ACA Investments, a fund investment group based in Singapore and Japan that is currently managing approximately USD 1 billion, has made a significant strategic investment in Icon Consulting Group, a digital and enterprise application-focused staffing firm based in Singapore. Icon Consulting Group was founded in 2018 and has generated revenues of over USD 70 million and annual double digit profitability growth. Icon Consulting Group has now successfully placed over 1,000 enterprise technology professionals into digital transformation projects at its blue-chip client base which includes multinational companies in banking, consulting, mining and pharmaceutical industries. Icon Consulting Group specialises in the placement of senior level digital and enterprise technology-focused contracting staff.
The investment from ACA will fuel Icon Consulting Group’s expansion plans, enabling the company to seek opportunities to further build on its current team. Icon Consulting Group also has plans to expand its geographic footprint beyond its current setup, which includes Malaysia, Australia and India in addition to its head office in Singapore. Icon Consulting Group will actively seek out acquisition targets and look to consolidate similar businesses across the region.
Bird & Bird ATMD LLP acted for ACA Investments in this transaction and team comprised Partner Marcus Chow, Counsel Jolie Giouw and Associate Luke Oon.
