Startek goes private with Capital Square Partners’ acquisition for $4.3 per share
Startek, Inc. (NYSE: SRT), a renowned global customer experience (CX) solutions provider, announced the completion of its acquisition by Capital Square Partners (CSP), effective January 5, 2024.
Under the agreement, CSP acquired all shares of Startek not previously owned by them for $4.30 per share in cash, valuing the company at approximately $217 million.
Following the acquisition, Startek’s common stock ceased trading on the NYSE and will no longer be listed, marking a significant transition in the company’s operational structure.
Houlihan Lokey Capital, Inc. acted as the financial advisor, and Gibson, Dunn & Crutcher LLP provided legal counsel to Startek’s Special Committee. Latham & Watkins LLP served as legal counsel to CSP. The agreement, announced on October 10, 2023, offered a premium of approximately 32% over Startek’s closing share price preceding the public disclosure of the transaction.
Capital Square Partners Completes Take-Private Acquisition of Startek
Startek, with over 35 years of experience in delivering CX excellence, operates in 12 countries with 38,000 associates. The company serves clients ranging from Fortune 500s to fast-growing startups across various industries. The acquisition by CSP represents a strategic advancement in Startek’s mission to deliver superior customer experiences globally.
The acquisition is expected to bolster Startek’s capabilities and facilitate its growth in the CX solutions sector. CSP’s investment will enable Startek to leverage its expertise and expand its reach, enhancing its services for a diverse clientele. The focus will remain on innovation and delivering personalized experiences in both voice and non-voice channels.
The take-private acquisition of Startek by Capital Square Partners marks a pivotal development in the customer experience solutions industry. This strategic move aligns with Startek’s goal of global expansion and underscores the growing importance of CX solutions in today’s digital world. The acquisition is set to drive Startek’s growth, enhance its service offerings, and contribute to its long-term success in the global market.