Everstone Group Wins Four Back to Back Prestigious Awards

Wins ‘Firm of The Year – India’ and ‘Mid-Market Firm of The Year – Asia’ by Private Equity International, Wins ‘Indian Fund Manager of the Year’ by VC Circle and Wins ‘Firm of the Year in India’ (Real Estate – IndoSpace) by PERE

Mumbai, March 02, 2020 – The prestigious ‘Private Equity International’ (PEI) has named Everstone Group ‘Firm of the Year – India’ and ‘Mid-Market Firm of the Year – Asia’ at PEI Awards 2019. The Group has won these awards for the eighth and the third time respectively since 2011.

The PEI Awards are the largest and most respected awards in the global private equity industry. With multiple categories for selection, voters have the chance to vote for categories across Global awards, EMEA awards, North America awards, Asia-Pacific awards and Secondaries awards.

Additionally, IndoSpace, the real estate arm of Everstone and India’s largest developer of Grade A industrial real estate and logistics parks has been named as the ‘Firm of the Year – India’ by ‘PERE’, the real estate arm of PEI, at PERE Awards 2019.

PERE is the leading publication for the world’s private real estate markets. Its annual awards recognize the industry’s most elite people, firms and deals across a variety of distinct categories. The winner of each category is determined by industry participants through a highly controlled voting system. This year, more than 100,000 votes were cast for the PERE awards.

Everstone Capital also won the ‘Indian Fund Manager of the Year’ at the recently held VC Circle Awards 2020. The annual VCCircle awards felicitates Private Equity and Venture Capital-backed companies in key sectors as well as investment funds, law firms and investment bankers.

Sameer Sain, Co-Founder and CEO, Everstone Group, said “We are delighted to win these four extremely coveted awards. We are thankful to our investors and partners for their vote of confidence as well as to our incredibly talented team. We look forward to continue the good work and set new benchmarks of excellence in the coming years.”

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

About Everstone Group

Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com and LinkedIn

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Everstone to Partner with Brookfield for an investment In IndoStar

Mumbai Friday, January 31, 2020 – The Everstone Group (Everstone), a leading private equity and real estate investor, today announced that it has entered into an agreement whereby Brookfield Business Partners, together with its institutional partners (collectively “Brookfield”) will, upon closing of the transaction, invest INR 1,450 crore in IndoStar Capital Finance Limited (IndoStar) through a combination of subscription to securities and purchase of shares from IndoStar Capital Mauritius and mandatory tender offer, and seek to acquire 40% interest in the business, depending upon the subscription to the mandatory tender offer.

The overall investment will comprise a combination of primary investment in equity shares and compulsorily convertible preference shares of INR 1,225 crore along with a secondary purchase of shares from IndoStar Capital Mauritius. Brookfield will also become a co-promoter in IndoStar and nominate two board members. R. Sridhar will continue to lead the company in his role as Vice Chairman and CEO, IndoStar.

The fresh investment by Brookfield will support the continued growth of IndoStar’s retail business.

Speaking on the investment, Dhanpal Jhaveri, Chairman, IndoStar and Vice Chairman, Everstone India said “We are delighted to partner with a reputable global investor such as Brookfield and welcome them to the IndoStar family. We see opportunities to continue delivering substantial value to IndoStar’s customers, employees and investors. We have built a top-quality business in IndoStar and are excited for its next phase of growth.”

Aditya Joshi, Senior Vice President, Brookfield, said, “We believe in the long-term secular growth runway of the Indian retail financial services sector. IndoStar has an experienced management team and a strong position in attractive and growing retail lending segments. We look forward to partnering with Everstone and the IndoStar management team to further scale the business.” IndoStar Capital Mauritius continues to be the promoter and an active shareholder in IndoStar which it built from the ground up since 2011. IndoStar has assets under management of INR 10,600 crore and offers a wide range of loans to nearly 60,000 customers. The investment remains subject to receipt of regulatory approvals and satisfaction of other closing conditions. Nomura served as the exclusive financial advisor. S&R Associates, AZB & Partners and Cyril Amarchand Mangaldas acted as legal counsel for Everstone, Brookfield and IndoStar respectively.

