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IK Investment Buys Carlyle-backed Offshore Incorporations

European private equity firm IK Investment Partners has bought Offshore Incorporations from Carlyle Group, Reuters reported. Terms of the deal were not released, though previous reports estimated the deal at as much as $300 million.

(Reuters) – European private equity firm IK Investment Partners agreed on Thursday to buy Offshore Incorporations from Carlyle Group , the firm said in a statement.

The statement did not give the price of the acquisition, but Reuters LPC previously reported that bids for the asset were around $250 million to $300 million.

Affinity Equity Partners and Bain Capital LLC also bid for the asset, which specialises in company incorporations and related services. (Reporting by Stephen Aldred; Editing by Muralikumar Anantharaman)