Sitel Group’s $2.2 Billion Take-Private of Sykes Enterprises

Freshfields represented Sitel Group on the deal. Shumaker, Loop & Kendrick, LLP acted as legal advisor to Sykes Enterprises.

Sitel Group®, a leading global provider of customer experience (CX) products and solutions, today announced it has entered into a definitive agreement to acquire Sykes Enterprises, Incorporated (“SYKES”) (NASDAQ: SYKE), a leading full life cycle provider of global customer experience management services, multichannel demand generation and digital transformation.

Under the terms of the agreement, a subsidiary of Sitel Group will acquire all outstanding shares of SYKES common stock in an all-cash transaction valued at approximately $2.2 billion. 

The Freshfields corporate/M&A team was led by partner Joseph Halloum from the firm’s Silicon Valley office, together with associates Paul Gray (Picture), Michael David Harris, Thomas Lair and Ross Weiser, as well as New York partner Ethan Klingsberg. Global national security, foreign investment, sanctions and antitrust regulatory matters are spearheaded by the DC-based team of Aimen Mir, Christine Laciak, Meghan Rissmiller and Stephanie Brown Cripps, together with Silicon Valley-based European and UK antitrust experts Alan Ryan and Megan Yeates. The acquisition financing team, out of New York, consists of David Almroth, Chris Milla, Alexander Rich, and Eleni Rawson, as well as Stéphanie Corbiere in Paris. Compensation and benefits partner Maj Vaseghi in Silicon Valley and associate Cristell Fortune, IP/tech transactions partner Mena Kaplan and associates Marissa Yu and Daniel Spencer, cybersecurity and data privacy counsel Brock Dahl and associate Maria Milagros Astesiano, and tax partner Claude Stansbury and associate David Mitchell are all supporting Sitel Group on the project.

Lazard Freres SAS acted as financial advisor to Sitel Group. Committed debt financing has been provided by BNP Paribas to Sitel Group. Goldman Sachs & Co. LLC acted as financial advisor to Sykes Enterprises.

 

Involved fees earner: David Almroth – Freshfields Bruckhaus Deringer LLP; Stephanie Brown Cripps – Freshfields Bruckhaus Deringer LLP; Stéphanie Corbière – Freshfields Bruckhaus Deringer LLP; Brock Dahl – Freshfields Bruckhaus Deringer LLP; Cristell Fortune – Freshfields Bruckhaus Deringer LLP; Paul Gray – Freshfields Bruckhaus Deringer LLP; Joseph Halloum – Freshfields Bruckhaus Deringer LLP; Mena Kaplan – Freshfields Bruckhaus Deringer LLP; Ethan Klingsberg – Freshfields Bruckhaus Deringer LLP; Christine Laciak – Freshfields Bruckhaus Deringer LLP; Thomas Lair – Freshfields Bruckhaus Deringer LLP; Christopher Milla – Freshfields Bruckhaus Deringer LLP; Aimen Mir – Freshfields Bruckhaus Deringer LLP; David Mitchell – Freshfields Bruckhaus Deringer LLP; Alexander Rich – Freshfields Bruckhaus Deringer LLP; Meghan Rissmiller – Freshfields Bruckhaus Deringer LLP; Alan Ryan – Freshfields Bruckhaus Deringer LLP; Daniel Spencer – Freshfields Bruckhaus Deringer LLP; Claude Stansbury – Freshfields Bruckhaus Deringer LLP; Maj Vaseghi – Freshfields Bruckhaus Deringer LLP; Megan Yeates – Freshfields Bruckhaus Deringer LLP; Marissa Yu – Freshfields Bruckhaus Deringer LLP;

Law Firms: Freshfields Bruckhaus Deringer LLP;

Clients: Sitel Group;

Author: Martina Bellini