provider Vistra and business expansion firm Tricor in a deal that values the combined company at an enterprise value of $ 6.5bn.
Following the receipt of regulatory approvals, the combination was completed by BPEA Private Equity Fund VIII.
Through the merger, BPEA EQT aims to develop a global fund and corporate services platform with more than 9,000 professionals in over 50 jurisdictions.
According to BPEA EQT, the transaction will also enable the firm to continue to implement its fund as well as corporate services playbook to power further organic and inorganic growth across the platform.
The combined company will facilitate customers to navigate the rising complexities of managing, operating, and growing their businesses worldwide.
BPEA EQT advisory team partner Jack Hennessy said: “We are delighted to support the merger of two leading businesses in the fund and corporate services market globally.
“Both companies have been very successful under BPEA EQT’s ownership and we are looking forward to continuing to partner with the combined platform which is even better positioned to grow globally.”
Vistra supports clients to reduce risk and improve efficiency through the provision of expert advisory and administrative support while Tricor offers the necessary foundation for customers’ business growth, from incorporation to IPO.
The merged entity, which is headquartered in Hong Kong. will be continued to be owned by BPEA EQT.
Vistra CEO Simon Webster said: “This is an exciting day for both Vistra and Tricor and it is a significant milestone in the growth strategy of both organisations. The two businesses are highly complementary and have capabilities which together offer clients a range of significant value-creation opportunities.
”Through this combination, we can provide an expanded range of products and services across a broader geographic footprint supported by best-in-class technology.”
