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06 Oct 2016

Everstone partners with Sunrise BPO to buy C3, a global CRM solutions provider

  • Aims to more than double C3 revenues to around US $500 million
  • Everstone and Sunrise to leverage their capabilities to enhance C3’s delivery model

Singapore, October 6, 2016 – Everstone Group, along with Sunrise BPO, has signed a definitive agreement to buy US-based C3 (CustomerContactChannels), a global CRM solutions provider. The investment will be done via Everise Services in Singapore, a company held by Everstone, along with Sunrise BPO as a co-investor.

Founded in 2010, C3 is headquartered in the United States. C3 has expansive operations in the Philippines and Guatemala and has enjoyed a remarkable revenue CAGR of more than 60% over the past six years. The company has a marquee list of more than 20 clients in healthcare, telecommunications & media, consumer internet, logistics, retail, travel & hospitality and financial services. C3 also provides training and consulting in the customer management solutions space, as well as sales, performance optimization, reputation management and complete customer lifecycle management via traditional, web, and emerging communication channels. C3 provides multi-lingual support to clients and has seven operating centers across the U.S., the Philippines and Guatemala, with nearly 8,000 employees. C3’s US headquarters is in Plantation, Florida.

Everise plans to make C3 into a US$500-plus million revenue company in the next five years, from nearly $200 million currently. As part of this strategy, Singapore-based Sunrise BPO Pte. Ltd (Sunrise BPO), will take the leading role in operating the business, in addition to bringing capital. Everstone will be the largest financial investor and it will take the lead in C3’s India operational build-out to grow the company.

The new CEO of C3 will be Sudhir Agarwal, the founder of Sunrise BPO.

This will be Everstone’s third investment through its latest private equity fund, ECP III, which raised US$730 million last year, and the second investment into the ITES-enabled space after it acquired Servion Global Solutions, a leading Customer Engagement Management firm, in 2014.

“We are excited to partner with Sunrise in the acquisition of this marquee business. I look forward to leveraging our deep understanding of the sector and strong presence in India to further build C3’s global business,” Sameer Sain, Co-Founder & Managing Partner of the Everstone Group, said.

Sudhir Agarwal added to the positive assessment. “It’s a privilege to help lead a company like C3 that has made a significant impact on the outsourced CRM solutions space in such a short time.”

“Sunrise BPO not only brings capital, along with our key partner Everstone, but we also bring in the capability to rapidly scale C3’s business in the US and Asia and greatly improve customer experience, working closely with all of C3’s amazingly skilled employees and agents,” Agarwal added.

Everise will acquire 100% of C3. The current President & COO of C3, Rick Ferry, along with C3’s experienced leadership team, will continue as part of the leadership in his new role as CEO-USA.

“The team and I are committed and excited about this move and will work with Everise to grow the business globally,” Ferry said.

Prateek Dhawan, Managing Director – Private Equity, Everstone Group will join the Everise board.

“Taking the C3 platform and enhancing its delivery model using analytics and other technology tools is a huge opportunity,” Dhawan said. “We look forward to growing C3 organically, as well as inorganically.”

About Everstone Group
The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment firm with assets under management of USD $3.3 billion. Headquartered in Singapore, Everstone has around 200 people working across five offices including Mumbai, Delhi, Bengaluru, and Mauritius. The firm’s strong presence and network in India and Southeast Asia allows its existing and new portfolio businesses to build operations in the region and beyond. Everstone has been awarded ‘Private Equity Firm of the Year in India’ by Private Equity International for five consecutive years. For more information, visit www.everstonecapital.com

About Sunrise
Sunrise BPO Pte. Ltd. is a Singapore-based Business Process management (“BPO”) company with the business mission to be the world’s foremost integrated customer service solution provider, focused on the Americas and the Far East markets. It has been set up with the strategic intent to offer its customers a multi-channel and integrated service solution with a focus on Contact Centre, Back Office and analytics delivered through tech-based service oriented products and process capabilities. This will drive cost savings, create value, and enable Innovation for its clients. Sudhir Agarwal is the founder and a co-investor in Sunrise. He has over 17 years’ experience in the BPO industry with Genpact and Aegis. Sunrise is also backed by global HNI investors who are thought leaders of international repute and who are committed to Sunrise’s financial, operational, and strategic vision.

About C3
C3 provides a full range of customer contact management services for corporate clients in the healthcare, financial services, telecommunications, energy and utilities, media, travel, retail, logistics, hospitality, and government services industries, from both US and international locations. C3’s founders are considered pioneers in the industry, having successfully grown global BPO companies over the last several decades. As a result, the company is uniquely positioned to deliver outstanding results for its clients through proven operational best practices and its veteran leadership team. Visit www.c3connect.com