Vantage Capital, a leading African mezzanine fund manager, has made a significant investment in Procera, a prominent business process outsourcing (BPO) company based in South Africa. The investment includes the acquisition of a substantial minority equity stake from Procera’s founders and the provision of a mezzanine facility to support the company’s future strategic acquisitions.
Evolution of Procera: From Debt Recovery to Integrated BPO Services
Founded in 1990 as a debt recovery solutions provider, Procera has undergone significant evolution over the last three decades. Today, it stands as an integrated BPO services group, offering support solutions to clients across various industries and geographies. With a client base comprising over 50 local and international blue-chip clients, Procera operates in key sectors such as retail, financial services, energy, and telecommunications. Its reach extends beyond South Africa to include Namibia, the United Kingdom, the United States, and Australia.
Vantage Capital’s Perspective: Opportunities for Growth and Impact
Roshal Ramdenee, associate partner at Vantage Capital, highlighted the immense opportunity for job creation and positive economic impact as Procera continues its rapid international expansion and innovation in the BPO space. Vantage is enthusiastic about partnering with Procera’s capable management team and committed long-term investors.
Warren van der Merwe, managing partner at Vantage Capital, underscored the rarity of finding fast-growing South African businesses that are competitive in developed markets. He expressed Vantage’s excitement to invest in Procera’s next phase of growth and development, recognizing the admirable business built by its founders, shareholders, and management team.
Procera’s Vision for the Future: International Market Expansion
Crispin Sonn, chairman at Procera, expressed gratitude for the long-term support of Vantage and its team of seasoned investors. He emphasized Procera’s commitment to expanding its business services footprint into international markets, leveraging Vantage’s support to fuel further growth and success.
Advisory Support
PwC served as the financial advisor to the transaction, while Werksmans acted as legal counsel for Vantage. Other advisors involved in the transaction included Step Advisory, Ernst and Young, Webber Wentzel, Eversheds, STBB, and IBIS Consulting.