Everstone named ‘Mid-Market Firm of the Year in Asia’ and ‘Firm of the Year in India’ by Private Equity International

Mumbai, March 2, 2017 – The prestigious ‘Private Equity International’ (PEI) magazine has named Everstone Group ‘Mid-Market Firm of the Year in Asia’ for 2016, the first India-focused fund to receive such an honour. It was also named ‘Firm of the Year in India’ for an unprecedented sixth year running.

The PEI Awards are the largest, most respected awards in the global private equity industry. With multiple categories for selection, voters have the chance to vote for the categories across the Americas, EMEA (Europe, the Middle East and Africa) and Asia-Pacific.

The awards come on the back of Everstone significantly stepping up investment in India and Southeast Asia and expanding its international presence to the US through the acquisition of CRM firm C3/CustomerContactChannels, as well as by the opening of an investor relations and business development office in London.

“In the eyes of the private equity industry, there is a clear champion when it comes to investing in India. Singapore-based Everstone Group, which has won this category every year since 2011, has claimed the top spot again,” said PEI in its Annual Review 2016.

The awards follow a rigorous nomination and global voting process that involves investors, peers and other PEI subscribers from the private equity industry.

Sameer Sain, Co-Founder and Managing Partner of the Everstone Group, said: “We are extremely proud to be selected as the best mid-market firm in Asia, as well as the firm of the year in India for the sixth time in a row. The PEI awards recognise our belief in partnerships and their power. This recognition would not have been possible without the amazing work of our employees, as well as the strong and collaborative relationships we have with our investors and portfolio companies.”

Everstone had an eventful 2016 with several control deals across multiple sectors including ITeS, with C3’s acquisition in October. In the healthcare and wellness sector, it acquired in March a majority stake in Ascent Health, a leading pharma delivery services company in India. It also acquired a majority stake in Rubicon Research, an India-based pioneering drug delivery technology company, in October. In the food sector, in April, Everstone completed the buyout of iconic Indian consumer brand Modern Foods. It also successfully exited several positions in Funds 1 and 2, and continued to return capital to LPs.

Continuing its increased investment in India, Everstone invested $35 million in January this year for a significant minority stake in OmniActive Health Technologies, which supplies ingredients to the fastgrowing nutraceuticals sector.

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 $3.3 billion. Everstone has around 200 people working across six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. 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 ‘Mid-Market Firm of the Year in Asia’ for 2016, as well as ‘Private Equity Firm of the Year in India’ by Private Equity International for six consecutive years from 2011 to 2016.

For more information, visit www.everstonecapital.com

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Leading global CRM solutions provider C3 aims to more than double its revenue in next five years

Manila, Thursday, January 19, 2017 – Leading CRM solutions provider C3/CustomerContactChannels will strengthen its operations in the Philippines and globally, fueled by its recent acquisition by private equity investor Everstone Capital and co-investor Sunrise BPO.

C3 says its global revenues are likely to double by 2022 as it expands into new geographies and enters new services lines such as Back Office Processing. It also plans on providing next-gen CRM solutions using Business Intelligence and Artificial Intelligence.

As part of its global growth agenda, the company plans to significantly increase its headcount in the Philippines from 2,800 to around 5,600 in next two years.

Sudhir Agarwal, Global CEO of C3 and founder of Sunrise BPO said: “In the Philippines, we are enjoying a revenue CAGR of over 50% while globally, we have witnessed growth of more than 60% over the past six years. The Philippines is crucial for us, not just in the region but for our global operations as well.

As part of our aggressive growth agenda, C3 is looking to increase its worldwide employee count from 8,500 to over 18,000 in the next five years,” Agarwal added.

Everstone Capital and Sunrise BPO completed the acquisition of C3 from US-based Stone Point Capital in December last year and formed Everise Holdings, based out of Singapore. Everise Holdings controls 100% stake in C3 and Agarwal was named as the Global CEO of C3. On the back of this acquisition, C3 plans to expand to other geographies with the support of Everise.

“We plan to expand operations to eight countries from three currently,” Agarwal said.

Speaking on the acquisition, Atul Kapur, Co-Founder & Managing Partner of Everstone Capital, said: “Everstone is thrilled to support C3 in its goal to become a global CRM powerhouse. C3 has shown robust growth and Everise is ready to grow it organically as well as inorganically in the coming years—both in the Philippines and in other geographies.”

C3 is looking at the possibility of acquisitions in the Philippines and in other markets to support C3’s expansion into new markets and services lines, and Everise will work with its leadership on assessing such opportunities as they arise,” added Kapur.

Speaking on the economic environment in the Philippines Agarwal said, “We are excited to be in the Philippines, which is a key hub for the global BPO industry. We are looking forward to the robust growth of the CRM/BPO industry in this country, which is witnessing impressive economic growth.”

We believe C3 is ideally positioned to capitalize on the global appetite for high-performing customer experience organizations,” Agarwal added.

Kapur, who is the managing partner for the $3.3 billion asset under management Everstone Group, also underscored that the conditions in the Philippines were very conducive for C3’s expansion plans. “Philippines has a stable business environment, impressive human capital, an English speaking workforce, and strong economic growth,” he added.

