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KKR [NYSE: KKR] Announces Acquisition of Probe CX

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KKR & Co. Inc. [NYSE: KKR] disclosed that it has inked an acquisition agreement with Quadrant Private Equity, Five V Capital, Rodney Kagan, and other shareholders of Probe CX. As per the agreement, KKR has purchased a majority holding in Probe together with the current administration. Probe CX has earned a reputation as a preeminent provider of customer experience and business process outsourcing solutions based in Australia.

KKR disclosed that this acquisition is beneficial for KKR and Probe CX. The investment of KKR in Probe CX will be utilized to further increase Probe’s strong growth and bolster its digital capabilities to improve its service offering to customers. Since Probe’s inception in 1979 by Co-chairman Rodney Kagan, it became the largest provider of outsourced CX and BPO services in Australia and New Zealand.

Furthermore, it has been disclosed that KKR invests this through its Asian Fund IV. The firm’s investment in Probe CX is based on its successful track record of investing in Australia. KKR also has expertise in successfully increasing businesses in the CX industry worldwide. Previously, it has made an investment in Webhelp which is a leading provider of CX and BPO solutions throughout Europe.

In addition, the acquisition agreement is anticipated to be executed by the end of the calendar year 2021. Its execution depends on the regulatory authorizations and other traditional closing conditions. The advisor of Probe CX was , PwC, Gilbert + Tobin, and Morgan Stanley Australia Limited. On the other hand, the advisor of KKR was Credit Suisse, EY, and King & Wood Mallesons.

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