Hawksford has acquired People & Projects Ltd (P&P), an acquisition which will significantly strengthen its current presence in Hong Kong and Singapore, and provide it with an extensive footprint across major cities in China.
The transaction demonstrates Hawksford’s commitment to the Asian market and takes the corporate, private client and fund administration company’s global headcount to over 400, with 200 now based in Asia.
P&P is a dynamic, full service corporate services business with a strong track record in supporting international corporates to expand their operations, including manufacturing and sales, into and across Asia. P&P provides flexible accounting, tax and corporate service solutions that help clients navigate the complexities of setting up and doing business in the region, particularly in China where P&P has five offices. P&P has enjoyed significant organic growth since its establishment in 2007 and has a multi-lingual talented team located across 10 offices who service international clients in English, Italian, Spanish, German, Mandarin and Cantonese.
This is the sixth acquisition that Hawksford has made since it was backed by private equity house Dunedin.
Hawksford’s corporate clients will now have access to a greater depth of service across the major economies of Asia, while P&P clients will be able to utilise Hawksford’s wider services in other locations.
P&P’s Partners Stefano Passarello, Dario Acconci and Giacomo Stoppa will become shareholders in Hawksford and continue in senior management roles ensuring continuity for P&P’s longstanding client base.
Michel van Leeuwen, Group Chief Executive of Hawksford, says: “Hawksford’s acquisition of P&P fits our strategic aim of having a truly pan Asian services platform. Fifty per cent of Hawksford’s employees are now based in Asia, demonstrating the importance of the region to our business. We are particularly pleased to have secured our own wholly owned operating capability in China and we believe this will be a major growth driver in coming years. Increasingly, corporate clients want to have access to our services across all of Asia as they look to expand their own businesses throughout the region.
“P&P is run by a team of entrepreneurs and professionals who share Hawksford’s values and strategic goals, and are passionately client-orientated. We look forward to integrating P&P’s staff and services into the Hawksford network. Clients of both Hawksford and P&P will see many benefits from this acquisition.”
P&P Partners Stefano Passarello, Dario Acconci and Giacomo Stoppa, add: “This acquisition presents an exciting opportunity for P&P to gain increased access to the UK market and consolidate our European reach through the established and respected Hawksford brand, while P&P’s reach across key Asian countries was particularly attractive to Hawksford. Under the Hawksford brand, we welcome the chance to provide scalability and new services to our established client base.”