BPEA EQT completes $6.5 bln merger of Vistra and Tricor

Vistra, Tricor to operate as unified brand in early 2024, has completed the merger of its Hong Kong-based business services firms Vistra and Tricor, valuing the combined entity at $6.5 billion including debt, EQT said Friday.

BPEA EQT had tapped Goldman Sachs to be the lead adviser on the merger of the two companies, Reuters reported.Simon Webster, who joined Vistra as CEO in November 2022, will be the CEO of the combined business, EQT said. Hong Kong-based Tricor, founded in 2000, offers business services ranging from human resources and payroll to companies' incorporation, according toBPEA bought Tricor from private equity firm Permira in 2021 for $2.8 billion. It acquired a majority stake in Vistra in 2015 for an undisclosed sum.

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