NewQuest exits BPO business to US GP
NewQuest Capital Partners is exiting Integreon, a business process outsourcing (BPO) provider with a significant Asia footprint to US private equity firm EagleTree Capital.
Financial details were not disclosed. NewQuest, a direct secondaries specialist, acquired the company in 2016 from Philippines conglomerate Ayala and Actis Capital via its third fund, which wrote checks in a range of $25-75 million.
Integreon will be a new standalone platform investment in the EagleTree portfolio, and its operations, management team and personnel will remain unchanged. The New York-based investor, which pursues buyouts in a range of $50-200 million, said it would support further growth through both M&A and organic expansion.
US-headquartered Integreon maintains a substantial presence in its native Philippines as well as two offices in India and a footprint in the UK, with more than 3,500 employees globally. BPO services span multi-lingual and around-the-clock, onshore, offshore, and onsite support in areas such as litigation, contract and compliance, legal administration, and business enablement. Clients include law firms, corporations, and financial institutions.
Integreon claims to have experienced “tremendous” growth in recent years, with the global shift toward remote working during the pandemic helping drive financial and operating performance. Under NewQuest, the company has opened a new delivery center in the US city of Charlotte, doubled the size of the Mumbai office, and marked a 10-year partnership with Microsoft by launching a cyber incident response and subpoena processing service.
“This has been an incredible journey for us,” Amit Gupta, a partner and head of India and Southeast Asia at NewQuest, said in a statement. “We are privileged to have worked closely with [Integreon CEO Bob Rowe] and his team over the years in successfully repositioning and growing the business. Integreon has established itself as a leading global managed services provider and is well poised to enter its next phase of growth.”
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