KKR to acquire majority stake in Australian CX and BPO firm Probe CX

KKR, through its Asian Fund IV, is set to acquire a majority stake in Australian customer experience (CX) and business process outsourcing (BPO) solutions provider Probe CX for an undisclosed price.

In this connection, the global investment firm has signed an agreement with Quadrant Private Equity, Rodney Kagan, Five V Capital, and other shareholders of the Australian firm.

Established in 1979 by co-chairman Rodney Kagan, Probe CX is now among the leading provider of outsourced CX and BPO services in Australia as well as New Zealand.

The company has over 600 clients and a workforce of more than 15,000 staff in its 33 offices around the world.

Andrew Hume — CEO of Probe CX said: “Customer experience is truly at the heart of our business. Through our intelligent, tailored solutions, Probe enables companies to consistently deliver positive and enriching experiences to their customers.

“With this mission in mind, we are really excited to welcome KKR as a shareholder and value-added strategic partner, as their experience in transforming CX and BPO companies globally will be invaluable in our next phase of growth.”

KKR’s investment will be used for further powering Probe CX’ growth and consolidate its digital capabilities to improve its service offering to customers.

Gareth Woodbridge — Managing Director at KKR said: “We are excited to work closely with Andrew and his team to expand Probe CX’s leading market position. We look forward to leveraging KKR’s industry and operational expertise to help accelerate Probe CX’s growth plans and to scale its digital services capabilities and footprint for the benefit of its customers.”

The deal, which is contingent on regulatory approvals and other customary closing conditions, is anticipated to close by the year end.