PRGX Global, Inc.
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PRGX Global, Inc. - overview
Established
1970
Location
Atlanta, GA, US
Primary Industry
Business Support Services
About
Based in the US, PRGX Global, Inc. provides technology-driven recovery services that help organizations optimize their financial health through supplier collaboration and sophisticated data intelligence solutions. PRGX Global, Inc. specializes in offering technology-enabled recovery services.
Founded in 1970 and headquartered in Atlanta, US, the company has undergone a strategic pivot, shifting towards a more technology-focused approach. The company has completed 5 deals, with the most recent deal occurring on December 24, 2020, when Ardian acquired PRGX Global in a Public to Private transaction for USD 195 mn. The company’s leadership is currently under the direction of CEOs Brian Schultz and Paula Green. PRGX has raised a total of USD 195 mn through its funding rounds.
PRGX specializes in tech-enabled recovery services that enhance business health through effective supplier collaboration and data intelligence solutions. Their core offerings include AP Profit Recovery, Contract Management, Retail Merchandise Profit Recovery, and various data solutions. The AP Profit Recovery service focuses on identifying and recouping lost profits through advanced technology, while the Contract Management services enhance procurement efficiency and compliance. PRGX's clientele includes 75% of the Global 2000 across industries such as retail, pharmaceuticals, heavy manufacturing, and telecommunications, with services utilized primarily in North America, Europe, and Asia Pacific.
In the most recent financial year, PRGX reported a revenue of USD 169. 76 mn and an EBITDA of USD 2. 29 mn. Revenue generation is driven by subscription-based models and service partnerships, with the flagship AP Profit Recovery service typically operating under a revenue-sharing or contingency fee structure, ensuring ongoing relationships with clients to maximize efficiencies and profitability.
Following the acquisition by Ardian, which was completed in March 2021, PRGX is set to enhance its core market capabilities and accelerate the development of its proprietary platform, the Verigon Solution Suite. Plans include launching new advanced analytics solutions and expanding into new geographic regions. Ardian's investment aims to support these initiatives, focusing on the enhancement of strategic revenue streams and the overall growth of the company. The deal, concluded in December 2020, is expected to significantly impact PRGX's future growth trajectory.
Current Investors
Ardian
Primary Industry
Business Support Services
Sub Industries
Business Support Services, Financial Services, IT Security/Cybersecurity, Monitoring & Security Software, Analytics & Performance Software, Accounting/Finance Software, Information Services
Website
www.prgx.com
Verticals
Big Data, Big Data, Research (Non-Medical)
Company Stage
Mature
Total Amount Raised
Subscriber access only
PRGX Global, Inc. - financials
| Fiscal Year Ended | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 24, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 184,081,000 | 203,117,000 | 208,503,000 | 195,216,000 | 164,192,000 | 138,302,000 | 140,844,000 | 161,620,000 | - | - | - |
| % Revenue Growth (YoY) | - | 10.3% | 2.7% | (6.4%) | (15.9%) | (15.8%) | 1.8% | 14.8% | - | - | - |
| EBITDA (USD) | 18,268,000 | 16,721,000 | 21,769,000 | 15,900,000 | 7,549,000 | 12,904,000 | 10,220,000 | 14,995,000 | - | - | - |
| Operating Income (USD) | 7,821,000 | 6,141,000 | 7,278,000 | 2,479,000 | (2,302,000) | 5,074,000 | 3,281,000 | 6,707,000 | - | - | - |
| Operating Margin | 4.2% | 3.0% | 3.5% | 1.3% | (1.4%) | 3.7% | 2.3% | 4.1% | - | - | - |
| % EBITDA Margin | 9.9% | 8.2% | 10.4% | 8.1% | 4.6% | 9.3% | 7.3% | 9.3% | - | - | - |
| NET Income (USD) | 3,253,000 | 2,816,000 | 5,392,000 | (186,000) | (7,526,000) | (3,226,000) | 905,000 | 3,184,000 | - | - | - |
| % Net Margin | 1.8% | 1.4% | 2.6% | (0.1%) | (4.6%) | (2.3%) | 0.6% | 2.0% | - | - | - |
PRGX Global, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Public to Private | Completed | PRGX Global, Inc. | - | ||||||||
| Unspecified Exit | Completed | PRGX Global, Inc. | - | ||||||||
| Trade Sale | Completed | Johnsson Group | - | ||||||||
| Buyout | Completed | PRGX Global, Inc. | - | ||||||||
| IPO | Completed | PRGX Global, Inc. | - |
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