European private equity house Axa Private Equity has acquired German shopping broadcaster HSE 24, part of Arcandor for an undisclosed sum.
According to the group company liquidator at Arcandor, the sale of the shopping broadcaster will directly save 500 jobs. The acquisition will also enable the company to find solutions to its call centre issue. The future of the Primondo call centres is reliant on the services required by the shopping channel.
Managing director, Stephan M. Illenberger of AXA Private Equity Germany said: “As a strong investor, we are pleased to secure the future of HSE 24. We understand this market, and this acquisition complements our existing portfolio, including Competence Call Centre AG.”
AXA Private Equity manages US$26bn Europe and targets Europe, North America and Asia.