Abraaj exits majority stake in Egyptian outsourcing firm ECCO

The Abraaj Group, through one of its funds, has sold its stake  in ECCO Outsourcing, a business process outsourcing and contact center outsourcing business headquartered in Cairo. The acquirer, Saham Services, is a subsidiary of Abraaj Capital portfolio holding Saham Group.  Terms of the deal were not disclosed.

Founded in 2002, ECCO Outsourcing has established itself as one of Egypt’s leading outsourcing companies, employing 3,000 employees in operations in Egypt and Qatar.  It provides services to a number of blue chip organizations across a number of industry verticals.

Abraaj acquired a majority stake in ECCO outsourcing in 2013, and since then has helped the firm grow by expanding both its client base and its portfolio of services, developing new outsourcing sites and increasing it employee headcount by 20%, as well as improving its corporate governance framework.

According to Saham Group’s website, Abraaj Capital invested $125 million in the company for an 18.8% stake in 2012.

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