HONG
KONG /PRNewswire/ -- Vistra Group (the "Group" or
"Company"), one of the world's leading providers of company
formations, trust, corporate and fund administration services,
today announced its majority shareholders, IK Investment Partners
through its IK 2007 Fund, and Vistra Group management, have reached
an agreement whereby Baring Private Equity Asia ("Baring Asia")
will acquire a majority stake in Vistra Group. The Vistra Group
management team will continue to hold a significant shareholding in
the Company after completion. The completion of the transaction is
subject to regulatory approvals. The parties have agreed not to
disclose the financial terms of the transaction.
Baring Asia is
one of the largest and most established independent private equity
firms in Asia and
advises funds that manage more than USD9
billion in committed capital. The firm runs a panAsian
investment program, sponsoring management buyouts and providing
growth capital to companies for expansion or acquisitions.
Commenting on the acquisition, Martin
Crawford, CEO of Vistra Group, said, "Partnering with Baring
Asia is an exciting step for Vistra Group. With Baring Asia's
support we will be able to further enhance our leading position in
a consolidating industry. We are delighted that Baring Asia has
demonstrated a strong commitment to the growth of Vistra's business
as well as to our exceptional people who have been instrumental to
our success."
"With
IK Investment Partners' help we have built Vistra Group into one of
the top four corporate trust service providers globally and the
number one in Asia,
and I would like to thank them for their contribution and
commitment over the past six years," Mr Crawford added.
Jean Eric
Salata, Founder and CEO of Baring Asia, added, "Vistra has a
winning management team running a solid business with great
potential. We look forward to helping management achieve its vision
of continuing to grow Vistra as a global market leader."
Remko
Hilhorst, Partner of IK Investment Partners, added, "We are
privileged to have been a part of Vistra's strong success over the
past six years. Vistra quadrupled in size under our ownership and
became a global leader in its field. Together with the leadership
team, we have accomplished our goal of creating value through
organic growth and a number of strategic acquisitions in several
high growth geographies such as Asia and
Central and Eastern
Europe. Vistra Group has a very exciting future ahead, and
we wish the business continued success going forward."
JP
Morgan, Morgan Stanley and Lazard acted as financial advisors
and Clifford
Chance as legal advisor to the Company and IK
Investment Partners; Goldman Sachs, Credit Suisse and Linklaters
advised Baring Private Equity Asia.
For further information, please contact:
Vistra
Group
Joanna Donne, Brunswick Group
Email: [email protected]
Telephone: +852 9221 3930
Baring
Private Equity Asia
Richard
Barton, Newgate Communications
Email: [email protected]
Telephone: +852 9301 2056
IK
Investment Partners
Charlotte
Laveson Girard
Email: [email protected]
Telephone: +44 207 304 7136
About Vistra Group
Ranked
among the top four corporate service providers globally, Vistra
Group is a versatile group of professionals, providing a uniquely
broad range of services and solutions. Our capabilities span across
company formations to trust, fiduciary and fund administration
services. Comprising two key brands, Vistra and OIL, the Group
employs over 1,300 employees in 46 offices across 35
jurisdictions.
For more information,
please visit: www.vistragroup.com, www.vistra.com and www.oilglobal.com
About Baring Private Equity Asia
Baring
Private Equity Asia is one of the largest and most established
independent private equity firms in Asia and
advises funds that manage more than USD9
billion in committed capital. The firm runs a panAsian
investment program, sponsoring management buyouts and providing
growth capital to companies for expansion or acquisitions.
The
firm has been investing in Asia since
its formation in 1997 and has over 110 employees located across
seven offices in Hong
Kong, Shanghai, Beijing, Mumbai, Singapore, Jakarta and Tokyo.
Baring Asia currently
has over 30 portfolio companies across Asia with
a total of 95,000 employees and sales of
approximately USD30
billion in 2014.
For more information,
please visit: www.bpeasia.com
About IK Investment Partners
IK
Investment Partners ("IK") is a Pan-European private equity firm
focused on investments in Europe.
Since 1989, IK Funds have raised more than Euro 7
billion of capital and invested in close to 90 European
companies. IK Funds invest together with management teams in
mid-sized companies that have strong improvement potential,
operating in the business services, care, industrial goods and
consumer goods sectors. The current portfolio comprises 21
companies.
For more information,
please visit: www.ikinvest.com