Bain Capital said Jan. 9 that it acquired MSX International. Financial terms weren’t announced. MSX, of Detroit, provides technology-based services to the automotive industry and employs more than 6,000 experts in more than 80 countries.
LONDON, January 9, 2017 – Bain Capital Private Equity, a global private investment firm, announces that it has acquired MSX International (MSXI), a leading global business process outsourcing company.
MSXI provides specialised technology-based services to the automotive industry and employs more than 6,000 experts in more than 80 countries. The company has innovated in the automotive industry for more than a half-century, has a unique competitive position and broad geographic and service capabilities. This has facilitated consistently strong growth and supported its high proportion of recurring revenues from long-term contracts. The trend for automotive companies to outsource more business processes presents significant market opportunity to drive further expansion.
“MSXI’s management team has put the company in an enviable position: it leads its market, has deep industry expertise and customer relationships, and also has substantial growth opportunities both internationally and by acquisition in a highly fragmented market,” said Ivano Sessa, a Managing Director of Bain Capital Private Equity. “We believe that we can complement this top tier management team with our experience of growing global automotive companies, such as Sensata and TI Automotive, and global business process outsourcing companies, such as Genpact, creating a strong partnership for MSXI’s international development.”
“I am delighted that Bain Capital Private Equity will support us in our next stage of expansion and believe that their financial and operational resources will enable us to focus even more on innovation,” said Fred Minturn, President and CEO of MSXI. “Bain Capital have a long history of accelerating the growth of companies that they invest in and have consistently demonstrated a deep understanding of our business, which makes them the ideal partner for us.”
MSXI provides a wide range of services and has three key business divisions: Retail Network Solutions, Managed Service Provider and Technical Staffing Solutions. Retail Network Solutions provides business process outsourcing, consulting and training on behalf of automotive original equipment manufacturers (OEM) to manage OEM dealer networks and drive dealer performance. Managed Service Provider acts as an intermediary between staffing agencies and customers, managing customers’ total non-employee labour with activities including contracting, supplier management, payment services, and advanced analytics; clients realize improved efficiency, increased transparency, and reduced cost. Technical Staffing Solutions recruits and supplies engineers to a large automotive manufacturer in the US and Brazil.