Beyond the Philippines, C3 also has operating centers in the United States and Guatemala. Its services include sales, service, performance optimization, reputation management and complete customer lifecycle management via traditional, web, and emerging communication channels.

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 provides multi-lingual support to clients and has seven operating centers across the U.S., the Philippines and Guatemala, with approximately 8,500 employees. C3’s US headquarters is in Plantation, Florida. Visit www.c3connect.com

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 US $3.3 billion. Everstone has over 200 people working across six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. 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 from 2011 to 2015.
For more information, visit www.everstonecapital.com

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Everstone Group acquires stake in OmniActive Health Technologies Ltd

Mumbai, January 02, 2017 – The Everstone Group has invested US$ 35 million in Mumbai-based OmniActive Health Technologies Ltd (OmniActive) to further accelerate its growth in the fast-expanding nutraceuticals space. The deal is Everstone’s third in the healthcare and wellness sector in less than a year.

OmniActive is a leading supplier of naturally sourced ingredients for eye health, weight management and heart health to global nutraceutical companies that provide food supplements and nutritional fortification. OmniActive has a research-driven approach, state-of-the-art manufacturing facilities, well-equipped R&D centres across India and Canada, and sales and marketing presence across the US, Europe and Asia.

In the last 18 months, innovation-driven OmniActive completed 12 human clinical trials in healthy populations across its portfolio of branded ingredients. The company has a strong presence in the US and is working to achieve similar success in Europe and Asia. The Everstone investment — which gives it a significant minority stake — will help OmniActive diversify and expand its offerings. OmniActive will use the proceeds from this deal in its inorganic growth strategy and execute the acquisition opportunities it has identified.

Sameer Sain, Co-Founder and Managing Partner, Everstone Group, said: “This investment will help OmniActive scale its already strong presence in the fast-growing nutraceutical space. We are excited about partnering with the Mariwala family and building a world-class global business.” OmniActive was founded in 2005 and has, over the last decade, emerged as the leading nutraceutical ingredient supplier to international markets from India, helped by the gradual shift in the sector towards consumption of natural products.

Sanjaya Mariwala, Managing Director, OmniActive Health Technologies Ltd. said: “We welcome this partnership with the Everstone Group. With the support of its experienced teams and funding, OmniActive looks forward to building on our history of solid organic growth by further strengthening our presence globally using innovative products and technologies.

This will be done by also growing inorganically to bring a wider product portfolio of responsibly made ingredients to our customers through our strategic acquisitions,” Mariwala added.

The global nutraceuticals supplements market was estimated at US $108 billion in 2014 and is expected to touch US $168 billion by 2020. The US is the largest market, accounting for slightly more than one-third of global sales. In India, according to a study published by ASSOCHAM, the nutraceuticals industry is expected to reach US $6.1 billion by 2020. The growth in India will be fuelled by rising awareness about lifestyle diseases and the need for healthier lifestyles; the spread of urbanisation; an increasing middle-class population with a higher disposable income; and the rising demand for supplementary nutrition for a healthier life.

Avendus Capital was advising OmniActive on this deal as the investment banker.

The OmniActive investment will be Everstone’s fifth from its third PE fund (Everstone Capital Partners III) that closed in September 2015, and the third in the pharmaceutical and wellness sector. It acquired a majority stake in Rubicon Research, a pioneering drug delivery technology company, in October 2016, which was preceded by Everstone taking a majority stake in Ascent Health, an Indian pharmaceutical delivery services provider, in March 2016.

Everstone will be represented by Deep Mishra, Managing Director, who will join OmniActive’s board as a nominee director, along with Dr Leendert Staal, an internationally reputed nutraceutical expert who was the CEO of the global industry leader DSM Nutritional Products from 2008 to 2013.

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 US $3.3 billion. Everstone has over 200 people working across six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. 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 from 2011 to 2015.
For more information, visit www.everstonecapital.com

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About OmniActive Health Technologies Ltd.
OmniActive Health Technologies (www.omniactives.com) offers a range of quality ingredients, that are innovative and scientifically validated to address complex challenges for customers in the dietary supplement, food and beverage space using technology-driven, sustainable solutions with application support within a global regulatory framework. OmniActive’s core products include carotenoids, plant extracts and specialty functional ingredients. The company develops IP-protected, science-backed branded ingredients from natural sources using cutting edge technologies. OmniActive leverages international R&D strengths to deploy an array of state of the art manufacturing technologies in extraction, purification, isolation and delivery of nutritional actives. Clinical research–geared towards demonstrating efficacy and claim substantiation–is the cornerstone of OmniActive’s R&D activities. The company’s centers of excellence are located in North America and India, whereas its cGMP and HACCP system-compliant manufacturing operations are located at multiple FDA inspected sites in India. Whether looking for a new ingredient to add to a finished product, or technology to enhance an existing ingredient, OmniActive delivers unmatched innovation.
For more information, visit http://omniactives.com/

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Everstone Group partner P M Devaiah enters General Counsel Legal Powerlist

Mumbai, December 07, 2016 – P M Devaiah, Partner and General Counsel, Everstone Group, has been selected to The Legal 500 GC Powerlist for India, the only person from a private equity firm to make the prestigious honour roll of legal experts, Everstone announced today.

