About

Alvaria was founded in 1981 and quickly became a leader in the outbound contact center sector as an early pioneer of the Automatic Call Distributor and Predictive Dialer. Over time, the company expanded its offerings and capabilities to include Interactive Voice Response technology, omni-channel customer engagement software, workforce optimization offerings, and reporting and analytics.

Insight & Approach

Over the past several years, Alvaria has undergone a business model transition as its customers have shifted away from the company’s legacy hardware products and toward its software solutions. Despite having industry leading software products,Alvaria’s historical debt load made this transition difficult and the company filed for bankruptcy in 2016 with its lenders assuming control of the business. Vector approached Aspect’s lenders in early 2018 and partnered with them to execute a control buy-out with the existing lenders providing the company with a new credit facility at closing.

Vector Value Add

Vector’s investment provided Alvaria renewed financial stability and allowed the company to refocus on its core software product portfolio and completing its business model transition. In addition, at closing, Vector brought in Patrick Dennis, a Vector Operating Partner, as President and CEO, and Chris DeBiase as Chief Financial Officer. As an Operating Partner, Patrick led the Aspect acquisition process alongside Vector’s investment team, while Chris brings 20 years of enterprise software industry experience including previously serving as CFO of Vector Capital-owned Corel Corporation.

Results

Vector sold its majority stake in Alvaria to ABRY Partners concurrent with the purchase of Noble Systems Corporation in May 2021.