ACA’s multimillion stake to accelerate Icon Consulting’s growth
SINGAPORE CITY, SINGAPORE — Icon Consulting Group, a Singapore-based digital and enterprise application staffing specialist, recently secured a substantial investment from private equity firm ACA Investments.
The exact value remains concealed, but it’s a multimillion-dollar deal from the fund, which manages about US$1 billion.
The investment catalyzes Icon’s expansion strategy, reinforcing its workforce and broadening its reach beyond Singapore, Malaysia, Australia, and India. Additionally, it targets the acquisition of regional businesses in the same sector.
In the pipeline, Icon is designing an enterprise tech training scheme to combat the regional talent deficit and develop AI-enabled solutions.
Harjit Khatkar, CEO of Icon Consulting Group, heralded the investment as a powerful endorsement of Icon’s growth trajectory and commitment to high performance.
“An investment by a respected investment firm of the size of ACA is strong backing of not only our business’ growth but also our dedication to high performance and profitability,” Khatkar stated.
ACA Investments Associate Partner Hajime Adachi praised Khatkar and the rest of Icon’s team for their capability to scale the business in a highly efficient manner.
Adachi added that they see a vast potential for Icon to expand in Southeast Asia and the lucrative Japanese market.
Founded in 2018, Icon has accrued over US$70 million in revenue, consistently demonstrating double-digit annual profitability growth.
