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June 20, 2023

PE firm PAI Partners acquires a co-controlling stake in Hg Capital-owned Azets - Process first covered by NKP on 05 September 2022

Press Release
On 05 September 2022, NKP exclusively reported that Hg Capital-owned Azets (formerly Cogital) which was partly built upon the 2016 carve out of Visma's Oslo-headquartered BPO division, was being prepared for a sale in a process advised by J.P. Morgan and Skadden Arps. At the beginning of May this year, NKP updated on the process, stating that it had entered an advanced stage. It has now been announced that the PE firm PAI Partners has acquired a co-controlling stake in Azets, which will be equal to the stake of Hg Capital. Azets consists of approximately 7,600 FTEs and reported revenues of GBP 700m in FY22.
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Transaction announcement
Originally surfaced by NKP | M&A Insights as:
May 2, 2023

Update: J.P. Morgan-advised sale of Hg Capital-owned Azets, a leading Northern European BPO firm, is in an advanced stage according to multiple sources, first covered by NKP on 05 September 2022 (NKP Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
September 5, 2022

Hg Capital-owned Azets (formerly Cogital) which was partly built upon the 2016 carve out of Visma's Oslo-headquartered BPO division, is being prepared for a sale in process advised by J.P. Morgan and Skadden Arps according to sources (NKP Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
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