Altor in early dual-track preparations to exit Transcom

Auri Aittokallio
08 April 2022

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Altor is preparing to exit Transcom, a Sweden-headquartered business process outsourcing (BPO) services provider, through a dual-track process, two sources familiar with the situation said.

Rothschild is mandated as sale adviser, these and one more source familiar said. JP Morgan is advising on the IPO track, two of the sources said.

The process is not imminent and not likely to start until later this year or even 2023, one of the sources said, adding that Altor wants to wait until "there is a functioning IPO market" again.

Altor started considering a listing of the business last year, according to a local news report in May.

Transcom recorded EUR 623m FY21 revenue and EUR 74.8m EBITDA (excluding non-recurring items), up from EUR 557.8m and 70.8m, respectively, in FY20.

Transcom was established by Swedish investment company Kinnevik in 1995 and was listed on the Stockholm stock exchange in 2001. Altor acquired a 24.5% stake in the business, becoming the largest shareholder, in 2015. In 2017, Altor completed the public takeover and Transcom was delisted.

Transcom offers services including customer experience (CX) advisory, customer care, sales, technical support, and collections services through a network of contact centres and remote agents. It has around 30,000 employees at 69 contact centres across 26 countries, delivering services in 33 languages, according to its LinkedIn profile. It serves customers from a range of sectors, including telecoms, tech, ecommerce, and utilities, according to the company website.

Altor and Transcom declined to comment. Rothschild and JP Morgan did not respond to requests to comment.