Onex agrees to sell Sitel Worldwide to undisclosed buyer
Canadian private equity firm Onex Corp has agreed to sell Sitel Worldwide Corp, a provider of outsourced customer care and back-office processing services based in Nashville, Tennessee. The buyer was not disclosed. Upon the deal's closing, expected later this year, Onex said its proceeds are likely to be about US$55 million, which includes an earn-out component. In 2007, ClientLogic, a portfolio investment of Onex, acquired and merged with Sitel. In February, Reuters reported that Onex was looking to sell the business. Sitel is also a portfolio company of OMERS Private Equity, the private equity investment arm of the Ontario Municipal Employees Retirement System.
10 July 2015•2 mins read
