The investment will solidify Alorica’s financial position, reduce its debt burden, in addition to extending debt maturities. Analysts say the refinancing will also provide Alorica with US$200 million in liquidity.
Irvine, Calif-based call center operator says it will use the new funding to expand operations as well as to refine its technology platforms. As part of the deal, Apollo Partner Robert Kalsow-Ramos will join Alorica’s board of directors.
“We believe Alorica has the right combination of expertise, scale, and transformational strategy,” says Ramos.
Alorica’s CEO Andy Lee says the funding gives the company “one of the healthiest balance sheets” in the industry and positions it on a growth path.
“This will enable us to accelerate what we set out to do since day one—invest in our best-in-class talent and technology to deliver our clients industry-leading solutions.”
The news comes almost four months after the BPO provider unveiled a technology platform called Alorica Anywhere, vowing to hire 30,000 people for its operations around the globe.
Alorica Anywhere is specifically designed to help agents serve clients in a work-at-home (WAH) environment. The platform also eases the task of hiring and training employees working remotely.
The company has operations in seven Nearshore countries, including Guatemala, Honduras, Dominican Republic, Panama, Jamaica, Colombia and Uruguay.