Salmat sale to free up capital
ASX-listed Salmat (ASX: SLM) is selling its contact centre business to funds advised by Five V Capital in combination with the Probe Group for $53 million, in order to free up capital and resources to invest in its Marketing Solutions and MicroSourcing businesses. The sale is expected to be completed at the end of April.
Salmat CEO, Rebecca Lowde, said the decision to sell the contact centre business followed an analysis of the entire Salmat Group through a strategic review process, which also led to the sale of Salmat’s MessageNet and Interactive businesses in the first half of FY18.
“The sale is in line with Salmat’s strategy to focus on innovating Salmat’s core capabilities for long-term sustainability, and reflects the opportunity for consolidation in the Australian outsourced contact centre market,” Lowde said.
“The change in ownership will allow our contact centres to continue customer-centric service and benefit from further investment to capitalise on growth opportunities.
“Selling our contact centre business frees up capital and group resources to invest in our Marketing Solutions and MicroSourcing businesses.
“With recent research conducted for Salmat indicating that search, brand websites, and letterbox/online catalogues rank in the top six channels consumers use to inform their purchase decisions, Salmat’s Marketing Solutions business is well placed to deliver results for our clients and drive profitable growth and long term sustainability.
“With this divestment, we are now more focused on further enhancing our Marketing Solutions offer and enabling the continued success and growth of our MicroSourcing business,” she said.
Salmat will provide transitional services post Completion to separate the Contact business from Salmat.
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