Modern gets modern

ET Brand Equity writes on how ‘Modern gets modern’ and Rajev Shukla, Managing Director, Everstone Capital Asia and director on the board of Modern Food and Aseem Soni, CEO and board member, Modern Food share their perspective…

Read more at: http://brandequity.economictimes.indiatimes.com/news/marketing/modern-gets-modern/59652575

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Rising to the occasion

Deep Mishra, Managing Director, Everstone Group and Aseem Soni, CEO, Modern Food Enterprises Pvt. Ltd., are featured in a column in the Asian Venture Capital Journal (AVCJ) that talks about Modern Foods’ history and rebranding and Everstone’s role in the firm.

Read more at: http://www.everstonecapital.com/assets/articles/avcj-modern-story.pdf

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Modern Food Enterprises Relaunches Iconic Brand with Enhanced Portfolio of Health-Focused Products

Mumbai, June 23, 2017 : Modern Food Enterprises Pvt. Ltd. (MFEL) has announced a comprehensive relaunch of its iconic Modern brand, with new brand positioning; new brand identity; fresh, vibrant and contemporary packaging; and an enhanced portfolio of superior and healthier products.

The new Modern brand has been carefully crafted to strengthen its appeal to multiple consumer segments, at every life stage, for every meal occasion, through a range of products that are smarter choices for consumers seeking healthier, nutritious and tastier options.

The revamped new logo refreshes the iconic Modern wordmark, making it more vibrant and energetic, lending a sense of positivity, smartness, versatility and imagination to the re-launched brand. The packaging builds on the iconic elements of the Modern brand—the signature checkered patterns and stripes—and transforms them into a vibrant new look that manifests Modern’s new philosophy of ‘Thrive, and savour life to the fullest.’

In the Mumbai-Thane region, Modern currently has an estimated overall 15% market share, which the company is looking to increase to over 20% during the course of the next two quarters.

Modern Food sees significant potential in the health and wellness breads category. The Mumbai-Thane region is one of the two most evolved markets in India, along with Delhi. Within Mumbai, the Health & Wellness sub-category accounts for 25% of the overall bread sales. As a leading industry player, Modern will spearhead the development of this segment in the Mumbai-Thane region and across India, making more healthy, nutritious and tasty choices available to consumers.

Aseem Soni, Chief Executive Officer & Board Member, Modern Food, said, “In the Mumbai-Thane market alone, we are looking at 25% overall growth and this will be driven by a 30% growth in the health and wellness range alone.
“We have made a conscious decision to focus on the health and wellness segment during the relaunch phase. The team at Modern Food has worked hard on creating an advanced portfolio of superior products, keeping in mind the evolving taste of consumers and their changing lifestyles that demand healthy, nutritious and tasty food choices. In terms of overall business perspective, we are looking at a 25% increase in revenue by FY18, and at a goal to grow revenue four-fold by FY2021 to Rs 1,000 crore.”

In this context, we plan to strengthen our presence in the states where we are already present, especially Maharashtra, Kerala, Tamil Nadu, Telangana, Karnataka and West Bengal; and expand our presence in white spaces in the North and West. In Mumbai-Thane region specifically, we are planning to widen our reach by significantly increasing distribution.” added Soni.
Speaking further, Soni said that though Modern is well known in Maharashtra as a bread and bakery brand, he expected the brand’s distribution to go up by over 50% within Mumbai.

Modern, named the Most Trusted Bread Brand in India last year, has a legacy of over five decades in the country and is the pioneer of the organized bread sector in India.

Everstone Group, a leading Southeast Asia and India focused private equity investor with approximately US $4 billion assets under management acquired Modern Food from Hindustan Unilever Ltd. on 1st April, 2016, and Modern’s relaunch has been crafted with intensive efforts over the last 12 months, with significant investments in manufacturing, as well as R&D at Modern’s new innovation hub in Chennai, coupled with thorough efforts on consumer insights, strategy and design.

The new portfolio features products such as Milk Plus bread enriched with calcium; Hi-Fibre Brown bread reinforced with premium wheat fibre; 100% whole-wheat bread; and new innovations such as Multigrain Superseed Bread which not only has superseed sprinkles on top but even the flour is made of seven grains and contains Omega 3. All these products will be now available in Mumbai-Thane, giving the state’s consumers a greater variety of tasty and healthier eating and snacking options for every meal and snack occasion.

