Friday, April 4, 2014

BancTec Acquired By Private Equity Investor

Dallas-based BancTec, which provides business process outsourcing services for financial, back-office processes, has been acquired by private equity investors and buyout fund HandsOn3. HandsOn3 said it will combine BancTec with its existing portfolio firm, Dataforce Group. Financial terms of the deal were not disclosed. HandsOn3 said the new, combined company will have more than 4,000 employees and annual revenues in excess of $280M. BancTec was advised by Greenhill & Co. in the deal.