Boyne Capital is pleased to announce that one of its affiliates has partnered with management to acquire Flatworld Solutions, Inc., a business process outsourcing and automation (BPO/BPA) company providing services to the following industries: Banking, Financial Services, and Insurance (BFSI), Customer Experience, Healthcare, Software Development, IT Enabled Services, Engineering, and Customs Brokerage & Logistics. Through its subsidiary, Quadratic Insights Pvt. Ltd. (“Quadratics”), Flatworld also offers artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) solutions.
Founded in 2002, the Company uses technology, software, and skilled IT labor to service customers. Flatworld and its affiliates employ over 8,000 product specialists across strategically located delivery centers in Bangalore and Hyderabad, India and Davao City, Philippines, providing access to talented and cost-effective labor. Flatworld excels in its ability to provide complex BPO/BPA services enhanced by highly trained professionals on staff such as doctors, engineers, and finance and accounting experts.
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Boyne Managing Partner and CEO, Derek McDowell, said, “Flatworld’s ability to consistently deliver high quality services across a breadth of sectors and capabilities differentiates them from their peers. We are impressed by the customer-centric, global organization the Flatworld management team has built, and we are excited to be partnering with co-founders Jacob William, David Antony, and Anand Mathews to help Flatworld achieve its full potential.”
Josh Bilmes, Principal, said, “Boyne is excited to welcome Flatworld to its portfolio. The Flatworld leadership team has impressed us with their commitment to growth while maintaining an emphasis on high customer satisfaction. We look forward to accelerating the Company’s progress and helping establish the infrastructure needed to support rapid expansion.”
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Flatworld’s co-founders said, “Flatworld is at an inflection point and has numerous avenues for growth. In Boyne Capital, we found a constructive and thoughtful partner to help us unlock our full potential via both organic investment and strategic M&A. We’ve already begun laying the foundation for this growth phase, and we’re energized by what we believe the future holds for Flatworld.”
The Flatworld transaction represents a recent platform investment in BCM Fund II (“Fund”). The Fund is dedicated to investing in the lower middle market sector, specifically companies with revenues of less than $100 million and with EBITDA of $3 million to $15 million.
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