Acclime, a Hong Kong-based advisory and corporate services firm, has selected a handful of bidders to submit binding offers for the company, in a deal that could value the firm at more than $900 million, three people with knowledge of the transaction said.
KEY DETAILS
- Global buyout firms including KKR & Co, TPG and Warburg Pincus (WP.UL) are into the second round of the Acclime bidding process, the people said. The three firms declined to comment.
- The bidders are valuing the firm at high teens to 20 times its core earnings, said one of the people, adding that Acclime could reach a valuation of close to $1 billion.
- Acclime has hired Deutsche Bank to run the sale process, and wants to wrap the deal by end-2025, the people said. Acclime did not immediately respond to a Reuters request for comment. Deutsche Bank declined to comment. The people could not be named as the information was confidential.
CONTEXT
- Acclime was founded in 2019 by Martin Crawford and Debby Davidson to help corporations navigate Asia’s complex markets, its website shows.
- Investment manager Barings provided senior secured credit facilities totalling more than $150 million in May 2024 to support Acclime’s continued expansion, the firm announced at the time.
- Acclime operates across the Asia-Pacific and has offices in Mauritius, Seychelles, UAE, and Samoa, according to its website.
