8-K
filed September 25, 2023, 7:59 PM ET
ticker CNXC
CIK 0001803599
M&A
confidence high
sentiment positive
materiality 0.80
Concentrix Corp (CNXC): M&A transaction — Concentrix closes $4B Webhelp acquisition, issues ~14.9M shares and €700M seller note
Concentrix Corp
- Transaction valued at ~$4B including net debt; Concentrix paid €488.7M cash, ~14.9M shares, plus up to 750K earnout shares.
- Combined co. operates as Concentrix + Webhelp; pre-deal Concentrix shareholders hold 77.6%, Webhelp sellers hold 22.4%.
- Olivier Duha (Webhelp co-founder/former CEO) and Nicolas Gheysens (GBL partner) appointed to Board; Duha named Vice Chair.
- Issued €700M seller promissory note at 2% interest due Sept 2025; funded deal with $2.15B senior notes and ~$294.7M term loan.
- Repaid ~€1.8B of Webhelp existing debt using proceeds from financing and cash on hand.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Concentrix Corp incurred loan of €700,000,000 with certain Sellers at two percent (2%) per annum maturing September 25, 2025.
- Instrument
- loan
- Principal
- €700,000,000
- Counterparty
- certain Sellers
- Rate
- two percent (2%) per annum
- Maturity
- September 25, 2025
- Event
- incurrence
Exact text from the filing
Concentrix issued a promissory note in the aggregate principal amount of €700,000,000 (the “Sellers’ Note”) to certain Sellers (each, a “Noteholder”).
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Olivier Duha was appointed as Director at Concentrix Corp.
- Action
- appointed
- Role
- Director
Exact text from the filing
Effective as of the closing of the Transaction, on September 25, 2023, Olivier Duha and Nicolas Gheysens were appointed as members of the Company’s Board of Directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Nicolas Gheysens was appointed as Director at Concentrix Corp.
- Action
- appointed
- Role
- Director
Exact text from the filing
Effective as of the closing of the Transaction, on September 25, 2023, Olivier Duha and Nicolas Gheysens were appointed as members of the Company’s Board of Directors
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.99
Concentrix Corp completed an acquisition involving Sellers (holders of shares of Marnix Lux SA) for approximately €488.7 million in cash (the "Closing Cash Payment") and the Sellers' Note (as defined and described below) (the Sellers' Note together with the Cl (closed 2023-09-25).
- Action
- acquisition
- Counterparty
- Sellers (holders of shares of Marnix Lux SA)
- Consideration
- approximately €488.7 million in cash (the "Closing Cash Payment") and the Sellers' Note (as defined and described below) (the Sellers' Note together with the Cl
- Closing
- 2023-09-25
Exact text from the filing
on the Closing Date, except as otherwise set forth in the SPA, (i) Purchaser purchased certain of the Sellers’ Shares (the “Acquired Shares”) in exchange for approximately €488.7 million in cash (the “Closing Cash Payment”) and the Sellers’ Note (as defined and described below) (the Sellers’ Note together with the Closing Cash Payment, the “Cash Purchase Price”);
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Concentrix Corp entered into Sellers' Note with certain Sellers valued at €700,000,000 (effective 2023-09-25).
- Action
- entry
- Counterparty
- certain Sellers
- Value
- €700,000,000
- Effective
- 2023-09-25
Exact text from the filing
On the Closing Date and as part of the consideration for the Transaction, Concentrix issued a promissory note in the aggregate principal amount of €700,000,000 (the “Sellers’ Note”) to certain Sellers
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.