The private equity fund advised by Elbrus Capital has acquired Intercomp, the largest financial and HR business process outsourcing provider in Russia and the CIS.
Having led the way in financial and HR outsourcing in Russia since it was founded in 1994, Intercomp today is the leader in its segment in terms of size and quality of services. Intercomp employs more than 600 professionals and has a portfolio of over 700 clients, including major international and regional companies representing dozens of various industries.
“This transition to a new stage of development became possible as a result of the company’s stable and continuous growth,” said Intercomp’s CEO Sergey Buchin. “In the last year alone, we have implemented a whole range of major initiatives: we opened a branch in Nizhny Novgorod, introduced new services for the government sector, and rebranded the company. I am delighted that we have found a reliable business partner in Elbrus Capital: a partner with whom we can boldly move into the future. We are confident that profitability and stability, as well as focus on growth and expansion, will prove to be the major features of our development.”
“Business optimization and focus on efficiency are essential to success in any business,” said Managing Partner of Elbrus Capital Alexander Savin, commenting on the deal. “We expect the outsourcing industry to grow substantially in the near future. The increased outsourcing of ancillary business processes in both the commercial and government sectors will help companies and the government alike, to reach their goals in changing market conditions. We see Intercomp as the industry leader, and will fully support its management team in implementing its further growth strategy.”
About Elbrus Capital
Elbrus Capital is a leading private equity business in Russia and the CIS. Elbrus Capital advises private equity funds which have led over 70 acquisitions since 2007. The funds’ total assets under management exceed $1 billion. Key investors in the funds are large international institutional investors and international development institutions.
Ilya Novokhatsky, DNA Communications (Elbrus Capital’s public relations representative)
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