Strait Lane Capital Partners, LLC (“Strait Lane”) is pleased to announce it has completed the sale of Arise Holdings, Inc. (“Arise”).
Founded in 1994 and acquired in March 2018 by an investor group led by Strait Lane, Arise is an on-demand customer management business process management platform, offering a customer management platform and product support services across North America and the United Kingdom. Arise’s platform provides clients access to unparalleled support services provided through a virtual network that connects primarily work-at-home services partners to companies needing all types of business process management services, with primary focus in the customer experience industry.
In approximately 21 months, this investment and related exit transaction resulted in an effective gross multiple of invested cash and IRR of approximately 4.4x and 120%, respectively.
Warren Edwards, Strait Lane’s President and Managing Partner said, “As we began our diligence of Arise a little more than two years ago we were drawn to the very unique business platform they had built and were operating. It was unlike anything Mark or I had ever seen in too-many-to-count years in the global business process outsourcing industry. Our basic thesis was simple: Arise would likely grow much faster than the overall industry due to their virtual platform. We were proven right as we saw EBITDA increase over 140% since our acquisition. While our hold period was relatively short when compared to our other portfolio companies, we recognize that with Warburg Pincus and Vivtera’s backing, Arise’s ability to reach new markets will be even further accelerated. For our investors, we are very pleased with the return profile, which was simply outstanding.”
John Meyer, Executive Chairman of Arise Acquisition Holdings, LLC said, “Having been involved with the business since 2011, it is with tremendous pride to see how the business has evolved. We built a highly flexible virtual platform that is superior to meeting our clients’ needs. I am very proud of my relationship with Arise and the entire Strait Lane team and wish Warburg Pincus, Vivtera, Strait Lane and the entire Arise management team and its employees nothing but success in their future endeavors.”
Foley & Lardner LLP served as legal counsel.