Vantage Capital, Africa’s largest mezzanine debt-fund manager, yesterday announced that it had made a R346 million investment into Procera Group, a leading South African business process outsourcing (BPO) services provider serving both South African and international clients.
Vantage’s investment comprises the acquisition of a significant minority equity stake from the Procera founders as well as the provision of a mezzanine facility to support future strategic acquisitions by Procera.
Founded in 1990 as a debt-recovery solutions provider, over the past three decades Procera has evolved into an integrated BPO services group offering support solutions to its clients via several distinct brands along the customer life-cycle.
Procera currently services more than 50 local and international blue-chip clients across key industries such as retail, financial services, energy and tele-communications in geographies including South Africa, Namibia, UK, US and Australia.
Roshal Ramdenee, an associate partner at Vantage Capital, said: “Vantage sees a tremendous opportunity for job creation as well as positive economic impact as Procera continues its rapid international expansion, and drives market-leading technological solutions in the BPO space. Vantage is proud to partner with a very capable management team and committed long-term investors.”
Warren van der Merwe, a managing partner at Vantage Capital, added: “It is rare in the current economic environment to find fast-growing South African businesses and ones that are truly competitive in developed markets. Procera’s founders, shareholders and management team have built an admirable business to date, and we are excited to invest into Procera’s next stage of growth and development.”
Crispin Sonn, the chairman at Procera, said: “We are very pleased to have the long-term support of Vantage and its team of seasoned investors as we look to grow the Procera’s business services footprint into international markets.”
BUSINESS REPORT