A U.K. Private Equity Firm And An Indian Entrepreneur To Jointly Buy Vertex?
Global Services:
Raman Roy, India-based Business Process Outsourcing (BPO) entrepreneur, could team up with a U.K.-based private equity firm, 3i, and a few other funds to acquire Vertex, a BPO subsidiary of U.K.-based United Utilities, according to a report by Indian business newspaper, The Economic Times.
If successful, this deal will rank among the biggest leveraged buyouts in the BPO industry. Akshaya Bhargava, former CEO of Progeon, Infosys’ BPO arm, heads 3i’s BPO investment division.
TCS was also reportedly looking to acquire Vertex but it moved out of the race, as its price apparently seemed too high for the company. Vertex’s parent, United Utilities, has asked Merrill Lynch step in as advisor. Vertex, headquartered in Manchester, has about 9,000 employees across the U.K., U.S., Canada and India. The company is mainly into financial services, retail, telecom, travel and leisure, public sectors including local and central governments and utilities sector.
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