KKR’s Acquisition of Probe CX

Probe CX was advised by Morgan Stanley Australia Limited, PwC, and Gilbert + Tobin. KKR was advised by Credit Suisse, King & Wood Mallesons, and EY.

Quadrant Private Equity, Five V Capital, Rodney Kagan and other shareholders of Probe CX 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 robust growth and strengthen its digital capabilities to enhance its service offering to customers.

Probe is a leading provider of customer experience (“CX”) and business process outsourcing (“BPO”) solutions based in Australia. Probe was founded by Co-chairman Rodney Kagan in 1979 and is now the largest provider of outsourced CX and BPO services in Australia and New Zealand, with more than 600 clients and over 15,000 staff located in its 33 offices across the globe.

KKR is making this investment from its Asian Fund IV. The firm’s investment in Probe CX builds on its long history of investing in Australia. KKR also has experience in successfully growing businesses in the CX industry globally, including its prior investment in Webhelp – a leading provider of CX and BPO solutions throughout Europe.

Probe CX is a globally recognised and award-winning customer experience organisation that designs and deploys solutions to bolster and optimise our client operations.

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. 

Quadrant Private Equity was first established in 1996 (firstly as Quadrant Capital) and is a leading Sydney-based mid-market private equity firm investing in companies in Australia and New Zealand. 

Five V Capital, a certified B Corporation, is a private equity fund manager based in Sydney with over $900 million of funds under management.

The G+T team was led by Corporate Advisory partner Rachael Bassil (Picture), with support from lawyers Matthew Coe, Rebecca Ryan and Callum Hinwood. 

Involved fees earner: Rachael Bassil – Gilbert + Tobin; Matthew Coe – Gilbert + Tobin; Callum Hinwood – Gilbert + Tobin; Rebecca Ryan – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Five V Capital; Kagan Rodney; Quadrant Private Equity;

Sonia Carcano

Author: Sonia Carcano