The private equity consortium 65 Equity and Tower Capital plan to sell Boardroom, with a valuation of 1 billion USD.

According to informed sources, due to interest from potential investors, private equity firms 65 Equity Partners and Tower Capital Asia are considering selling the corporate service provider Boardroom Ltd. The owners of Boardroom have selected Goldman Sachs to assist in preparing the sale of this Singapore-based company. Some sources indicate that the deal could value Boardroom at around $1 billion. Sources say that Boardroom has attracted initial interest from global investment firms including Advent, EQT AB, and TPG Inc. The sources added that the considerations are still in the early stages, and no final decision has been made; parties may also decide to abandon the transaction. Australian media reported in May that the owners of Boardroom were then in talks with multiple banks to assist in preparing the sale of the business. Boardroom offers corporate services such as company registration, corporate secretarial services, accounting, tax, payroll management, and share registry. Its business spans Singapore, Australia, Malaysia, Hong Kong, and mainland China, and it has partners across the Asia-Pacific region. 65 Equity Partners and Tower Capital jointly acquired Boardroom in 2022 for approximately SGD 312 million (USD 243 million) and took it private, delisting it from the Singapore Exchange. Global private equity firms have been acquiring corporate service companies. In December last year, Warburg Pincus agreed to invest in Acclime to help drive the business development and expansion of this Asia-focused company.