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Everstone Scores Big Return As It Sells Controlling Stake In India’s Rubicon Research

 
• By Penelope MacRae

Everstone Group has signed a deal to sell its controlling stake in Indian contract research firm Rubicon Research to General Atlantic for a reported INR10bn ($145mn), generating a more than four-time return on its initial investment.

Notes
Everstone Will Sell Its Stake In Rubicon For A Reported INR10bn • Source: Shutterstock

The Everstone Group is selling its controlling stake in Rubicon Research to a global private-equity player for an estimated INR10bn ($145.12mn), more than quadrupling its return on the investment it made in the Mumbai-based contract research and manufacturing services (CRAMS) company three years ago.

Everstone, a Singapore-based private-equity firm, did not identify the buyer but Indian media named the purchaser as General Atlantic, a US-based growth equity investor which set up shop in India in 2002

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