The main owners of Nashville-based call center operator Sitel are reportedly in talks with Goldman Sachs bankers about selling the company for as much as $1 billion. Greg Roumeliotis at Reuters writes that officials at Canada-based Onex Corp. are in talks about an auction but that both they and Sitel officials could not be reached for comment. Onex has been the majority owner of Sitel since 2007.
Reuters' report comes less than a week after Sitel CEO Bert Quintana and his team reported fourth-quarter EBITDA that was the highest since 2009. During their conference call with analysts, Sitel CFO Patrick Tolbert responded to a question about the prospects for consolidation in the industry by saying that, "given our balance sheet," Sitel will not be a buyer but instead continue to focus on managing costs and bringing in new business. The company posted a 2014 operating profit of $49.3 million and adjusted EBITDA of $118 million on revenues of $1.44 billion.
Call center manager Sitel has told New York officials it plans to lay off 278 of the roughly 500 workers at its facility in Painted Post, near Corning, after a client contract expired. Nashville-based Sitel set up shop in Painted Post in 2008, when it took over a former Corning Inc. testing space.
Locally based call center manager Sitel has been hired by Frontier Airlines to take over reservation phone calls from 140 workers. The move is part of Frontier's cost-cutting push. The airline last week also said it will cut a flight from Nashville to New Jersey.
Global call center operator Sitel is building its second facility in Bulgaria, which will house 100 people by the end of next year. The call center in Varna is scheduled to open in February and house German-speaking workers to help with customer service for a telecom client.
Nashville-based telemarketing and outsourcing company Sitel has announced plans to add more than 125 new employees at its Oak Ridge facility.
The hiring effort comes as Sitel announced in May it is expanding its inbound call center in Delaware and adding 100 new positions (read here).
Sitel has 56,000 employees in more than 100 global call centers. Read more here about the company's Oak Ridge plans.
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