Global alternative asset manager The Carlyle Group (NASDAQ: CG) announced it has agreed to acquire a majority interest in Digitex, a Spanish provider of Business Process Outsourcing services (BPO), with an established presence in Spain and across Latin America.
Capital for this investment will come from Carlyle Europe Partners IV (CEP IV), a European-focused upper-mid market buyout fund. The transaction is expected to close in Q2 2016, subject to customary requirements and regulatory approvals.
Founded more than 25 years ago, , and controlled by Altra Investments since 2009, Digitex has significant experience in integrated management solutions and business processes, customer care, back office support and IT process consulting. The company employs more than 16,000 people across offices in Spain, Colombia, Mexico, Peru, Chile, Guatemala and El Salvador. Customers include major companies operating in telecommunications, financial services, insurance, industrials and energy.
Digitex has experienced strong growth over the last five years, posting a 9.1% and 13.8% increase in revenues and EBITDA, respectively. 2015 revenues were around €177m sales, with EBITDA of around €20m.
The investment in Digitex follows Carlyle’s recent announcement in December 2015 of its intention to acquire Comdata, an Italian BPO company.
Marco De Benedetti, Managing Director and Co-Head of Carlyle Europe Partners, commented: “Carlyle’s investment in Digitex will help support the company’s expansion ambitions. It is a strong business in the BPO industry, with well-run operations in Europe and Latin America. Looking ahead, we see strong potential for expansion in high growth markets, including Brazil and Argentina, and across the United States”.
Dario Duran, Founding Partner at Altra Investments said: “We are very pleased to have reached an agreement with a strong global financial sponsor that will effectively support Digitex in its next phase of development, with continuity in the leadership team and overall strategy of the business”.
Angel Parra, Digitex CEO, added: “We are excited about the future and the many opportunities this transaction creates for Digitex and its 16,000 employees. Partnering with Carlyle will allow us to further consolidate our presence in the markets we currently participate in, and expand our geographical footprint and client base, both in Europe and the Americas. This transaction makes us stronger and positions us well to continue innovating and delivering high-value-added BPO & Customer Care solutions to our clients.”
The Carlyle Group was advised by Latham & Watkins, and BTG Pactual and Garrigues advised Digitex.
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