Hero Group acquires Scotland's Telecom Service Centres
Scotland's largest call centre company, Telecom Service Centres, which employs around 3000 people, has been sold to Indian Hero group in a deal valuing the business at about GBP 40 mn.
By Sudeshna Sen, ET Online |
Scotland's largest call centre company, Telecom Service Centres, which employs around 3000 people, has been sold to Indian Hero group in a deal valuing the business at about GBP 40 mn.
This is yet another deal by Indian ITES companies moving back into mainland UK, makes UK's third big Indian-owned call centre, after HCL and First Source which employs thousands. This is in addition to TCS large-scale operations in Peterboro.
This is in keeping with the trend of Indian ITES companies getting around the "UK only" call centre syndrome that many UK–based clients have started to insist on recently. The company will be renamed TSC Hero, and will be merged with Gurgaon-based Hero ITES. Ken Hills, TSC's chief executive, rushed to assure the media that this is not about taking jobs to India. "This is not about taking UK jobs to India. In the last three years we have created 1,500 jobs in the UK and the growth rate will probably continue," he said.
Mr Hills said that TSC's clients have all made 'positive' decisions to locate their operations in the UK despite higher costs – while searching for additional services which complement existing arrangements. TSC's clients include Vodafone, T-mobile, Hewlett-Packard and HSBC.
TSC was established at Rothesay, on the Isle of Bute, in 1994 and had management buy-in backed by LDC, the venture capital arm of Lloyds TSB, in 2003. The management will retain their interest and there will be no change in the management. The company made pre-tax profits of nearly £3m last year, up from £2.5m in 2005, while turnover expanded from £43.5mn to just under £50mn.
This is yet another deal by Indian ITES companies moving back into mainland UK, makes UK's third big Indian-owned call centre, after HCL and First Source which employs thousands. This is in addition to TCS large-scale operations in Peterboro.
This is in keeping with the trend of Indian ITES companies getting around the "UK only" call centre syndrome that many UK–based clients have started to insist on recently. The company will be renamed TSC Hero, and will be merged with Gurgaon-based Hero ITES. Ken Hills, TSC's chief executive, rushed to assure the media that this is not about taking jobs to India. "This is not about taking UK jobs to India. In the last three years we have created 1,500 jobs in the UK and the growth rate will probably continue," he said.
Mr Hills said that TSC's clients have all made 'positive' decisions to locate their operations in the UK despite higher costs – while searching for additional services which complement existing arrangements. TSC's clients include Vodafone, T-mobile, Hewlett-Packard and HSBC.
TSC was established at Rothesay, on the Isle of Bute, in 1994 and had management buy-in backed by LDC, the venture capital arm of Lloyds TSB, in 2003. The management will retain their interest and there will be no change in the management. The company made pre-tax profits of nearly £3m last year, up from £2.5m in 2005, while turnover expanded from £43.5mn to just under £50mn.
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