Alorica refinances with $725M to drive global CX solutions
Alorica, a fast growing, next-gen customer experience (CX) solutions provider, is announcing it closed a refinancing process, having acquired a $725 million senior secured term loan, led by Cerberus Business Finance, LLC, and its affiliates. The directly negotiated transaction is compounded by an upsized $300 million ABL facility provided by a group of banks, according to the company.
Alorica's refinancing will be dedicated toward enhancing the company’s financial status and potential growth via business, market, product, talent, and technology investments. The company’s client-centric focus, paired with its scalable workforce, is working toward enhancing the performance, integration, and global delivery of its technology.
Alorica has been met with an extensive growth in revenue for its CX solutions since 2020; in revenue growth, Alorica has increased by 23% and EBITDA by approximately 50%. The refinancing will be leveraged to accommodate and accelerate this growth, providing both additional liquidity and strategic flexibility.
“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,” said Max Schwendner, chief financial officer at Alorica. “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.”
The expansion of Alorica is beginning to address a global market; the company is adding global talent, in-market delivery, and is onboarding clients across Europe, the Middle East and Africa (EMEA), India, Philippines, North America, Latin America, and the Caribbean.
“As Alorica becomes an increasingly globalized company, our solutions combining world-class talent, technology, and services continue to progress to meet market demand,” said Greg Haller, CEO of Alorica. “Having a strong financial partner in Cerberus will help us quicken our growth plan as part of our strategic journey.”
Ongoing investment in AI and ML—resulting in the newly formed AloricaIQ, a global center of excellence for the design and delivery of the company’s digital solutions—will propel Alorica’s CX solution innovation in addition to its refinancing. The investment will improve the company’s hybrid operating models, including Alorica Anywhere, a cloud-based, multi-channel, work-from-home CX solution.
To learn more about Alorica’s refinancing, growth strategy, and CX solutions, please visit https://www.alorica.com/.