Vantage Capital, a mezzanine debt fund manager headquartered in South Africa, has invested 346 million South African rands ($18.5 million) into Procera Group (Pty) Limited, a business process outsourcing (BPO) services provider. This investment includes acquiring a significant minority equity stake from Procera's founders and providing a mezzanine facility to support future strategic acquisitions. Procera, founded in 1990, has grown into an integrated BPO services group, catering to over fifty local and international blue-chip clients across various industries such as Retail, Financial Services, Energy, and Telecommunications. With headquarters in South Africa, Procera has expanded its operations to Namibia, the UK, the U.S., and Australia, offering employment opportunities to over two thousand seven hundred individuals and focusing on training and skills development, particularly for women and youth.
The investment aims to fuel Procera’s international expansion and advance its technological solutions in the BPO sector. South Africa’s strong position as a BPO destination, characterized by factors like a skilled English-speaking workforce, favorable time zone, and youth talent pool, aligns well with the company's growth strategy. Vantage Capital expressed optimism about the partnership, citing Procera's impressive business growth and competitiveness in developed markets. The transaction, advised by PWC and legal counsel provided by Werksmans, marks a significant milestone for both companies as they aim to capitalize on the continued global growth in the BPO sector.