Submitted on Thu 20 Feb 2014
TRC Group has sold the Singapore arm of its business to the Australian based group Andersen Partnership. TRC Group has operated in Singapore since 2009 but following a refocus of the business on the Australian domestic market the decision was made to sell the international operations.
TRC Group Managing Director Simon Moss said of the sale “Our Australian business is going strong after a difficult first half of 2013. We decided to redirect our energies into this market to allow us to ride the wave here. Our biggest concern was the welfare of the Singapore team. We have a fantastic group of consultants over there and wanted to ensure that they were looked after. Andersen Partnership have been very supportive of the existing team. Niall [Hamill] and Brian [Schroder] have been great and have kept on all of our Singapore consultants. It's an exciting fresh start for them and a great opportunity for Andersen Partnership to get a head start in Singapore."
Niall Hamill of Andersen Partnership said of the deal “We’ve been looking for the right time to move into Singapore, it's a huge potential market for us. TRC Singapore has a good reputation over there and an excellent team. So the whole thing fitted in perfectly with our plans. We’re aiming to grow it rapidly over the next 6 months with plans to hire an additional 10- 15 consultants.”
TRC Group will now focus on the public sector, IT, engineering, resources and construction markets across Australia. Andersen Partnership operate primarily within the accounting and finance sector.