Business Expected
to Operate as TSI Once Transaction is Completed
Plano, Tex., and Los Angeles, Calif. (July 14,
2014) — Expert Global Solutions (EGS), a global leader in the
Business Process Outsourcing (BPO) industry, announced today that it has
entered into an agreement to sell certain segments of its
Accounts Receivable Management (ARM) business to Platinum Equity, a Los
Angeles-based private equity firm with a highly-specialized focus on business
operations. Financial terms of the pending transaction were not disclosed.
The proposed sale of Transworld Systems, Inc.
comprises several business segments within EGS’ ARM business: Transworld
Systems, Education, Attorney Network, Healthcare Bad Debt, Government and U.S.-based
Third Party Collections. Once the transaction is completed the business is
expected to operate as Transworld Systems, Inc. (TSI) going forward.
Bob
Segert, EGS president and chief executive officer, cites the proposed sale as a
win for all involved.
“As
a result of the sale of these businesses, EGS will be able to sharpen its focus
on our key business segments, services and strengths, specifically CRM and
First Party Collections,” Mr. Segert said. “Platinum Equity has been a great partner throughout this process, and
we are confident these businesses will
continue to thrive under their ownership.”
Platinum Equity partner Jacob Kotzubei, who leads the Platinum
Equity team pursuing the acquisition, said the opportunity is attractive for multiple
reasons.
“The business has great leadership, powerful proprietary systems
and a strong culture of compliance,” said Mr. Kotzubei. “We believe there is a
great opportunity to grow the business and maintain the highest standards of
excellence by continuing to invest in infrastructure and technology.”
Mr.
Kotzubei said Platinum Equity is highly experienced with acquiring segments of
existing companies, often known as corporate “carve outs,” and the firm’s
operations team has developed a comprehensive plan to ensure a seamless
transition.
Mr.
Segert noted
that business continues as usual, “All parties are working to complete the
transaction with few, if any, impacts to clients, customers and employees.”
The transaction is expected to be completed within
the next several months, subject to satisfaction of customary closing
conditions. Credit Suisse Securities (USA) LLC acted as financial
adviser to EGS.
About
Expert Global Solutions
Expert Global Solutions, Inc., is the holding company for
APAC Customer Services, Inc., and NCO Financial Systems, Inc. EGS, through its
APAC and NCO company brands, is a leader in addressing the needs of its customers,
as a fully scaled and global partner serving all aspects of the Customer
Relationship Management and Account Receivable Management customer lifecycle.
EGS offers clients the unique complement of scale and a customized service
delivery platform. EGS is an equal opportunity employer. For more
information, visit EGS’s website: www.egscorp.com.
About Platinum Equity
Founded by Tom Gores in 1995, Platinum Equity is a global
investment firm with more than $7 billion in assets under management and a
portfolio of operating companies that generated approximately $15 billion in
revenue in 2013. Platinum Equity specializes in mergers, acquisitions and
operations – a trademarked strategy the firm calls M&A&O® –
acquiring and operating companies in a broad range of business markets,
including manufacturing, information technology, telecommunications, transportation
and logistics, media, equipment rental, metals and other industries. Over the
past 19 years Platinum Equity has completed more than 150 acquisitions.
For more information, visit Platinum Equity’s website: www.platinumequity.com.
