Ardian, formerly known as AXA Private Equity, has agreed to sell Competence Call Center Holding (CCC), an Austrian-based call centre operator, to Silverfleet Capital.
Financial details of the transaction, which still needs to be approved by competition authorities, were undisclosed. Bank financing will be provided by Bank of Ireland and DZ Bank, according to a statement.
CCC, which was founded in 1998, offers services in 28 languages and operates out of 11 locations in Austria, France, Germany, Romania, Switzerland, Slovakia and Turkey. CCC expects to generate more than €100 million of revenue in 2014.
Ardian backed the company in 2009 using its AXA Expansion Fund II, a €353 million vehicle that was raised in 2006, according to PEI’s Research and Analytics division. Ardian said that under its ownership, the company had consolidated its “premium” positioning, expanded into France and more than doubled its workforce to more than 4,500 employees.
“Together with the excellent management of the company, we have created a unique platform for further growth,” Dirk Wittneben, managing director of small market enterprise capital at Ardian, said in a statement.
Guido May, Silverfleet’s partner with responsibility for German-speaking Europe, called CCC “an extremely high quality business with an excellent management team”. The firm plans to support CCC’s growth and development across Europe, he said.
Silverfleet is currently investing its Silverfleet Capital Partners Fund, a €670 million vehicle raised in 2009, according to PEI’s Research and Analytics division. Silverfleet invests in businesses with an enterprise value of between €75 million and €500 million that are headquartered in the UK, France, German-speaking Europe, Benelux and the Nordic region. It also backs US businesses that have a substantial European presence, according to the firm’s website.
Both Silverfleet and Ardian declined to comment beyond the statement.