Alorica Inc., an Irvine-based provider of outsourced call centers with 100,000 employees around the world, announced a $1 billion refinancing package to continue its worldwide expansion.
Cerberus Business Finance led a refinancing that resulted in a $725 million senior secured term loan alongside an upsized $300 million asset-based lending facility provided by a syndicate of banks. Alorica said the refinancing will “optimize” its financial position.
“Having a strong financial partner in Cerberus will help us quicken our growth plan as part of our strategic journey,” Alorica Chief Executive Greg Haller said in a statement.
Since 2020, Alorica said it has organically grown its revenue by 23% and its adjusted profit by more than 50%.
Cerberus Business Finance has closed on more than $50 billion in transactions in the past decade, primarily to borrowers owned by private equity sponsors. It is an investment platform for Cerberus Capital Management LP, which has $60 billion in assets.