Capital Square Partners acquire Aditya Birla Minacs for $260 mn

Capital Square Partners (CSP) and CX Partners (CXP) has entered into an agreement to acquire Aditya Birla Minacs from ABNL IT & ITeS, a wholly owned subsidiary of Aditya Birla Nuvo (ABNL) at an enterprise value of $260 million subject to the working capital adjustments.

The transaction is subject to customary closing conditions, third party consents and regulatory approvals, and is expected to close in 2 – 3 months.

Dr Rakesh Jain, managing director, Aditya Birla Nuvo said, “Considering ABNL’s capital commitment and growth plans for other businesses, the Company has decided to divest Minacs. We are confident that the new shareholders will provide the requisite direction to Minacs and enable it to rise to its full potential.”

Investors Sanjay Chakrabarty and Aparup Sengupta, Partners of CSP, an investment holding company investing partners’ principal capital in private companies, jointly stated, “We are extremely excited about our acquisition of Minacs, a storied BPO player with a rich, three-decade history of serving a blue chip roster of clients. We see tremendous opportunity to add value to Minacs’ strategic roadmap by building on its great capabilities in customer lifecycle, marketing and other back office services.”

Ajay Relan, managing partner, CX Advisors, advisors to CXP said, “We are indeed excited to be a part of this new journey of Minacs in the coming years.”

Deepak Patel, CEO, Minacs remarked, “We have built a solid foundation with Aditya Birla Nuvo, an Aditya Birla Group company, as our parent. With our new investors’ extensive domain experience, we see further impetus to Minacs’ strategic vision. We now look forward to the opportunity of enhancing our competitive advantage as a global outsourcing business solutions company.”

“Towards this goal, we will invest in extending our capabilities, scale, technology platforms, cutting-edge expertise and delivery centers. We are committed to leveraging our rich heritage to become an even stronger, value-adding business partner to our clients, and a leading provider of CRM, marketing and transaction processing services,” added Patel.

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