KKR to acquire majority stake in Probe CX
Private equity firm KKR is set to acquire a majority stake in Australian outsourcing company Probe CX to further boost the latter’s development and enhance its digital capabilities.
The global investment company is in exclusive discussions with Probe’s owners Quadrant Private Equity and Five V Capital to finalize the deal by the end of the year.
KKR is making this investment from its Asian Fund IV as part of the firm’s long history of investing in businesses located in the country.
Melbourne-based Probe offers customer support, credit management, contact center, and data analytics services to its clients with the help of more than 15,000 employees in the Asia Pacific and North America.
Probe CEO Andrew Hume said that KKR’s “experience in transforming CX and BPO companies globally will be invaluable in our next phase of growth.”
Meanwhile, KKR Managing Director Gareth Woodbridge stated that they are looking forward to using their expertise in the industry “to help accelerate Probe CX’s growth… for the benefit of its customers.”
Established by co-chairman Rodney Kagan in 1979, Probe is the leading customer experience provider in Australia and New Zealand. It has over 600 clients and more than 15,000 employees in its 33 offices across the globe.
The company offers customer support, credit management, contact center, and data analytics services to its clients within the Asia Pacific and North America.
KKR’s investment in Probe Group is forecasted to transform the value of the business to A$1.2 billion (approximately US$870 million).
