Permira explains why it bought Hong Kong’s Tricor

The private equity firm is looking to grow this cash-generative business via acquisitions, justifying the steep valuation it paid to fend off Vistra and Link.

Permira is looking to take its recent acquisition, Hong Kong-based Tricor, and bolt on more purchases in the highly-fragmented business services industry in the region, executives at the private equity firm told FinanceAsia.

“It is still a very fragmented market both in Asia and beyond, and we think there is an opportunity to build the business through MA,” said Robin Bell-Jones, a partner at Permira in Hong Kong during an interview.

This would not be alien to Tricor’s corporate culture as the firm was created through a series of spinouts from the Big Four accounting firms.

Permira bid for TMF...

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