Global provider of business process solutions, strategic consulting and data analytics services
SourceHOV provides outsourcing services to high-volume, data-driven, and information intensive industries. The company services a blue chip customer base, including more than half of the Fortune 100 companies. Vector Capital invested after the company was created by combining Sourcecorp and HOV Services.
Insight & Approach
Vector Credit stress-tested the synergy plan by each action and built a downside case based on only the easiest synergies being realized. Our diligence found that customers who canceled SourceHOV contracts often returned to SourceHOV because they did not have the right expertise to do the work in-house. Vector was able to invest in the First Lien and Second Lien securities at material discounts to par.