PE Everstone Capital and Solmark invest Rs 400 cr in services firm Servion

Prateek Dhawan, MD, Everstone and Puneet Pushkarna, General Partner, Solmark will be joining the board of Servion

Everstone Capital, an India focused PE firm along with US-based Solmark, has signed an agreement to invest Rs 403 crore ($66million) for acquiring a controlling stake in Chennai-based Servion Global Solutions.

Servion is provider of customer interaction management (CIM) solutions and applications for companies, enhancing customer interactions via the phone, internet, email, chat and social media. The company has revenues exceeding Rs 350 crore in FY2014, and global footprint of more than 60 countries.

The investment has been done through Evertech Pte Ltd, the Everstone Group’s technology investing platform. The transaction, which was advised by Avendus Capital, will provide an exit to most of the existing financial investors and non-working promoters.

Prateek Dhawan, Managing Director, Everstone, who led this transaction and will be joining the board of the company, said, “Servion’s cutting edge solutions and outstanding management team offer a unique and strong investment opportunity. Combining efforts with our long standing friends and partners at Solmark will enable us to propel the company’s growth to the next level.” Prateek Dhawan, Managing Director, Everstone and Puneet Pushkarna, General Partner, Solmark will be joining the board of Servion.

“Servion is at an inflection point today. We aim to widen our footprint, design and adopt new age technologies, deepen our understanding of customer problems and as a result, positively impact every single interaction happening across the world. To enable us to get there, we need to make strategic investments in several critical areas, and this partnership with Everstone and Solmark will help us address that,” said Balakrishnan K, CEO & Managing Director, Servion.