With the backing of Everstone Group, the 25% overall revenue growth in Modern in the current fiscal year will be significantly driven by volume growth of more than 20% in the health and wellness segment.

Rajev Shukla, Managing Director, Everstone Capital Advisors, Mumbai, and a Director on the Board of Modern Food, said, “At Everstone Capital, we believe in strong partnerships and building great brands. Modern is an iconic brand, the first brand to launch packaged bread in Mumbai in 1968 and was the first to launch the iconic fruity bread in 1968 and the first ever brown bread. It has been a pleasure for me to work with the Modern Team in crafting the renovated mix. We have received an excellent response in the last few weeks since our relaunch in southern India and Kolkata. Consumers love the renewed Modern, reflecting in bread volume uplifts of more than 5% in the aggregate (vs. incoming sales rate) across markets where the relaunch has been rolled out.

Our health and wellness segment is also expanding steadily. In the last 45 days,since the launch of our new bouquet of products, the health and wellness range is growing at double the normal value growth for the overall portfolio. We are confident of accelerating this success in a crucial region like Mumbai-Thane,” Shukla added.

Everstone will continue to make key investments in Modern to expand its market and build the brand, improve quality, innovate and expand the range, as well as enter new markets and categories.

About Modern Food Enterprises Pvt. Ltd
Established in 1965 by the Government of India, Modern was the first branded bread in India. In the following decades, Modern became one of India’s best recognized brands with a full range of white, sweet, health and wellness breads, as well as value-added bakery products such as rusks, cakes, muffins, buns, pavs and cream rolls. Modern Food’s bread and bakery products are manufactured and marketed nationally through a network of over 40 manufacturing plants and around 80,000 outlets. In its new avatar, Modern wants its customers to ‘Thrive, and savour life to the fullest’ by helping them make smarter choices from its expanded range of healthy, nutritious and tasty bread and bakery products.

Visit www.modernfoods.co.in for more information.

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 approximately US $4 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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Everstone Group increases investment in Servion Global

Mumbai, May 25, 2017 – The Everstone Group has increased its investment in leading Customer Experience Management (CEM) solutions provider Servion Global Solutions to around $74 million, on the back of its portfolio firm posting strong revenue growth and witnessing a significant jump in profitability.

Everstone and Solmark, an equity fund started by technology entrepreneurs, had initially acquired a controlling stake in Servion in November 2014 through Evertech Pte Ltd, Everstone Group’s technology investing platform.

The latest round also includes investments by a large part of Servion’s management team and the founders on the back of new customer wins and strong revenue and EBITDA growth.
Servion Global Solutions CEO Sameet Gupte said, “We aim to double our revenue in the next three years organically and are also keen to bolster our offerings by exploring strategic acquisitions in line with our vision.”

Servion’s latest revenue was US $75 million.

“The additional investment from Everstone endorses the confidence in the Servion growth story and we are excited to utilize the new capital to further scale-up our hiring and growth in markets across the US, UK, Asia and the Middle East,” Gupte said.

Our vision is to be a leader in the Customer Experience Management (CEM) space enabling enterprises to convert their customer touch points into long-lasting journeys and optimize the costs of their customer interaction channels. New customer wins and recognition from industry analysts is validating our vision, approach and focus,” added Gupte.

Fuelling Servion’s growth ambitions globally are major deals won by it recently. These include a contract with one of the largest US wholesale retailers to provide Omnichannel solutions, including its flagship ServIntuit platform, for customer analytics. It also includes delivering a cloud-based customer experience solution for a major telecom provider in Asia; winning a contract to improve the OmniChannel platform of a UK government agency; and providing an AI (Artificial Intelligence) powered virtual customer assistant solution for a leading retail bank in the Middle East.

Prateek Dhawan, Everstone MD and board member of Servion, said, “We’re excited about where Servion is headed as it adds more marquee clients, expands rapidly, adds new technology platforms to help its clients engage their customers more efficiently, and strengthens its talent pool.

We will continue to partner strongly with Servion to help it realise its global goals,” added Dhawan.

Servion has been recently recognized by Ovum, a market-leading research and consulting firm, in its On the Radar report for having “assembled a robust set of technologies rooted in the contact
center, but (which) can integrate with customer touchpoints and across the enterprise to help clients create a seamless customer journey and enterprise workflow”.

Servion also recently introduced ServCloud, its multichannel contact center-as-a-service solution with advanced reporting and predictive analytics, in the US market.

