Shearman & Sterling is advising Capital Square Partners, a Singapore-based private equity fund manager with a focus on the technology, media & telecommunications, healthcare, business services and consumer sectors across Southeast Asia and India, on its acquisition of ESM Holdings Limited, the holding company of the Aegis group (Aegis), from AGC Holdings Limited, a wholly owned portfolio company of Essar Global Fund (Essar). The closing of the transaction is conditional on customary regulatory approvals.
Aegis is a leading outsourcing business solutions partner to global corporations in the telecom, technology, media, banking financial services and insurance, travel and logistics, retail and e-commerce and public sectors. 40,000+ Aegis experts across 47 centers worldwide deliver customer lifecycle management, technology services, back office services and social media analytics to power superior business results for clients. Essar operates a number of world-class assets diversified across the core sectors of energy, metals & mining, infrastructure and services (primarily comprising shipping and BPO businesses). The aggregated revenues of the fund’s portfolio companies total US$27 billion. The fund’s portfolio companies employ over 60,000 people across four continents.
The Shearman & Sterling Mergers & Acquisitions team previously advised Capital Square Partners on its investment in the Minacs group in May 2014 and the subsequent sale of Minacs to Concentrix Global Holdings Inc. in August 2016. Both transactions were led by partner Sidharth Bhasin (Singapore-Mergers & Acquisitions).
The Shearman and Sterling team was led by partner Sidharth Bhasin
(Singapore-Mergers & Acquisitions) with support from associates James Clayton-Payne (Singapore-Mergers & Acquisitions) and Matthew Sherman (Singapore-Mergers & Acquisitions).