{"id":322660,"date":"2021-07-13T10:00:09","date_gmt":"2021-07-13T10:00:09","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=322660"},"modified":"2021-07-13T11:33:43","modified_gmt":"2021-07-13T11:33:43","slug":"efg-hermes-completes-advisory-on-raya-acquisition-of-gulf-customer-experience","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/07\/13\/efg-hermes-completes-advisory-on-raya-acquisition-of-gulf-customer-experience\/","title":{"rendered":"EFG Hermes completes advisory on Raya acquisition of Gulf Customer Experience"},"content":{"rendered":"

EFG Hermes has announced that its Investment Banking division successfully concluded advisory on Raya Contact Centre\u2019s acquisition of an 85% stake in Bahrain-based call centre company Gulf Customer Experience (Gulf CX).<\/p>\n

\"\"
Mostafa Gad, Co-Head of Investment Banking at EFG Hermes.<\/figcaption><\/figure>\n

The deal was worth an enterprise value of $12.2 million, with the remaining stake to be acquired over the next 3 years.<\/p>\n

Mostafa Gad, Co-Head of Investment Banking at EFG Hermes, commented on the transaction: \u201cWe are thrilled to be cementing our partnership with RCC in this cross-border acquisition of Bahrain-based Gulf CX, a leading contact center operator in the country. RCC aims to expand its footprint in the GCC aiming to become the region’s cloud and data centre hub.<\/p>\n

The deal marks an important milestone in RCC\u2019s growth story and our desire to do business in countries of strategic importance to the region\u2019s economic development. We will continue to capitalize on the solid track record we\u2019ve built over the years, which spans multiple markets and industries, to provide key advisory to clients in the years to come, as we see deal flow pick-up both in the M&A and ECM space in the region.\u201d<\/p>\n

RCC is a listed subsidiary of Raya Holding for Financial Investments, a leading regional investment company with a diversified portfolio of digital solutions and technology platforms.<\/p>\n

It has been the partner of choice for customer service, technical support, and global services for Fortune 1000 companies across North America, Europe, the Middle East, and Africa since 2001<\/p>\n

RCC aims to cement its presence in the GCC as an initial step on its journey to becoming a global customer experience services provider, offering 360\u00b0 multi-channel customer support services to its clients. The transaction will also unlock the KSA market, which RCC has been eyeing since its IPO.<\/p>\n

In addition to market penetration, the acquisition will also offer access to attractive verticals such as e-commerce, online retails, fintech and health-tech. RCC was listed on the EGX in 2017, with EFG Hermes acting as sole global coordinator and bookrunner on the IPO.<\/p>\n

Founded in 2015, Gulf CX is a leading Bahraini provider of customer service delivery solutions in the region, serving over 40 clients in more than 10 countries through offices in Bahrain, the UAE, and Saudi Arabia. It offers client contact centre platforms, automation and AI integration solutions, strategic consulting services, and more.<\/p>\n

EFG Hermes acted as RCC\u2019s sole financial advisor while Al Tamimi & Company acted as legal advisor.<\/p>\n

The deal follows on the heels of EFG Hermes\u2019 successful advisory on UAE-based Agthia Group\u2019s sale and purchase agreement (SPA) of 100% of Kuwait\u2019s Al Faysal Bakery & Sweets in January 2021 and the successful conclusion of the $144 million (AED529 million) IPO of Alkhorayef Water & Power Technologies (AWPT) in Saudi Arabia in March 2021<\/p>\n","protected":false},"excerpt":{"rendered":"

EFG Hermes has announced that its Investment Banking division successfully concluded advisory on Raya Contact Centre\u2019s acquisition of an 85% stake in Bahrain-based call centre company Gulf Customer Experience (Gulf CX).<\/p>\n","protected":false},"author":4,"featured_media":320827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[82],"class_list":["post-322660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-efg-hermes"],"yoast_head":"\nEFG Hermes completes advisory on Raya acquisition of Gulf Customer Experience - egy-africa<\/title>\n<meta name=\"description\" content=\"EFG Hermes has announced that its Investment Banking division successfully concluded advisory on Raya Contact Centre\u2019s acquisition of an 85% stake in Bahrain-based call centre company Gulf Customer Experience (Gulf CX).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/07\/13\/efg-hermes-completes-advisory-on-raya-acquisition-of-gulf-customer-experience\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes completes advisory on Raya acquisition of Gulf Customer Experience - 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