BPO not processing: why a deal with Aegis and Startek is keeping Capital Square awake all night
Synopsis
Startek has been losing clients and management teams. Last December, PE firm Capital Square Partners offered to take Startek private at a fraction of what it had initially paid for the stock. Last month, it further cut the price because it was struggling to raise the necessary financing. Where does it go from here?
Some matches are made in heaven — popcorn and movies; rainy days and pakodas; bad days and chocolate. In the world of finance, private-equity buyouts and BPOs have been a winning combination. For two decades, private equity companies have made a bundle on buying business-process outsourcers and then selling them. Back in 2002, ChrysCapital made a 6x return on SpectraMind when it sold the company to Wipro. Blackstone made a 200% return the first
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