EQT invests in Singapore's In.Corp Group

Terms of the transaction and EQT's ownership stake were not disclosed. The investment was made by the firm's mid-markets division, which typically commits EUR40-100 million ($45-113 million) per deal in Southeast Asia.

According to a statement, In.Corp's founders and management team will remain significant shareholders, investing alongside EQT. Co-founder and CEO Atin Bhutani and COO Satish Bakhda are expected to retain leadership of the company.

"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," said Tak Wai Chung, a partner and mid-market advisor at EQT.

In.Corp specializes in corporate compliance, accounting, incorporation and advisory services for international companies setting up entities in Singapore. The company was formed by combining a number of domestic corporate service providers, including Rikvin, which has claimed more than 3,000 customers since 1998.

EQT's private equity investments focus on buyouts and growth equity in family and entrepreneur-owned businesses, corporate orphans and public-to-private transactions. Recent activity in the Asian corporate services space has otherwise included the purchase of Elevate, a Hong Kong-based group targeting the testing, inspection and certification market.

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• Topics
• Southeast Asia
• Support services
• Expansion
• Singapore
• professional services
• EQT Partners