About Servion
Servion enables business transformation for enterprises in the area of customer experience management (CEM). Over the past two decades, Servion has evolved from being a single channel (voice) interaction expert to being an industry pioneer in omnichannel customer experience. Servion manages over 10 billion customer interactions annually across 60 countries, in six
continents. Servion’s CX experts based in the US, UK, UAE, Singapore, and India deliver measurable outcomes through consulting, advanced technologies and industry-specific IP platforms. For more information on Servion Global Solutions, please visit: www.servion.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 approximately US $4 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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Everstone Group Co-Founder and Managing Partner Sameer Sain talks on the Big Deal show in an exclusive interview on CNBC TV18

Everstone Group Co-Founder and Managing Partner Sameer Sain talks on the Big Deal show in an exclusive interview on CNBC TV18.

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Canada Pension Plan Investment Board and IndoSpace Form Joint Venture ‘IndoSpace Core’

Key Highlights:

  • Canada Pension Plan Investment Board (CPPIB) and IndoSpace form IndoSpace Core, a joint venture that will focus on acquiring modern logistics facilities in India.
  • CPPIB has initially committed approximately US$500 million to the joint venture and will own a significant majority stake.
  • IndoSpace Core has committed to acquire 13 well-located industrial and logistics parks totalling approximately 14 million square feet, from current IndoSpace development funds
  • The venture also has the option to acquire an existing pipeline worth approximately US$700 million as well as participate in a future development pipeline.

 

Toronto, Canada/Mumbai, India – May 15, 2017: Canada Pension Plan Investment Board (CPPIB) and IndoSpace, India’s largest developer of modern industrial and logistics real estate, today announced the creation of IndoSpace Core, a joint venture that will focus on acquiring and developing modern logistics facilities in India. CPPIB has initially committed approximately US$500 million to the joint venture and will own a significant majority stake. IndoSpace Capital Asia will manage the new entity.

IndoSpace Core has committed to acquire 13 well-located industrial and logistics parks totalling approximately 14 million square feet, from current IndoSpace development funds. The joint venture will acquire the first nine facilities totalling approximately nine million square feet at closing, and the additional facilities within 24 months. The assets are prime industrial properties located in the top industrial and logistics hubs in India, including Chennai, Pune, Mumbai, Delhi and Bangalore.

Andrea Orlandi, Managing Director, Head of Real Estate Investments – Europe, CPPIB, said, “The strong fundamentals underlying the Indian manufacturing and retail sectors and growth in e-commerce, combined with the low stock of high-quality modern industrial real estate in the country, make this a compelling investment opportunity for a long-term investor like CPPIB. This joint venture gives us immediate scale and access to a significant development pipeline in a rapidly growing sector. IndoSpace is the leading industrial platform in India and we look forward to building a long-term partnership with IndoSpace and its sponsors through this joint venture.”

IndoSpace Core has the option to acquire additional industrial and logistics parks totalling approximately 11 million square feet, which are currently being developed by IndoSpace funds and are worth approximately US$700 million. IndoSpace Core will also opportunistically acquire stabilized assets from third parties across India.

Sameer Sain, Co-Founder and Managing Partner, Everstone Group, said, “As the leading owner and developer of logistics and industrial spaces in India, IndoSpace is excited to partner with CPPIB, one of the premier owners of industrial real estate globally. The combination of our expertise and a strong macro backdrop, including Make in India, the GST rollout and growth in e-commerce, will provide significant opportunities for this joint venture.”

About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At December 31, 2016, the CPP Fund totalled C$298.1 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn or Twitter.

About IndoSpace
IndoSpace (www.indospace.in) is the pioneer and largest provider of modern industrial and logistics real estate in India and currently has 21 industrial and logistics parks across India. It is a joint venture between the Everstone Group (www.everstonecapital.com) and Realterm (www.Realterm.com). The Everstone Group is a premier India and South East Asia focused private equity and real estate firm. Realterm is a multi-strategy private equity real estate operator whose industrial platforms, Realterm Logistics and Aeroterm, are industry leaders with over 300 operating and development properties in North America, Europe and India.

For more information:

Canada Pension Plan Investment Board
Dan Madge
Senior Manager, Media Relations
T: +1 416 868 8629
dmadge@cppib.com

Mei Mavin
Director, Corporate Communications
T: +1 646 564 4920
mmavin@cppib.com

IndoSpace
Kamil Zaheer
Executive Director, Corporate Communications
Everstone Group
T: +91 98115 38880
kzaheer@everstonecapital.com

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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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