CVCI invests in portfolio of HOV Services

Citi Venture Capital International (CVCI Private Equity) is investing in the SourceHOV, a leading provider of business process outsourcing (BPO) and Knowledge Process Outsourcing (KPO) solutions as a new equity partner with HOVS LLC (HandsOn). The transaction contemplates that CVCI Private Equity will purchase all of the ownership interests of affiliates of Apollo Global Management, LLC (Apollo) and certain minority holders’ in SourceHOV. Credit Suisse served as financial advisor to Apollo in connection with the transaction. Terms are not disclosed.

The new HandsOn and CVCI Private Equity partnership positions the Company for accelerated growth through industry leading advisory formed by a tenured investment team with specialized technology and service industry experience.

HOV Services commenced its operations as a software services company on January 10, 1989. The company’s BPO service includes Transaction Management, Risk Management, Content Management and Construction Services.