Everstone to buy CRM Solutions

India focused private equity firm Everstone Group has agreed to acquire US based global CRM solutions provider C3 (CustomerContactChannels) through its Singapore based arm Everise Services, along with Sunrise BPO Pte Ltd as co-investor. The business has been bought from Stone Point Capital and senior Leadership of C3.

Stone Point Capital is a private equity firm that makes investments in businesses within the global financial services industry. Stone Point has raised and managed six private equity funds – the Trident Funds – with aggregate committed capital of approximately $13 Billion. As part of this strategy, Sunrise BPO will take the leading role in operating the business, in addition to bringing Capital. Everstone will be the largest financial investor and it will take the lead in C3 India operational built out to grow the company.

Everise is targeting to make C3 into a $500 plus Million revenue company over the next five years, from current $200 Million. Over the past six years, C3 has clocked revenue CAGR of more than 60%. This marks Everstone third investment through its latest private equity fund, ECP III, which raised $730 Million last year and the second investment into the ITes enabled space after it acquired a controlling stake Servion Global Solutions.

Founded in 2010, C3 expanded operations in the Philippines and Guatemala and has a marquee list of over 20 clients in healthcare, telecommunications & media, consumer internet, Logistics, retail, travel and hospitality and financial services. C3 also provides training and consulting in the customer management solutions space, as well as sales, performance optimization, reputation management and complete customer lifecycle management via traditional, web, and emerging communication channels.