FTV Capital hopes to profit from Colombia’s US outsourcing boom with Lean Staffing Solutions deal

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Colombian Transportation and logistics outsourcing services provider Lean Staffing Solutions has picked up a $42.5m minority growth investment from FTV Capital.

LSS said the investment would help it grow its footprint beyond transportation into industries like finance, healthcare, factoring and insurance.

The company specialises in helping businesses outsource their back and front-offices by providing nearshoring solutions in Colombia.

It said Colombia has emerged as a preferred nearshoring hub for many North American companies given its proximity to the US, particularly those in the freight brokerage and third-party logistics industries.

FTV Capital partner Brad Bernstein said, “Colombia is the fourth largest business process outsourcing market in Latin America with a $2.3bn market size and an annual growth rate of 19% over the last seven years.

“With its outstanding management team, vertical expertise and operational excellence anchored in a customer-centric approach, LSS is well positioned to continue to lead in this market.

“A profitable, high-growth and founder-owned business, LSS is highly representative of the innovative companies which FTV Capital seeks to partner.”

Growth equity firm FTV Capital hit the $1.2bn hard cap for its sixth flagship fund in June, its largest vehicle to date.

The firm held the final close of its fifth fund back in 2016 hitting its $850m hard cap. Its fourth-vintage vehicle secured $700m in 2014.

FTV’s portfolio has spanned enterprise technology and services, financial services, and payments and transaction processing businesses.

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