Buyout firms said to seek $500 million sale of outsourcer Minacs
TOKYO: Minacs Ltd., the outsourcing company with headquarters in North America and India, has been put up for sale by its private-equity owners, people with knowledge of the matter said. Asian buyout firms Capital Square Partners and CX Partners are seeking a valuation of more than $500 million for Minacs, the people said, asking not to be identified as the information is private. Minacs has annual earnings before interest, taxes, depreciation and amortization, or Ebitda, of about $50 million to $60 million, two of the people said. A deal would add to the $73.6 billion of acquisitions globally involving computer services companies in the past 12 months, according to data compiled by Bloomberg. Minacs, which traces its roots back to 1981, provides technology outsourcing and business process outsourcing with a workforce of about 21,000 across its 35 offices. The company was formed in its current state in 2007, after Indian tycoon Kumar Mangalam Birla merged local outsourcing company TransWorks Information Services Pvt. with North American customer relationship management firm Minacs Worldwide Inc., according to its website. Minacs later grew through a combination with PSI Data Systems Ltd. in 2009. Aditya Birla Nuvo Ltd., backed by the Indian billionaire, sold Minacs to its current owners in a 2014 deal that valued the outsourcing firm at $260 million including debt.