Simon Webster, CEO, Vistra
Business services provider Vistra has revealed what the company called “a sharper strategic focus” and a “new organisational purpose”.
Vistra said, while the global business community plays a growing role in changing the world for the better, it also faces increasing complexity in doing so. The company is therefore setting out its renewed purpose to partner with clients as they pursue their growth ambitions. The vision is to make operating globally feel borderless and to help clients achieve progress without friction, Vistra said.
“Amid geopolitical uncertainty, regulatory change and economic volatility, businesses are facing the challenge of navigating ever-growing complexity across the globe. The result is friction that slows progress,” says Simon Webster, CEO of Vistra in a press release.
“We firmly believe in the power of business to be a force for positive change, and our merger with Tricor has given us license to fully reimagine our business where our purpose is progress. By delivering a compelling proposition through our reimagined Vistra brand, we help companies and private capital managers by alleviating the friction that can impede progress and prosperity.”
The announcement follows the completion in July 2023 of the merger between Vistra and Tricor Group (Tricor), a leading business expansion specialist in Asia, which created a business with more than 9,000 experts in 50+ markets. The merger was supported by BPEA Private Equity Fund VIII (EQT Private Capital Asia).
Joining together and rebranding as Vistra, the combined strengths of these two organisations reinforce the company’s position as a global industry leader, Vistra said.
“In the past, our industry has been quite traditional. By establishing a clearly defined purpose for our business, we’ve outlined our vision of the change we want to deliver for both clients and our people,” said Melanie Fitzpatrick, Chief Purpose and People Officer at Vistra. “To do this, we took a deliberate approach to reimagine our business from the inside out, recognising that our culture and values underpin the experience that we offer to the companies and private capital funds we work with. This provides an important opportunity to differentiate our customer experience and proposition, and ultimately further establish ourselves as a trusted partner and employer of choice.”
Vistra said its newly expanded capabilities align with the current and emerging needs of companies and funds as they invest in growth, both domestically and internationally, along the corporate and private capital lifecycle.
The company said it continues with deployment of a unified global operating platform that is bringing the increased scope and scale of its capabilities to clients. In addition, Vistra is also committed to increasing its investment in organisational health, people, and culture, further aligning its stakeholders around its unified purpose, brand, and values.
A global campaign will bring the purpose, vision, brand, and culture of this reimagined brand to life.
Nicholas Macksey, partner within the EQT Private Capital Asia Advisory team, said: “This represents the start of a new growth cycle for Vistra, which is well positioned to build on its expanded capabilities and give clients greater confidence in their decision-making as they explore new opportunities across borders. In doing so, we anticipate that the company will continue to thrive as a close ally to companies and private capital funds looking to grow or optimise their business so they can focus on their core strengths.”
