HandsOn3, LLC Completes Acquisition of BancTec, Inc.

SANTA MONICA, Calif.--()--HandsOn3 (“HGM”), a global buyout manager based in Santa Monica, CA, announced today that one of its affiliated funds along with Delos Capital Management (“Delos”) has completed the previously announced acquisition of BancTec, Inc. (“BancTec”), a leading Business Process Outsourcing (BPO) company, headquartered in Dallas, TX. The price was not disclosed. HGM will combine BancTec with its existing portfolio business, Dataforce Group, to create one of the largest BPO businesses addressing the transaction processing, workflow and document management markets.

The combined company will have trailing annual revenues in excess of $280 million, serving a blue chip client base spanning over 50 countries, with a global team of more than 4,000 employees across 30 offices and operating centers. Mr. Jim Reynolds, COO and CFO at HGM, and Mr. Coley Clark, Chairman and CEO of BancTec, commented, “This is an exciting step for both companies and will create a diversified, multi-industry service provider. The strong brand, service offerings and talent from both organizations will be leveraged to scale, capture new business and improve customer services and operational efficiency. We are proud to announce that the combined company will operate under the BancTec brand.”

Macquarie Capital acted as exclusive financial advisor to HGM and as sole lead arranger and sole lead bookrunner in connection with the transaction.

Greenhill & Co. acted as financial advisor to BancTec.

About BancTec, Inc.

BancTec is a global leader in business process outsourcing, providing financial transaction automation and document management services for organizations seeking to drive efficiency in their financial back-office processes. With clients in 50 countries, BancTec operates more than 20 delivery centers worldwide, utilizing a common technology platform to deliver reliability, security and consistently high levels of performance. BancTec’s business philosophy is based on building long-term, collaborative relationships – consistently providing business value to its clients, driving opportunity for its employees and creating significant return for its stockholders.

About HandsOn3, LLC

HGM manages several global buyout funds and primarily has investments in the business process services, big data mining and industrial services sectors. Using its proven investment approach from prior funds, the fund’s typical strategy is to acquire diversified businesses led by experienced management teams, with strong fundamentals and significant performance improvement potential. Its business process services portfolio companies serve over 50% of the Fortune 100® companies and employ over 16,000 people in the US, UK, Canada, Germany, France, Spain, Hungary, Netherlands, Sweden, Estonia, Ireland, Scotland, India, Costa Rica, China, Mexico and the Philippines.

For more information, please visit the HGM website at www.handson3.com.

About Delos Capital, LLC

Delos Capital, LLC, founded in 2013, invests opportunistically in North America-based lower middle-market companies in the Chemicals, Packaging, Industrials, and Consumer sectors. The Delos team has a long track record of success in executing complex transactions in these industries and employs a value-oriented sector-driven approach coupled with leveraging trends in the interrelated credit and equity markets.

Contacts

HandsOn3, LLC
Jim Reynolds, +1-424-268-8909
Partner
jim.reynolds@handson3.com
or
BancTec, Inc.
Coley Clark, +1-972-821-4748
Chairman and CEO
coley.clark@banctec.com

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Contacts

HandsOn3, LLC
Jim Reynolds, +1-424-268-8909
Partner
jim.reynolds@handson3.com
or
BancTec, Inc.
Coley Clark, +1-972-821-4748
Chairman and CEO
coley.clark@banctec.com