- EQT Mid Market invests in In.Corp Group, a leading corporate service provider in Singapore
- Strategy is to support continued growth and development of the Company, further consolidate the Singapore market, and expand regionally to create an attractive platform
- Founders/management remain significant shareholders and invest alongside EQT Mid Market
STOCKHOLM, 26-Apr-2016 — /EuropaWire/ — The EQT Mid Market Fund (“EQT Mid Market”) has invested in In.Corp Group (“the Company”). Founders and the existing management team of In.Corp, under the leadership of Co-Founder and CEO Mr. Atin Bhutani and COO Mr. Satish Bakhda, will continue to drive growth and development of the Company.
In.Corp Group has been formed by combining a number of leading service providers in Singapore, the largest of which is Rikvin, one of the most established and recognized operators in Singapore with close to 20 years of successful operating history and more than 3,000 customers. Through this combination, In.Corp is able to now offer a comprehensive suite of services—from entity incorporation to accounting, tax, company secretarial, compliance and other advisory services—to clients from around the world. Known for its quality, responsiveness, competitive pricing, and strong knowledge base, In.Corp has long-standing relationships with clients and a loyal customer base. Approximately 3/4 of existing customers are from overseas, the majority of whom are international companies setting up corporate entities in Singapore to conduct business in the region.
Mr. Atin Bhutani, Co-Founder and CEO of In.Corp Group, said: “We are excited to work with EQT and its global network of Industrial Advisors. With its industrial and operational growth-focused approach, EQT is an ideal partner for In.Corp as we continue to develop superior services to our clients and realize our vision of becoming a regional market leader offering integrated end-to-end corporate solutions to clients around the world.” Mr. Satish Bakhda, COO of In.Corp Group, added: “We look forward to working closely with In.Corp and EQT to further grow the combined businesses. We are thrilled to be part of a platform pursuing regional growth strategy that builds up on our solid Singapore market understanding.”
“We are impressed by In.Corp’s highly entrepreneurial and ambitious founders, its market leadership position in the attractive corporate service space in Singapore, and its focus on delivering high quality services. EQT looks forward to deploying its global resources to support In.Corp’s growth and development strategy to realize its full potential,” says Mr. Tak Wai CHUNG, Partner at EQT Partners, Investment Advisor to EQT Mid Market.
The parties have agreed to not disclose the transaction value.
Tak Wai CHUNG, Partner at EQT Partners, Investment Advisor to EQT Mid Market +65 6595 1834
Kerstin Danasten, EQT Press Officer +46 8 506 55 334
EQT is a leading private equity group in Europe with approximately EUR 29 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and approximately 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For further information, please visit www.eqt.se
About In.Corp Group
In.Corp Group is a leading Singapore-headquartered full-service corporate solutions provider specializing in corporate compliance, accounting, taxation, incorporation, and advisory services to clients from around the world.
For further information, please visit http://www.indotcorp.com/