PARIS, FRANCE — Teleperformance SE, a French outsourcing firm, and private equity company Blackstone Group are poised to make separate bids for Everise Holdings, an IT services company currently owned by Brookfield Asset Management, according to insiders familiar with the matter.
Mint reported that Brookfield has engaged Morgan Stanley to oversee the sale and is expecting to raise approximately $1.4 billion. With bids due later this week, there’s speculation that other private equity firms may also show interest in the purchase.
Initially, Everise was formed in 2016 when private equity firm Everstone Capital, along with Sunrise BPO, acquired U.S.-based business process outsourcing (BPO) company C3. The business was sold to Brookfield in 2020 for an estimated $450 million.
The potential acquisition follows a robust operational performance by Everise. The company’s Ebitda or earnings before interest, taxes, depreciation, and amortization has risen 40% since January.
Moody’s Investors Service confirmed this positive outlook, stating Everise demonstrated a “strong operating performance and faster-than-expected improvement in financial metrics”. Everise primarily serves clients in healthcare, transport, logistics, insurance, financial services, and tech sectors.
Teleperformance has previously shown a strong appetite for acquisitions. In 2018, it acquired Intelenet Global Services from Blackstone for $1 billion. In April, the French business procured rival Majorel in a deal worth $3.3 billion.