Inflexion Private Equity is pleased to announce that its portfolio company Ocorian, a leading global financial services firm, has entered into an agreement to acquire ABAX Holding Limited (“ABAX”), an integrated advisory, corporate and business services provider based in Mauritius.
The acquisition will significantly extend Ocorian’s service range and delivery capability into Africa, Asia and the Middle East. In turn, ABAX clients will now be able to access a much wider range of specialist alternative investment, corporate and private client services, across Europe and North America.
The deal is the fourth for Ocorian in the last 6 months, following the recent acquisition of Capco together with the acquisitions of MAS and Intruad / Intruma in 2017. Each acquisition has enhanced Ocorian’s service provision to clients, whilst also extending its geographical presence in Jersey, Mauritius, Luxembourg and the Netherlands.
Ocorian has performed strongly since the original investment by Inflexion 18 months ago, increasing EBITDA by c.2.5x driven by organic growth and M&A.
The transaction is subject to regulatory consent.