Equiteq acted as the exclusive financial advisor to Rolling Arrays, Southeast Asia’s largest specialist SAP SuccessFactors consulting and implementation firm, on sale of a controlling stake to Skyform, an Asia-Pacific (APAC) digital transformation platform founded by Yuan En Lim and backed by SeaTown Private Capital Master Fund.
Rolling Arrays is Southeast Asia’s largest specialist SAP SuccessFactors consulting and implementation firm, with over 15 years of proven track record in HRM technology project delivery. An SAP Gold Partner, Rolling Arrays has earned accolades such as Best SuccessFactors Partner Malaysia 2024 and Outstanding Performance in SAP SuccessFactors South East Asia for 2023. It was also recognized as one of The Straits Times’ 100 Fastest Growing Companies in Singapore for 2024.
Skyform was founded in 2024 with the vision to be APAC’s leading digital transformation platform. Headquartered in Singapore, Skyform specializes in advising, implementing, and developing cutting-edge technology solutions for enterprises across the region. Skyform is backed by SeaTown Private Capital Master Fund, a private equity fund managed by SeaTown Holdings International Pte. Ltd. (“SeaTown”). SeaTown is a leading Asia-focused alternative investment firm owned by Seviora Holdings, Temasek’s asset management group.
This transaction establishes Skyform as the leading provider of Human Resource Management (“HRM”) services in Southeast Asia.
Commenting on Equiteq’s role in the transaction, Manu Khetan, CEO and Founder, Rolling Arrays said: "Rolling Arrays was fortunate to have an expert M&A advisor like Equiteq by our side. Their knowledge, understanding of our business, flexibility, responsiveness and above all willingness to go the extra mile played a key role in the entire process. Khushboo and I are grateful to Karan, Arun, Devang, Wei Jun and entire Equiteq team for supporting and guiding us through this journey."
Arun Nayak, Managing Director and Karan Bhartiya, Director added: "Rolling Arrays has carved out a unique position as Southeast Asia’s largest specialist SAP SuccessFactors Partner. The transaction with Skyform will have a transformational impact on the business under the combined vision of the Rolling Arrays and Skyform teams. Thank you Manu and Khushboo for giving Equiteq the opportunity to be a part of this deal."
Further details about the transaction can be accessed here.