The Executive Centre, a leading flexible office brand in Asia Pacific, has been acquired by a consortium led by U.S. investment firm Kohlberg Kravis Roberts and Singapore’s Tiga Investments.
The deal comes as demand is expected to rise for coworking and flexible office space as the Covid-19 pandemic is brought under control.
The Executive Centre operates more than 150 flexible office and conference spaces across 32 cities, including in China, Japan, South Korea, Southeast Asia, Australia and India.
The Executive Centre CEO Paul Salnikow, who founded the company in 1994, said in a news release: “It’s a powerful partnership, well matched to drive the continued performance and growth of TEC.”
S.J. Lim, a KKR managing director, said: “Flexibility will be key in companies’ future workplace strategies. We believe The Executive Centre is well placed to capture new growth opportunities and build on its longstanding leadership position in Asia’s premium workspace segment.”