InterFinancial, through its IP focused division IFL Ventures, has advised business process outsourcing (BPO) company, Beepo on its sale to Probe Group, the Melbourne-headquartered BPO business backed by the private equity firm Five V Capital.
Beepo, is a QLD-based company with a workforce of over 400 staff in Clark, Philippines. The company’s customer base includes small- to medium-sized clients in Australia with a focus on staff leasing. Beepo was founded by marketing expert and entrepreneur, Aimee Engelmann who started the business in 2014.
Probe Group is a large BPO operator with close to 5,000 seats across Australia, New Zealand and the Philippines, with offerings including; client services, debt collections, processing and field services.
Five V Capital acquired Probe in early 2018 and has since been looking out for further investment opportunities in the Australian BPO sector. Beepo’s experience in providing knowledge-based staff hire solutions, the ‘know-how’ and processes it has built up over the past few years, combined with its existing client base, were considered a valuable package solution which will add value to Probe’s operations by the investor. The now ex-CEO of Beepo and the CEO of Probe considered the acquisition a great strategic fit for the future of both companies.
InterFinancial represented Beepo throughout the sale process, from preparing the information memorandum, marketing, to managing the due diligence process, assisting with the SSA negotiation and completion. InterFinancial helped the shareholders realize a strong exit value and structured a clean exit.
The transaction value is undisclosed.
“Exiting a business after 6 years is not a decision that is made lightly. After an extensive search process, I began working with IFL Ventures to seek potential acquirers for my company. I could not imagine going through the process end to end without the focus, advice, hard work, and support of the IFL team. From the beginning stages of seeking potential interest, right through to the conclusion of the transaction, the IFL team were with me 100%. I found their advice to be exceptional, I was super impressed by the number of interested parties that they qualified. They negotiated well and ensured specific goals were met. The IFL team worked under extremely tight time frames for the transaction and they consistently went over and above to meet the end goal. The result was win-win on both sides, with the acquirer being a perfect fit. I have no hesitation in recommending IFL Ventures.”
Aimee Engelmann – Founder and CEO – Beepo