Capita agrees £157m acquisition of Germany's Avocis
Outsourcing group Capita has agreed the acquisition of German customer services firm Avocis for £157m.
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The acquisition of Avocis, which offers call centre services in Germany, Switzerland and Austria but with Germany accounting for 53% of its revenue, is still subject to approval from German competition authority Bundeskartellamt and has been made on a cash and debt-free basis.
Avocis is under private equity majority ownership at the moment and had pro forma revenues of €210m in the financial year ended 31 December 2014. The firm .
Capita chief executive Andy Parker noted: “The acquisition of Avocis provides us with immediate scale and further capabilities in this territory. Avocis has a strong position in the German speaking regions of Europe with long term and growing relationships with quality private sector clients.
“We will be able to offer these clients access to Capita's wider transformation capabilities and services and establish a strong platform for developing relationships with new clients in the region.”