Asia Pacific’s premier corporate services provider, Acclime, has announced its strategic expansion into India with the acquisition of leading corporate services consultancy, Concept International Business Consulting (CIBC). This deal and identification of the right partner has been facilitated with India’s Wodehouse Capital as their strategic advisor.
Acclime is the premier corporate services provider in Asia, operating in ten key Asian jurisdictions including China, Hong Kong, Malaysia, Cambodia, Vietnam, Philippines, Indonesia, Australia, Thailand and Singapore. The company’s vision is to reinvent the corporate services sector with innovative solutions that help corporate and private clients to advance their businesses and interests in difficult-to-navigate markets in emerging Asia, the statement said.
Established in 2009, Concept International Business Consulting (CIBC) offers regulatory compliance, market strategy, financial advisory, recruitment and cultural adaptation, with operations in Gurugram & Mumbai.
Martin Crawford, Co-Founder and CEO of Acclime, says, “CIBC has a 12-year history specializing in regulatory compliance, market strategy, financial advisory, recruitment, and cultural adaptation, being trusted advisors to more than 750 European and American companies. They are adept at helping to navigate complex local markets to establish successful operations in India.”
He also added, “When Acclime had made the strategic decision to enter India, we approached the Wodehouse team to assist. They did a thorough screening of the market to identify firms who would fit well with our strategy, resulting in a successful transaction with the excellent team at CIBC. We had briefed Wodehouse to find a “foundation investment” on top of which we could build a highly scalable business. CIBC are perfect in this regard and we are now working on subsequent deals in India to flesh out our geographic footprint and service line coverage. India is a key part of our growth plans.”
Sujay Sen Gupta, Chief Executive, CIBC, says, “We chose to merge with Acclime because of their shared values, complimentary services, commitment to people and the strength of the pan – Asian network they have built. Partners Manmohan and Sraboni have been a solid support in navigating this transaction, guiding negotiations and moderating expectation, specifically given as the transaction happened during Covid times when CIBC and Acclime never physically met each other.”
As Manmohan Tiwana, Founder and CEO, of Wodehoouse Capital Advisors, says, “Acclime’s clarity on their choice of anchor investment helped us scope the entire market and narrow down to a handful of relevant opportunities. However, their synergies with CIBC made them the automatic #1 choice as partner. Martin and Sujay share a common vision and I wish them well in their new journey ahead.”
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