India’s Premi Invest has invested in Essor, a company formed through a merger of Branded and Heyday, while EQT is reportedly acquiring BPO firm GeBBS.
Premji Invest backs new digital platform Essor
Indian investment firm Premji Invest has backed Essor, a digital consumer products platform created following the merger of former Lazada CEO’s startup Heyday and digital consumer products platform Branded.
The new equity investment was also supported by The Raine Group, Target Global, Declaration Partners, C4 Ventures, and Khosla Ventures. Essor also secured a new credit facility from BlackRock & Victory Park Capital Advisors, per the announcement.
Branded agreed to acquire Heyday, founded by Pierre Poignant, former CEO and co-founder of e-commerce major Lazada. Financial details of the acquisition were not disclosed.
With over $400 million in annual revenue and growing profitability, Essor will manage a portfolio of fast-growing health, wellness, and lifestyle brands like Boka, Puracy, and Viking Revolution.
These brands are sold globally through digital marketplaces, direct-to-consumer channels, and major retailers such as Target and Walmart.
Essor will be led by Poignant, co-founder & CEO of Branded, who will serve as CEO. Sebastian Rymarz, co-founder & CEO of Heyday, will take on the role of president while Ben Kaminski, co-founder & chairman of Branded, will serve as chairman.
EQT to acquire BPO firm GeBBS
Swedish investment house EQT is said to be acquiring GeBBs Healthcare Solutions, a healthcare business process outsourcing (BPO) company, the Economic Times reported.
EQT has offered $879 million for a 100% stake in the BPO firm, the report added, quoting sources. GeBBS is owned by the PE firm ChrysCapital.
GeBBS, founded in 2005 by Vijay Singh, specialises in revenue cycle management (RCM) solutions and employs 14,000 staff across 16 delivery centers globally.
In the healthcare BPO space, GeBBS competes with industry giants like Wipro, IBM, Cognizant, and Accenture.
In July, EQT said it would launch its next Asia buyout fund as its current Asia vehicle is around 70% invested. While EQT did not divulge a target size for BPEA IX, its predecessor, BPEA VIII, had raised over $11 billion in 2022.
