U.S. outsourcing firm Expert Global Solutions, which only last week announced the appointment of Bob Segert as its new CEO, is selling its subsidiary Transworld Systems, Inc to Los Angeles-based private equity firm Platinum Equity.
Transworld Systems, Inc. comprises several business segments within EGS’ ARM business: Transworld Systems, Education, Attorney Network, Healthcare Bad Debt, Government and U.S.-based Third Party Collections.
Once the transaction is completed the business is expected to continue operating as Transworld Systems, Inc, said the BPO provider in a press release.
Segert, who succeeded Ron Rittenmeyer, said his company decided to sell Transworld in order to “sharpen focus on key businesses” such as CRM and First Party Collections.
Plano, Texas-based EGS is the holding company for America’s fast growing call center service provider APAC Customer Services. Segert’s predecessor Rittenmeyer brought both the BPO firms under a single umbrella to capitalize on the growing demand for compliance and customer services in the United States.
“The business has great leadership, powerful proprietary systems and a strong culture of compliance,” said Platinum Equity partner Jacob Kotzubei. “We believe there is a great opportunity to grow the business and maintain the highest standards of excellence by continuing to invest in infrastructure and technology.”
Owned by the private investment arm of JP Morgan Chase & Co., EGS is the world’s largest privately-owned BPO company with more than 100 locations globally and more than 40,000 associates.
Segert was previously the chief executive of GXS, a cloud B2B integrator that was sold to Open Text Corporation for US$1.7 billion earlier this year.