Global asset management firm Barings will provide debt facilities exceeding $150 million to Hong Kong-based corporate advisory services firm Acclime Limited, according to an announcement on Tuesday.
The upsized senior secured credit facilities will help support the growth of Acclime, which provides advisory and corporate services—company formation, accounting, tax, governance, payroll outsourcing etc.—across 14 Asia Pacific markets.
Last month Acclime expanded into the United Arab Emirates (UAE) through the acquisition of MeiPro, a corporate services provider based in Dubai.
“With support [from Barings], we have merged numerous long-established businesses into a largely partner- and employee-owned platform with approximately 1,400 personnel delivering seamless solutions to over 14,500 active clients in the Asia Pacific region”, said Martin Crawford, Co-Founder and Executive Chairman, Acclime.
Through its Hong Kong and Sydney offices, Barings has been providing private finance solutions to borrowers in Asia Pacific for 14 years. Barings is a $406 billion global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions.
It was announced earlier this month that Barings would provide senior secured credit facilities of A$270 million in support of UK-based Intermediate Capital Group’s (ICG’s) acquisition of a majority interest in Australia’s Cura Day Hospitals Group (Cura).
This April, Barings provided secured credit facilities for the stabilisation of David Wood Baking (DWB), a UK-based manufacturer and distributor of artisan breads, ready meals, and pastry products, that lost one of its eight manufacturing facilities in the UK following a fire in September 2023. With Barings’ funding, DWB will be able to scale production and refinance existing lenders.
