KKR acquires Probe CX

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Melbourne, Australia – (COMMERCIAL THREAD) – Quadrant Private Equity, Five V Capital, Rodney Kagan and other The shareholders of Probe CX (“Probe” or the “Company”) announced today that they have entered into an agreement whereby KKR will acquire a controlling interest in Probe alongside existing management. The investment will be used to fuel Probe’s robust growth and strengthen its digital capabilities to enhance its service offering to customers.

Probe is a leading provider of Customer Experience (“CX”) and Business Process Outsourcing (“BPO”) solutions based in Australia. Probe was founded by Co-Chairman Rodney Kagan in 1979 and is today the largest provider of CX and BPO outsourcing services in Australia and New Zealand, with over 600 clients and over 15,000 employees across its 33 offices around the world.

Andrew Hume, CEO of Probe, said: “Customer experience is really at the heart of our business. Through our intelligent and personalized solutions, Probe enables businesses to continuously deliver positive and rewarding experiences to their customers. With this mission in mind, we are truly delighted to welcome KKR as a shareholder and strategic value-added partner, as their experience in transforming CX and BPO businesses globally will be invaluable in our next phase of growth. . ”

Gareth Woodbridge, Managing Director of KKR, said: “We are delighted to be working closely with Andrew and his team to expand Probe CX’s leadership position in the market. We look forward to leveraging KKR’s industrial and operational expertise to help accelerate Probe CX’s growth plans and evolve its capabilities and digital service footprint to benefit its customers.

Rodney Kagan, Founder of Probe, said: “It is with great pride and joy that after 43 years, I can see Probe continue as a leader in the customer experience and outsourcing industry. Probe’s success has always been surrounding itself with the brightest, most engaged and most professional team. I am so passionate about the future of Probe and am very happy to see KKR helping the company take it to the next level in its global journey.

Jonathon Pearce, Managing Partner of Quadrant Private Equity, said: “Probe is a fantastic company led by an exceptional team who have been at the forefront of digital innovation. Over the past 18 months, Probe has continued to ensure that customers and consumers receive the highest quality support despite external challenges. Now, with KKR’s global reach and capabilities, we believe the company will continue to grow and improve its service offerings for customers in the years to come.

KKR is making this investment from its Asian Fund IV. The company’s investment in Probe CX builds on its long history of investing in Australia. KKR also has experience in successfully growing businesses in the CX industry globally, including its previous investment in Webhelp, one of the leading providers of CX and BPO solutions across Europe.

The transaction is expected to close by the end of calendar year 2021, subject to regulatory approvals and other customary closing conditions. Additional details of the transaction were not disclosed.

Probe CX has been advised by Morgan Stanley Australia Limited, PwC and Gilbert + Tobin. KKR has been advised by Credit Suisse, King & Wood Mallesons and EY.

About the CX Probe

Probe CX is a globally recognized and award-winning customer experience organization that designs and deploys solutions to strengthen and optimize our customers’ operations. Founded over 40 years ago and with more than 15,000 employees in five countries, the company delivers exceptional customer experiences through its in-depth knowledge and capabilities in contact center and customer management, digital consulting , intelligent automation and analytics. Probe CX also provides shared services such as financial and accounting services and support / support services and specialist knowledge services such as SEO / SEM marketing, software and website development, healthcare health and loan processing.

About KKR

KKR is a leading global investment firm providing alternative asset management, capital markets and insurance solutions. KKR aims to generate attractive returns on investment by following a patient and disciplined approach to investing, employing world-class people and supporting the growth of its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer pension, life and reinsurance products under the leadership of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information on KKR & Co. Inc. (NYSE: KKR), please visit the KKR website at www.kkr.com and on Twitter @KKR_Co.

About Quadrant Private Equity

Quadrant Private Equity was established in 1996 (first as Quadrant Capital) and is a Sydney-based mid-sized private equity firm that invests in companies in Australia and New Zealand. Quadrant Private Equity has raised $ 7 billion and 12 funds since its inception. Its latest funds, QPE No. 7 and Quadrant Growth Fund 2, have $ 1,240 million and $ 530 million in equity commitments for private equity investment, respectively. Quadrant has extensive investment experience, having led 83 investments in the last 11 funds (with 60 exits) across a range of industries including Retail, Healthcare, Media, Consumer Foods, Services financial, electronic commerce and other sectors.

About Five V Capital

Five V Capital, a Certified B Company, is a Sydney-based private equity fund manager with over $ 900 million in funds under management. Five V’s unique investment approach is underpinned by an alignment philosophy and is reflected in the fact that the Five V Capital team is the largest investor of its funds. This alignment between team, investors, partners and management teams is a key part of Five V’s success. Five V Capital’s current portfolio includes several leading companies including Penten, APP Corporation, Zenith Investment Partners , Totara Learning, Monson Agencies, Probe CX, Education Perfect and Plenti. For more information on Five V Capital, please visit the Five V website at https://www.fivevcapital.com and on LinkedIn at https://www.linkedin.com/company/ fivevcapital.


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