The Legal 500 GC Powerlist for India 2016 is the inaugural one for the country and recognises corporate General Counsels for their outstanding work. The GC Powerlist series from The Legal 500 (based in London) highlights the most influential in-house lawyers in business. The series has covered regions and countries including the UK, the US, France, Italy, Switzerland, Germany, the Middle East, and the Nordics.

Devaiah has more than 25 years of corporate and legal experience, having worked at some of India’s largest and most successful companies, including Tata Projects, Hindustan Unilever, BPL Group, Carlyle Group, and ICICI Venture.

He joined the Everstone Group in 2007, and several key features of his tenure include transforming its legal department into an ‘in-house law firm’, training his team to be ‘completely business like’, and positioning the unit to become a strategic and integral part of the company to deliver high-quality services, as well as add-value to business teams. Devaiah holds a Bachelor of Commerce degree and a Master of Law degree from the University of Mysore.

Congratulating Devaiah on this achievement, Sameer Sain, Co-Founder & Managing Partner of the Everstone Group, said: “We are extremely proud of Devaiah for not only being selected to this prestigious list but also for being the sole representative from the private equity sector.

This honour rightly recognizes the great work he has done in helping make the Everstone Group a successful organization with the highest standards of corporate governance and ethics,” Sain added.

For his part, Devaiah said: “It’s an honour to be included in The Legal 500 GC Powerlist. The role of General Counsel has changed significantly in recent years. General Counsels are no longer limited to a reactive role but instead are key members of the corporate decision-making team, as is the case in Everstone.”

The Legal 500 finds the “best of the best” by canvassing opinions from law firm partners and in-house counsel across India, to identify corporate counsel that have been instrumental in changing or forming opinions within their company or industry.

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. Everstone has around 200 people working in six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. 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 from 2011 to 2015.

For more information, visit www.everstonecapital.com

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Investors put $1.3 bn in enterprise tech & $11 bn in consumer products

Two old investor favourites — consumer products and enterprise technology — are expected to emerge as sectors of choice for venture capital and private equity in 2017, as they seek to back safe sectors that can assure them good returns.

Read more at: http://economictimes.indiatimes.com/small-biz/money/investors-put-1-3-bn-in-enterprise-tech-11-bn-in-consumer-products/articleshow/55846173.cms

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Investors push for platform deals

Investors in the private equity (PE) space — from the big Canadian pension funds to home grown funds such as Everstone or IDFC Alternatives — are opting to buy or build platforms to have more say on the outcome of their investments. And, as buyouts rise, platforms are gaining ground.

Read more at: http://www.business-standard.com/article/specials/investors-push-for-platform-deals-116111700060_1.html

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Everstone acquires majority stake in Rubicon Research

Mumbai, October 24, 2016– The Everstone Group has bought a 70% stake in Mumbai-based Rubicon Research Pvt. Ltd., a pioneering drug delivery technology company in India, for a total outlay of Rs 220 crore (US$ 33 million).

Along with a US$ 20 million investment directly into the business, the deal includes acquiring stakes from Kotak Private Equity and a private investor.

Rubicon is a world-class outsourcing partner to the global pharmaceutical industry and its proprietary technologies provide solutions for bioavailability enhancement, gastric retention, taste masking, and customising the release profiles of drugs. Rubicon also offers lifecycle management services for pharmaceutical products.

Rubicon also has a US FDA-approved manufacturing plant at Ambernath in Maharashtra, with a capacity of 800 million tablets and it has refocused its business on creating its own Abbreviated New Drug Applications (ANDAs)/New Drug Applications (NDAs) for the global market.

“Rubicon has an excellent record of providing cutting-edge solutions to the healthcare and pharmaceutical industry,” said Sameer Sain, Co-Founder and Managing Partner of the Everstone Group. “We are excited about enhancing its capabilities,” Sameer added.

Rubicon Founder and CEO Dr. Pratibha Pilgaonkar said: “We welcome this partnership with Everstone and believe, with their deep managerial and operational expertise, capital infusion, and global connectivity, we will be able to significantly accelerate our growth.”

This investment will be fourth investment from Everstone’s latest PE fund (Everstone Capital Partners III) and was led by Deep Mishra, an Everstone MD who focuses on consumer and pharmaceutical investments for the Group. Deep will be joining the board of directors of Rubicon.

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—Singapore, Mumbai, Delhi, Bengaluru, and Mauritius. 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 Rubicon
Rubicon Research is a pioneer Drug Delivery Technology company in India and is recognized as a world class outsourcing partner in pharmaceutical industry. Rubicon’s proprietary technologies provide solutions for bioavailability enhancement, gastric retention, taste masking, and customising the release profiles. Rubicon has a US FDA-approved manufacturing plant and is bringing complex generics into the regulated markets of US and Europe.

For more information, visit http://www.rubicon.co.in/

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