About the Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5
billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant
resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and
Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience
and skills. For more information, visit www.everstonecapital.com and follow us on LinkedIn

About Brookfield Business Partners
Brookfield Business Partners is a business services and industrials company focused on owning and operating
high-quality businesses that benefit from barriers to entry and/or low production costs. Brookfield Business
Partners is the flagship listed business services and industrials company of Brookfield Asset Management, a
global alternative asset manager with more than $500 billion of assets under management. For more
information, visit www.brookfield.com

About IndoStar Captial Finance Limited
IndoStar is a non-banking finance company (NBFC) registered with the Reserve Bank of India as a systemically
important non-deposit taking company. Promoted by Everstone Group, IndoStar is a professionally managed
and institutionally owned organization which is engaged in providing structured term financing solutions to
corporates, used and new commercial vehicle financing for transporters, and loans to SME borrowers,
affordable Home Finance through the wholly-owned subsidiary IndoStar Home Finance Private Limited.
IndoStar has assets under management of Rs. 106 billion and offers a wide range of loans to nearly 60,000
customers. For more information, visit www.indostarcapital.com

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Everstone Group partners with Suresh Vaswani to strengthen its’ global information technology investment effort

Mumbai, May 20, 2019 – The Everstone Group has partnered with Suresh Vaswani, who was previously the President of Dell Services and Co-CEO of Wipro, to co-invest in the information technology sector. He will be a Senior Director at the Everstone Group and will also join the board of two group companies – Servion Global Solutions, a US headquartered omnichannel customer experience management company and Innoveo AG, Switzerland based InsurTech Cloud software provider.

Suresh will work closely with Avnish Mehra, Managing Director, Everstone Group to provide strategic and operational expertise in current and prospective investee companies worldwide. He will be based out of the US and split his time between U.S. and India.

“Suresh brings a wealth of global information technology expertise and experience. This partnership will strengthen our capability set on the sector as a whole, and specifically on our cross-border investment strategy, where we synergize with our infrastructure in India and South East Asia.” said Sameer Sain, CEO, The Everstone Group.

“Everstone Group has a global mindset with a strong understanding and expertise in the information technology sector. I am delighted to partner with them and look forward to working closely with the Everstone team globally.” said Suresh Vaswani, Senior Director, Everstone Group.

Suresh recently joined the board of Vodafone-Idea and is an external advisor to Bain Consulting. He has over three decades of leadership experience across global IT/technology majors which includes Dell, IBM and Wipro. Suresh is an alumnus of Indian Institute of Technology, Kharagpur with an MBA from Indian Institute of Management, Ahmedabad.

About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com

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IndoSpace and GLP Form Strategic Partnership

Mumbai, 23 September 2018 – IndoSpace, the largest industrial real estate company in India, and GLP, the leading global provider of modern logistics facilities and technology-led solutions, have established a long-term partnership. GLP will partner with IndoSpace and also co-invest in IndoSpace’s managed investment vehicles. The partnership enables IndoSpace to leverage GLP’s fund management, development and operational expertise and resources, as well as GLP’s extensive global customer network, to further strengthen IndoSpace’s leadership position in India.

IndoSpace has an established platform with over US$2 billion in assets under management today and plans to raise additional capital to build out a pipeline of approximately 120 million square feet of modern logistics infrastructure. Demand for logistics facilities in India is driven by economic expansion, growth in organized retail and e-commerce and the modernization of India’s supply chain, underpinned by favorable government policies, such as the Goods and Services Tax and the ‘Make in India’ initiative.

Through this partnership, GLP will also become an investor in IndoSpace Core, a joint venture established in 2017 by IndoSpace and Canada Pension Plan Investment Board (CPPIB) that is focused on acquiring and developing modern logistics facilities in India. CPPIB initially committed approximately US$500 million to IndoSpace Core and owns a significant majority stake in the Core vehicle.

Sameer Sain, Co-Founder and CEO of the Everstone Group (co-founder of IndoSpace), said, “IndoSpace is excited to partner with GLP, the global leader in the logistics space. GLP’s expertise, scale, technology and global relationships will give us a massive advantage and enable us to deliver significant value to our customers and investors.”

Ming Mei, Co-Founder and CEO of GLP, said, “This partnership is highly strategic and mutually beneficial. IndoSpace is an experienced partner which shares similar values and culture as GLP. It provides us with immediate scale to capitalize on the early growth stages of India’s rapidly modernizing logistics landscape and further expand our logistics ecosystem.”

About IndoSpace
IndoSpace (www.indospace.in) is the pioneer and largest provider of modern industrial and logistics real estate in India and currently has 30 industrial and logistics parks across India. It is promoted by 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 in North America.

About GLP
GLP (www.glprop.com) is the leading global provider of modern logistics facilities and technology-led solutions, with over US$50 billion in assets under management across its real estate and private equity segments. The Company’s real estate fund platform is one of the largest in the world, spanning approximately 700 million square feet.

For more information:

IndoSpace

Karan Anand
Corporate Communications
Tel: +91 98333 72732
kanand@everstonecapital.com

GLP

Ambika Goel, CFA
SVP – Capital Markets
Tel: +65 6643 6372
agoel@glprop.com

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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 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 https://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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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 https://www.rubicon.co.in/

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