KKR Said to Be in Advanced Talks to Buy Australia’s Probe Group
(Bloomberg) -- Private equity firm KKR & Co. is in advanced talks to buy Australian outsourcing company Probe Group in a deal that could value it at about A$1.2 billion ($871 million), according to people familiar with the matter.
The U.S. buyout firm is in exclusive discussions with Probe’s owners including private equity backers Quadrant Private Equity and Five V Capital, said the people, who asked not to be identified as the matter is confidential. The deal could be announced as soon as in the next few weeks, they said.
Talks are ongoing and could be delayed or fall apart, the people said. Representatives for Five V, Probe and Quadrant didn’t immediately respond to requests for comment, while a KKR representative declined to comment.
Melbourne-based Probe provides services from customer and credit management to contact-center call routing to data analytics, according to its website. It has more than 15,000 employees and operates in Asia Pacific and North America. Last year Probe announced the acquisition of Australian outsourcing peer Stellar for an undisclosed amount, and completed the deal in October.
Probe is an investment under Quadrant’s sixth private equity fund, which also backs chocolate maker Darrell Lea, according to its website.
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