BPEA EQT, part of Swedish private equity firm EQT , said on Friday it 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.
BPEA bought business expansion specialist Tricor from private equity firm Permira in 2021 for $2.8 billion. The firm had acquired a majority stake in Vistra in 2015 for an undisclosed sum. Simon Webster, who joined Vistra as CEO in November 2022 will be the CEO of the combined business, BPEA EQT said.
In a separate statement, Vistra said the company and Tricor will begin to operate as one unified brand in early 2024 and will continue to be owned by BPEA EQT.
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