Sri Lanka’s John Keells Holdings (JKH) has acquired a 44 per cent equity stake in Quatrro Finance & Accounting Solutions for around Rs 23 crore ($5.7 million). Quatrro Finance & Accounting Solutions is a business unit of the Delhi-based Quatrro group founded by Raman Roy.
The investment made by JKH is a part of the acquisition that Quatrro announced today. The company acquired the captive accounts unit of Chicago-based RSM McGladery’s Financial Process Outsourcing (FPO).
The acquisition has been made with JKH in a structured financial transaction using a combination of instruments including debt and equity.
Following the acquisition, RSM McGladery FPO proposes to take advantage of Quatrro’s offshore processing expertise to expand its customer base.This acquisition will provide Quatrro access to over 2,000 customers of McGladery. Quatrro will add two new US fulfilment locations in Madison and Pleasant Prairie and one location in Mumbai to its existing centres in India, China, North America and Sri Lanka.
Read more in The Business Standard article.
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