Homegrown private equity player ChrysCapital has acquired ResultsCX, a customer experience partner to Fortune-100 and Fortune-500 companies globally, from middle market private equity firm One Equity Partners (OEP).
The announcement comes within a week of VCCircle's report on ChrysCapital’s plan to raise about $1 billion for its new fund.
The financial details of the acquisition remained undisclosed in the announcement made by ResultsCX.
Headquartered in Florida, ResultsCX provides automation-enabled customer support, acquisition, enrolment, retention, membership assistance, technical support and transaction processing services to companies across the healthcare, telecom and cable, media and retail industries.
The company’s core expertise extends to actionable analytics, contact centre as a service (CCaaS), process automation, and its own SupportPredict digital engagement software as a service (SaaS).
With approximately 20,000 employees and 25 delivery centres globally, ResultsCX claims to deliver omni-channel and resolution-centered customer experience.
“Our new ownership brings the opportunity for ResultsCX to expand our global presence and increase investments in emerging technologies for our clients,” said Chad Carlson, CEO of ResultsCX.
He added, “ResultsCX will benefit from ChrysCapital’s deep experience in the technology sector. Additionally, the firm’s established global network and ability to deploy further capital in support of our business make ChrysCapital an ideal partner for ResultsCX.”
Over the last few years, ResultsCX has been making investments in AI and digital customer experience solutions. The company’s commitment to resolution-centered CX is fulfilled by its SupportPredict digital engagement platform, skilled agents, and social experience management solutions that put brands in control of their online reputation and build customer loyalty, it said in a statement.
Sidley Austin served as the legal counsel for ChrysCapital and KPMG as the financial and tax advisor. Dechert served as legal counsel for ResultsCX and OEP.
OEP, the private equity arm spun out of JP Morgan Chase & Co in 2015, is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe.
ChrysCapital, founded in 1999, is a New Delhi-based investment advisory firm that invests in technology services, financial services, pharma and consumer services. It has raised $4 billion across eight funds.
The PE firm has made almost 100 investments across a variety of sectors with investments such as Infogain, LiquidHub, GeBBS Healthcare, QuEST Global, Mphasis, Hexaware, HCL Technologies, Infosys and Spectramind.
It has claimed to have realised over $5.6 billion from more than 70 full exits.
In August, ChrysCapital, along with other investors, picked up a minority stake in QuEST Global, a Singapore-based engineering solutions and lifecycle services company.
“Digital transformation is forcing companies to change their business models and expand beyond traditional channels to an omni-channel service approach. With its strategic AI-plus-human intelligence approach and comprehensive digital and social media-based offerings, ResultsCX is well-positioned to gain from this shift,” said Akshat Babbar, director at ChrysCapital.