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Capricorn Capital makes push into corporate services sector with acquisition of A-Pass in Hong Kong

First acquisition in APAC
*Traditional Chinese version to follow

Hong Kong, 23 September 2019 - Capricorn Capital Partners HK Limited, the Hong Kong arm of the family-owned global direct private investment business Capricorn Capital Group, has made its first acquisition in Asia, taking a majority stake in Asia-Pacific Accounting & Secretarial Services Limited (A-Pass) in Hong Kong, spearheading a long-term commitment to investing in the corporate services sector in the region.

A-Pass was founded in 2006 by Andrew Burgin, a UK national born in Hong Kong, and since then the firm has grown into a well-respected provider of corporate formation, secretarial, accounting, taxation reporting, trade and payroll services. Capricorn Capital acquired 67% and the firm has already made a number of key strategic hires to bolster the platform, with an expectation of doubling the team by the end of the year. It has also upgraded key software and hardware and launched a new more contemporary branding and vision.

Capricorn’s Hong Kong-based Director Robin Harris, said, “A-Pass is a very appealing partner for companies in Hong Kong because it offers the professional standards of one of the large global firms but with the flexibility and personal touch of a more focused team, under Andrew’s strong leadership.

“Capricorn is already invested in the corporate services sector in Europe and we are big users of these services around the world so we will be able to bring our significant global expertise to help A-Pass continue to grow and operate more efficiently.”

Andrew Burgin, who will remain in the role of MD, said, “This is a very exciting turning point for A-Pass. I have steered the growth of the company for over a decade and now it is time for a new injection of ideas and investment. I have already witnessed the impact that the support of such a strong partner can have on the business and I very much look forward to working with Capricorn’s team to take it to new heights.”

Harris said of their strategy, “We believe there is great potential in the mid-size corporate services segment, companies which need capital to grow but don’t want to be swallowed up, gutted or passed around. Capricorn’s form may be corporate, but our mindset is very much partnership, and our capital is extremely patient, something we feel differentiates us from traditional PE buyers. With so many markets across Asia Pacific experiencing rapid growth and attracting new companies, the market for high quality corporate services and in-depth local knowledge can only grow, and Capricorn has the expertise to help strong local businesses like A-Pass take advantage of this opportunity. We anticipate this to be the first of many such acquisitions for Capricorn Capital.”

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Notes to editors
Capricorn Capital is a family-owned international private investment business with offices in London, Johannesburg, Malta and Hong Kong. Its roots date back to 1994 as the Private Equity arm of the Hollard Insurance Group, a global insurance business and South Africa’s largest privately-owned insurance company. In 2003 Capricorn Capital Partners was formed as a separate business and its first office in Asia was opened in Hong Kong in 2015.

Global investments include Clientele, a leading direct insurance business; Nando’s, a successful international restaurant group; Auto & General, today known as Budget Group in the UK, South Africa and Australia; Spier Wine Farm and Hotel; and &Beyond, luxury game lodges in South Africa, as well as a retained interest in Hollard Insurance.

Capricorn Capital’s approach and investment philosophy is grounded in family values, looking to build inter-generational businesses and teams that create long-term value.

For enquiries please contact:

Charlotte Bilney

CO-CEO Asia Pacific, Citigate Dewe Rogerson

Charlotte.bilney@citigatedewerogerson.com

Tel. +852 9314 3463


Capricorn Capital收購香港A-Pass以推動企業服務業務發展


為進軍亞太打響頭炮

2019年9月23日,香港 – 從事全球直接私人投資的家族企業Capricorn Capital Group旗下香港子公司Capricorn Capital Partners HK Limited最近首度於亞洲進行收購,購入亞太會計及秘書服務有限公司(「A-Pass」)於香港的多數股權,為長期投資區內企業服務行業打響頭炮。

A-Pass由香港出生的英國人Andrew Burgin於2006年創立,此後發展成為備受推薦的公司註冊、秘書、會計、報稅、貿易以及薪酬服務供應商。Capricorn Capital Group已收購了該公司67%的股權,同時聘請了多名專業人士專責提升公司之策略部署,並期望於年底前把團隊的規模擴大一倍。公司亦就關鍵軟件和硬件進行升級,並重塑更切合新時代的品牌和願景。

Capricorn Capital Group駐港董事總經理Robin Harris表示:「A-Pass向來是深受眾多香港公司歡迎的業務夥伴,在Andrew強而有力的領導下,專責的團隊不但能提供大型跨國公司的專業服務標準,而且在提供個性化服務的同時兼具靈活性。」

Robin Harris補充道:「Capricorn不僅在歐洲的企業服務行業進行投資,在全球範圍也是相關服務的主要用戶。因此我們將能夠利用這些重要的全球專業知識協助A-Pass繼續發展以及更有效地營運。」

Andrew Burgin將留任行政總裁一職,他表示:「對於A-Pass來說,當前的轉捩點令人鼓舞。十多年來,我一直在推動公司的發展,現時乃合適的時機讓公司注入新意念和資金。我見證了優秀合作夥伴在業務支援上產生的重大效益,同時熱切期待與Capricorn團隊攜手為A-Pass再創佳績。」

談及發展策略時,Harris表示:「我們相信中型企業服務領域深具潛力,這類型企業既需要資金去發展,但又不想被吞併、掏空或瓜分。Capricorn的企業模式和思維,有別於傳統私募股權買賣,我們傾向於夥伴合作形式。我們的資本投放於長線發展。隨著亞太地區多個市場迅速發展並吸引愈來愈多的新公司進駐,高質素的企業服務以及深入的本地知識需求勢必增長,而Capricorn的專長則能助力如A-Pass般具有實力的本地企業把握先機。預料是次入股乃Capricorn Capital未來併購的開端。」

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編者註
Capricorn Capital乃一家專注於國際私人投資業務的家族企業,於倫敦、約翰內斯堡、 馬耳他及香港設有辦事處。其歷史可追溯至1994年,當時為業務遍佈全球、南非最大 的私營保險公司Hollard Insurance Group的私募股權部門。2003年,Capricorn Capital Partners成為一家獨立企業,並於2015年在香港設立亞洲首個辦事處。

公司的全球投資包括:直接保險行業的龍頭企業Clientele;著名的國際餐飲集團Nando’s;前身為Auto & General、業務遍佈英國、 南非及澳洲的汽車出租集團Budget Group;南非酒庄及酒店集團Spier Wine Farm and Hotel及經營豪華度假別墅的&Beyond;以及於Hollard Insurance的保留權益。

Capricorn Capital的經營方式及投資理念皆源於家族價值,旨在建立世代相傳的業務以及能夠創造長期價值的團隊。