PE Fund Investments
EQT acquires controlling stake in GeBBS Healthcare from ChrysCapital for $800-M
Home grown Private Equity firm ChrysCapital is to sell a controlling stake in healthcare BPO firm GeBBS Healthcare Solutions to global investment firm EQT (via BPEA Private Equity Fund VIII).Jefferies and Avendus were the financial advisors to GeBBS and the selling shareholders. Cooley and Shardul Amarchand Mangaldas served as legal counsel to ChrysCapital. EY was the accounting advisor and PwC was the tax advisor. EQT was advised by Ropes & Gray, JSA Law, Deloitte Touche Tohmatsu Ltd, and PwC.Founded in 2005, GeBBS has 13,000 employees across the US, India, the Dominican Republic, and the Philippines, and serves US-based healthcare providers, including hospitals and physician practices.With this transaction, BPEA Private Equity Fund VIII is expected to be 70-75 percent invested.ChrysCapital had acquired an 80% stake in GeBBS in 2018 for USD 140 million at a valuation of USD 175 million. The founders of GeBBS hold the residual stake in the company. GeBBS had posted revenue of about USD 200 million in FY24.
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