Foundever cuts $900Mn debt in recapitalization
FLORIDA, UNITED STATES — Foundever has cut nearly $900 million from its debt load through a lender-consented recapitalization paired with a $225 million equity injection from existing majority shareholders and a new three-year accounts receivable financing facility, the company announced.
The transaction received support from 95.4% of term loan lenders and 100% of revolving credit facility lenders, extending the revolving credit facility to December 2030 and the term loan to March 2031.
Lenders accept near-$900M exchange, shareholders inject equity
Foundever, a global business process outsourcing (BPO) and customer experience services provider, employs 130,000 people across 45 countries and manages 3.3 billion customer interactions annually for 800+ brands in 60+ languages.
The recapitalization reduces gross debt by nearly $900 million through an exchange of the existing term loan facility, while a $225 million equity contribution from majority shareholders strengthens Foundever’s balance sheet ahead of planned technology investment.
A new $225 million global accounts receivable facility replaces the company’s prior factoring arrangement on a three-year term.
Benoit Leclercq, appointed Interim CEO following the July 31 departures of founding leaders Laurent Uberti and Olivier Camino, said the agreement provides the financial platform for the company’s next investment phase.
“This agreement gives Foundever the financial foundation to invest with confidence in our strategy and long-term growth ambitions,” said Leclercq.
Leadership transition coincides with balance sheet reset
Leclercq, who brings more than 30 years of experience as an industrial entrepreneur, investor, and board-level leader, leads a permanent CEO search underway through an executive search firm.
Foundever intends to deploy the strengthened balance sheet toward an artificial intelligence (AI) roadmap, with agentic AI operations and data-powered transformation services cited as core elements of its technology strategy.
Legal and financial advisors to Foundever included Weil Gotshal & Manges and PJT Partners, while term loan lenders retained Gibson Dunn & Crutcher and Lazard.
A 95.4% approval rate from term loan lenders and unanimous consent from revolving credit facility lenders gave the recapitalization a clean close with no material holdouts.
Leclercq added, “With a strengthened balance sheet and the backing of long-term partners, we are positioned to further accelerate our technology roadmap.”
For buyers evaluating top BPO companies in the customer experience sector, the Foundever recapitalization signals a transition from financial constraint to a position to reinvest in AI-enabled service delivery.
The near-$900 million debt reduction and extended maturities through 2030 and 2031 give Foundever room to compete for large enterprise contracts without near-term refinancing pressure.
A simultaneous leadership transition positions the company for its next phase under Leclercq’s interim leadership while a permanent CEO appointment is finalized.
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