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Job fears as Vertex
has new owners
More than 1,000 Merseyside contact centre staff face uncertainty after learning that their employer Vertex has been sold to American venture capitalists.
Parent company, Warrington-based United Utilities (UU), announced that it had sold the facilities management firm to Oak Hill Capital, a consortium of US private equity firms including Oak Hill Partners, GenNx360 and Knox Lawrence International.
The deal will net UU £217.5m, comprising cash, the repayment of debts and the assumption of certain liabilities by the consortium. Both parties hope to conclude the sale by the end of March.
Vertex is based at the Kings business park in Prescot and provides call centre services for UU and a range of clients, including Westminster and Thurrock councils and the Child Support Agency, from a variety of locations around the UK and India.
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17th January 2007 |
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