Shearman & Sterling advised Capital Square Partners in connection with the completion of the acquisition of a controlling stake in StarTek, Inc. and the sale of the Aegis business to StarTek. On July 20, 2018, StarTek, CSP Alpha Holdings Parent Pte Ltd (“Aegis Stockholder") and Aegis completed the transaction and created a combined business with pro forma revenues exceeding US$700 million.
Aegis will become a wholly owned subsidiary of StarTek, and Capital Square Partners is expected to hold a majority stake of StarTek’s outstanding common stock.
The combined business will remain publicly listed on the NYSE under the name “StarTek, Inc.” and the ticker symbol “SRT,” and the headquarters will remain outside of Denver, CO. The combined business has over 50,000 employees and a significant presence across 66 business process outsourcing (BPO) locations in 13 countries and 6 continents.
StarTek (NYSE: SRT) is a business process outsourcing service provider delivering comprehensive contact center and customer engagement solutions. With the latest technology in the BPO industry and the STARTEK Advantage System, StarTek instills customer loyalty through a variety of multi-channel customer interactions, including voice, chat, email and IVR. Its service offerings include sales support, order processing, customer care and receivables management, and customer analytics.
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 44 centers worldwide deliver customer lifecycle management, technology services, back office services and social media analytics to power superior business results for clients.
Capital Square Partners is a private equity fund manager based in Singapore and regulated by the Monetary Authority of Singapore (MAS). It primarily invests in buyouts and control investments across multi-geography cross-border businesses, with deep sector expertise and focus on the technology, media and telecommunications, business services, healthcare and consumer sectors. It has made a number of investments in the technology services and BPO sectors, and has extensive operational expertise in these areas.
The Shearman & Sterling team was led by partner Sidharth Bhasin (Singapore-Mergers & Acquisitions) and associates Grace Jamgochian and Gina Seong (both New York-Mergers & Acquisitions). Other lawyers involved in the transaction are listed below.