M&A Deal Summary

KKR and Quadrant Private Equity Acquire Probe CX

On September 30, 2021, private equity firms KKR and Quadrant Private Equity acquired information technology company Probe CX

Acquisition Highlights
  • This is KKR’s 18th and Quadrant Private Equity’s 2nd transaction in the Information Technology sector.
  • This is KKR’s 14th and Quadrant Private Equity’s 41st transaction in Australia.

M&A Deal Summary

Date 2021-09-30
Target Probe CX
Sector Information Technology
Buyer(s) KKR
Quadrant Private Equity
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Morgan Stanley (Financial)
PwC Law
Gilbert + Tobin (Legal)

Target

Probe CX

Melbourne, Australia
Probe CX is a provider of customer experience (“CX”) and business process outsourcing (“BPO”) solutions with more than 600 clients and over 15,000 staff located in its 33 offices across the globe. Probe CX was founded in 1979 and is based in Melbourne, Australia.

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Buyer(S) 2

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 406 of 487
Sector (Information Technology) 18 of 26
Type (Buyout (LBO, MBO, MBI)) 59 of 68
Country (Australia) 14 of 15
Year (2021) 38 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-15 ForgeRock

San Francisco, California, United States

ForgeRock is the digital identity management company transforming the way organizations interact securely with customers, employees, devices, and things. Organizations adopt the ForgeRock Identity Platform as their digital identity system of record to monetize customer relationships, address stringent regulations for privacy and consent (GDPR, HIPAA, FCC privacy, etc.), and leverage the internet of things. ForgeRock was founded in 2010 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 1440 Foods

New York, New York, United States

1440 Foods is a functional snacking and active lifestyle platform with 4 brands: Pure Protein, Met RX, Body Fortress, and Balance Bar. The Company sells protein bars, protein powders, ready-to-drink protein shakes, and protein salty snacks. 1440 Foods is based in New York City.

Sell -
Buyer

Quadrant Private Equity

Sydney, Australia

Category Private Equity Firm
Founded 1996
PE ASSETS 7.0B AUD
Size Large
Type Sector Agnostic
DESCRIPTION

Quadrant Private Equity is a generalist Australian private equity firm focused on management buyouts, buy-ins, and growth capital investments in a broad range of industries. Quadrant prefers profitable businesses and looks to commit AU$70 to AU$150 million per transaction. The Firm will not consider investments in mineral exploration or primary agriculture. Quadrant Private Equity is based in Sydney.


DEAL STATS #
Overall 45 of 52
Sector (Information Technology) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 22 of 24
Country (Australia) 41 of 47
Year (2021) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-26 Seertech Solutions

Sydney, Australia

Seertech Solutions is a provider of mission-critical learning and compliance management solutions to a diverse range of enterprises. Seertech Solutions are currently delivered to over 6 million users spread across 190 countries. Seertech Solutions was founded in 2003 and is based in Sydney, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-19 Icon Group

South Brisbane, Australia

Icon Group is an integrated cancer care provider with a number clinics providing Radiation Oncology, Medical Oncology and Pharmacy Compounding. Icon Group was founded in 2012 and is based in South Brisbane, Australia.

Sell -