Vistra

The story of Vistra is one of strategic consolidation in the corporate services industry. Its origins trace back to 1986 in Hong Kong with a company known as OIL, which specialized in international incorporations and corporate services. The company grew steadily, expanding its service offerings and geographic footprint over the years. A pivotal moment arrived in 2011 when OIL merged with Vistra, another player in the space. This event marked the beginning of a larger strategy. The combined entity continued to operate under a dual-brand strategy for a few years before fully rebranding as Vistra in 2017. The next major chapter unfolded under private equity ownership. BPEA EQT first invested in 2015, immediately merging Vistra with Orangefield to create a global powerhouse in the industry. This wasn't a passive investment; it kicked off a period of aggressive M&A, with 21 bolt-on acquisitions that significantly grew revenue and EBITDA. The culmination of this strategy came in 2023. BPEA EQT orchestrated a merger between Vistra and Tricor, another major player in the Asian corporate services market. This deal valued the combined entity at a massive $6.5 billion, creating a global leader with over 9,000 professionals across more than 50 jurisdictions. Simon Webster, who had joined Vistra as CEO in late 2022, took the helm of the newly merged giant.