HRM Asia is a specialist human resources events and media company headquartered in Singapore. It became a wholly owned subsidiary of Arowana in 2013. During Arowana’s ownership, HRM Asia became the leader in its field in the South East Asia region and more than doubled its revenue and profits.
When HRM Asia was first acquired, it was a niche old school publishing centric business, focused on delivering content to human-resources professionals in Singapore and broader Southeast Asia. Arowana led a strategic review of the HRM Asia business, that resulted in a a strategic pivot to focus on holding events and the development of a digital media platform in order to monetise the company’s expansive database.
With HRM Asia’s longstanding Managing Director resigning suddenly in late 2013, Dirk Rossey, an Arowana executive, was parachuted in to act as interim Managing Director with a remit to steady the ship, drive execution of the strategy and groom a new leader for the company. As a direct result, HRM Asia saw its first sell-out HR Summit in Singapore in 2014 and achieved record revenues and profits.
In addition, Dirk also coached HRM Asia’s Financial Controller, resulting in her promotion to Executive General Manager of the HRM Asia business within 6 months. In the ensuing year, HRM Asia enhanced its brand awareness and reputation into new markets in the region including Malaysia, Indonesia, India and the Philippines, setting the stage for future growth.
In 2014, HRM Asia was acquired by Diversified Communications. Through operational engineering and without the use of financial leverage, HRM Asia delivered a 2.5x multiple on invested capital for Arowana and a 100% IRR.