Alorica – a rapidly growing and trusted global leader in next-generation customer experience (CX) solutions – announced it closed a refinancing led by Cerberus Business Finance, LLC, and its affiliates. Through a directly negotiated transaction, Alorica received a $725 million senior secured term loan along with an upsized $300 million ABL facility provided by a syndicate of banks. The comprehensive refinancing optimizes Alorica’s financial position and growth potential through market, business, product, technology, and talent investments.
This refinancing affords additional liquidity and strategic flexibility to advance growth imperatives as the company accelerates demand for its CX solutions. And since 2020, Alorica has organically grown its revenues by 23% and EBITDA by 50+%, and is continuing its expansion by adding global talent, in-market delivery, and onboarding clients across Europe, the Middle East, and Africa (EMEA), India, Philippines, North America, Latin America, and the Caribbean. In the first quarter, the digital CX provider announced launches in Łódź, Poland, and Cairo, Egypt.
Alorica – which is known for its client-centric focus and scalable workforce – is committed to continually improving performance, global delivery, and integration of future-ready technology. And its hallmark ability to combine technology and people will remain supported by its ongoing investment in next-generation services rooted in AI/ML as part of the newly formed AloricaIQ, the company’s global center of excellence for the design and delivery of digital solutions. And these investments will further enhance the organization’s hybrid operating models, including its cloud-based work-at-home offering, Alorica Anywhere.
KEY QUOTES:
“As Alorica becomes an increasingly globalized company, our solutions combining world-class talent, technology and services continue to progress to meet market demand. Having a strong financial partner in Cerberus will help us quicken our growth plan as part of our strategic journey.”
- Greg Haller, Chief Executive Officer of Alorica
“Looking forward, the future continues to be bright – the Cerberus team has a long-term view, collaborative approach, and their style makes them an ideal partner for Alorica as well as many other strong, growing organizations. We successfully completed this directly negotiated deal with Cerberus in a tough financial market, which speaks to our outstanding financial performance and outlook as we continue to transform the industry.”
- Alorica’s Chief Financial Officer Max Schwendner
“Alorica is an industry leader with a proven track record of excellence. This transaction emphasizes our confidence in its leadership team and our commitment to serving our clients in various economic cycles. We’re very supportive of Alorica’s clear vision and ability to meet the evolving needs of its customers.”
- Dan Wolf, Chief Executive Officer of Cerberus Business Finance
