News

Tricor Accelerates China Outbound Business with Acquisition of Richful Deyong

08 May 2019

Acquisition firmly establishes Tricor as Asia’s Leading Business Expansion Specialist

Tricor Group(Tricor), Asia’s leading provider of business, corporate, investor and debt administration services, has acquired Richful Deyong (RFDY), a Hong Kong-based provider of integrated corporate and business services, focused on supporting mainland Chinese companies in their international corporate activities.

RFDY’s network of 140 relationship managers across 12 major Chinese cities greatly enhances Tricor’s presence on the mainland, while also providing RFDY’s client base with access to Tricor’s best-in-class services across APAC. The combined Tricor and RFDY platform meets the growing needs of Chinese enterprises going abroad, with the most comprehensive suite of services available in the market.

Lennard Yong, Group CEO of Tricor, said: “We are delighted with the greatly enhanced presence that we have gained in China through RFDY. Shisong Mai, the founder of RFDY supported in internationalisation of over 18,000 Chinese corporations. Combining RFDY’s capabilities with the resources of Tricor strengthens Tricor’s Asian footprint and supports our aim to become the premier partner for China’s globalisation activities, taking full advantage of economic expansion and initiatives like the belt and Road and Greater Bay area”

Shisong Mai, the founder of RFDY, said: “Tricor, as one of the fastest-growing players in the industry, shares our mission to help mainland Chinese companies expand their global presence, by providing the most robust, integrated business solutions in the market. Joining Tricor represents a natural evolution of RFDY’s development beyond China and Hong Kong, and I look forward to working closely with the Tricor leadership team, as together we help drive the further globalisation of Chinese corporates.”

Lennard Yong continued: “This transaction marks Tricor’s 6th acquisition since the Permira Funds’ investment in the firm, and we continue to explore partnerships with businesses in the region that share our vision of helping firms across APAC pursue new opportunities.”

RFDY provides corporate and business services to Mainland Chinese corporates to support their outbound investment activities, including cross-border M&A transactions, overseas capital market transaction and other direct outbound investments, as well as entity incorporation and renewal, and accounting and company secretarial services. It also provides corporate and business services to Chinese entrepreneurs seeking administrative support for their family offices.