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IK Investment Partners buys Carlyle's Offshore Incorporations.

MANews-(C)2009-2011

European private equity firm IK Investment Partners on Thursday said it has bought Asian company formation and associated services group Offshore Incorporations from The Carlyle Group for an undisclosed sum.

Reuters reported earlier that bids for the group ranged between USD250m (EUR177m) and USD300m.

The Offshore Incorporations group comprises OIL, a top company formation specialist in Asia, corporate services provider Acceptor and trust and fiduciary services firm Credence Trust.

IK said in a press release it would combine Acceptor and Credence Trust with its portfolio company Vistra, providing fund administration, trust and corporate services in Europe, in a move to create a leader in the global trust and corporate services sector, with a staff of 500 employees.

OIL will operate independently, the buyer added.

The move will boost Vistraa[euro](tm)s presence in mainland China and expand OIL into new markets in the Americas, Indonesia and India, IK said.

Royal Bank of Scotland (LON:RBS) advised IK on this transaction.Country: , AsiaSector: Business and Consumer Services, Banking/Financial ServicesTarget: Offshore Incorporations group of companiesBuyer: IK Investment Partners Vendor: The Carlyle Group LPDeal size in USD: 250m-300mType: LBOStatus: ClosedBuyer advisor: Royal Bank of Scotland Group PlcComment: Acceptor and Credence Trust to tie-up with Vistra., Deal size refers to value of bids for the assets reported by Reuters.

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Publication:M & A Navigator
Date:Mar 24, 2011
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