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Melbourne, Australia, Oct, 2021 -- Quadrant Private Equity, Five V Capital, Rodney Kagan and other shareholders of Probe CX ("Probe" or the "Company") announced they have entered into an agreement under which KKR will acquire a majority stake in Probe alongside existing management. The investment will be used to further fuel Probe’s growth and strengthen its digital capabilities to enhance its service offering to customers.

Probe is a provider of customer experience ("CX") and business process outsourcing ("BPO") solutions based in Australia. Probe was founded by Co-chairman Rodney Kagan in 1979.

Andrew Hume, CEO of Probe, said: "Customer experience is truly at the heart of our business. Through our intelligent, tailored solutions, Probe enables companies to consistently deliver positive and enriching experiences to their customers. With this mission in mind, we are really excited to welcome KKR as a shareholder and value-added strategic partner, as their experience in transforming CX and BPO companies globally will be invaluable in our next phase of growth."

Gareth Woodbridge, Managing Director at KKR, said: "We are excited to work closely with Andrew and his team to expand Probe CX’s leading market position. We look forward to leveraging KKR’s industry and operational expertise to help accelerate Probe CX’s growth plans and to scale its digital services capabilities and footprint for the benefit of its customers."

Rodney Kagan, Founder of Probe, said: "It is with much pride and joy that after 43 years I can see Probe continue as the leader in the customer experience and outsourcing industry. Probe’s success has always been to surround itself with the most brilliant, committed, and professional team. I am so passionate for Probe’s future and feel very excited to see KKR help take the Company to the next level on its global journey."

Jonathon Pearce, Managing Partner of Quadrant Private Equity, said: "Probe is a fantastic business led by an exceptional team which has been at the forefront of digital innovation. Over the past 18 months Probe has continued to ensure customers and consumers received the highest quality support despite the external challenges. Now, with KKR’s global reach and capabilities, we believe the business will continue to grow and enhance its service offerings for customers in the years ahead."

The transaction is expected to be completed by the end of calendar year 2021, subject to regulatory approvals and other customary closing conditions. Additional details of the transaction were not disclosed.

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Posted by Veronica Silva Cusi, news correspondent
Source: https://www.businesswire.com

Date Posted: Tuesday, October 5, 2021