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.

American Burger Chain Carl Jr to enter India

Carl Jr is an American Based Fast food restaurant chain, operates in Western and Southwestern states. As of 2013, it started expanding in Canada, Dominican Republic, Brazil, Rico, Malaysia, Denmark, New Zealand, Singapore, Russia, Vietnam, Thailand, UK, and China. Carl Karcher is the founder of this chain and started operation in 1941. It is in the top ten fast food chains in the United States after Subway, McDonald’s, KFC, Burger King, Wendy, Taco Bell, Popeyes, and Church Chicken.

In April 2015, Indians will have choice to taste charbroiled burgers by Carl Jr. This brand has been endorsed by the like of Paris Hilton, Kim Kardashian, and Padma Lakshmi. The American fast food chain has already signed a franchise agreement with city based Cybiz BrightStar Restaurants Pvt Ltd, owned by CybizCorp. Over the next five years, there would be at least 100 Carl Jr outlets in India. The chain targets to open about 1,000 outlets across India over 10-15 years.

Carl Jr joins the race with the world’s largest burger chain Burger King, which had formed a joint venture with private equity fund Everstone Capital last year to develop its presence in India and plans to open the first outlet in India on 9 November 2014. The chain would spend $25 Million in the first five years in developing a presence in India. CKE Restaurant Holdings, the parent company of Carl Jr had already invested $1.5 Million in India in Consumer Research, product development and tasting trials during the past three years.

In a recent report, it is noted that Indian Food service market will soar to $92 Billion by 2020 from $48 Billion. Of this, the $3 Billion chained restaurant segment is expected to see the fastest growth rate of 15 percent, with the size pegged to touch $8 Billion by 2020.