DQ estimates

H-Cube, formed in January by private equity investment firm GTRC Golder Rauner in association with ex- American Capital Strategies (ACS) EVP Henry Hortenstine, acquired a majority stake in Zenta during the year, though previous owner Intrepid Capital Partners retained substantial stakes.

Operating in Wayne, Pennsylvania and Mumbai, Zenta, with more than 3,000 people, represented H-Cube's first acquisition. Subsequently, ACS financed a further $28.5 mn; the story does not end here as GTCR plans to further invest up to $100 mn in equity capital to ramp up Zenta operations.

Thanks to the strong commitment of its partner NCO Group, Zenta has outscored other older specialist collection service providers Naturally, Zenta looked at ramping up rapidly by hiring more than 2,500 to nearly double its headcount in the coming year. Even inorganic growth was on the cards as the company came close to making a couple of acquisitions.