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Contax to buy Allus

6 April 2011

(Zephus) April 6, 2011 – Brazilian customer services firm Contax Participações has agreed to buy Allus, an Argentinean contact centre operator in a deal worth between BRL 307.00 million (USD 190.40 million) and BRL 332.00 million.

The Rio de Janeiro-based buyer announced it has exchanged contracts for the purchase of a number of companies in Spain and Latin America that make up the target group. It will act via two subsidiaries.

The consideration is based on the enterprise value of Allus, which is currently owned by the New York-based hedge fund Eton Park. BRL 254.00 million is to be settled up-front, with a further BRL 25.00 million paid out over two years depending on the target’s earnings before interest, tax, depreciation and amortisation.

Completion is expected later this month.

Contax stated the purchase is “directly in line with its internationalisation strategy”, which focuses on Latin America, and “an important step in becoming one of the most complete global providers of business process outsourcing” services.

The company’s expansion in the continent involves accessing new contact centre markets and capitalising on opportunities with existing clients which are growing their businesses. Key locations have been identified as Colombia, Peru, Argentina and Mexico.

It also plans an off-shore base for Spanish-speaking North American customers.

Allus fits well with Contax’s aims. The target has the largest market share in Colombia (where it controls 20.0 per cent), Argentina (15.0 per cent) and Peru (37.0 per cent). It currently operates sites in Medellín, Bogotá, Córdoba, Mendoza and Lima plus sales offices in the US and Spain, and has some 14,000 staff.

Services include billing, technical support, human resources activities and accounting management, among others. The group’s clients range from financial institutions to retail and media businesses.

According to Contax, Allus had net income of USD 174.00 million in fiscal 2010, up from the USD 142.00 million posted in FY 2009. Colombia accounted for 48.9 per cent of FY 2010 income, Argentina 41.0 per cent.

Contax to buy Allus was last modified: August 19th, 2011 by Editor
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