Exela Technologies, Inc. (XELA)

Information Technology

Novitex is an Apollo owned North American provider of tech-driven document services. SourceHOV leader in Transaction Processing Services (TPS) and Enterprise Information Management (EIM). End-to-end solutions for data capture, data aggregation, and analytics. Highly scalable technology platforms hosted on-premise and/or in cloud for wide range of industries including financial services, healthcare, legal, customers from 50+ countries including 60% of Fortune 100. The transaction is valued at $2.8B, representing a 7.3x multiple of 2017 expected EBITDA of $385mm, and will be funded in $1.35B new debt, and cash from Quinpario (publicly traded SPAC, ticker: QPACW). The combined Exela is expected to have $1.5B in FY17 revenue.