Representative Investments

Crimson's investments in companies such as SPI Technologies and Etelecare represent examples of how Crimson has successfully capitalized on the accelerating globalization trends within the services sector.

SPI Technologies is a leader in a range of transaction processing services such as litigation support, scholarly publishing and complex content conversion and has served clients such as Microsoft, Boeing, Citibank, Bloomberg, LexisNexis, the European Patent Office, the U.S. Department of Justice and the British Ministry of Defense. Crimson helped to grow SPI into the largest independent business process outsourcing (“BPO”) services company in Asia, with over 6,000 employees and a global footprint with sales offices in the U.S. and Europe and service operations in the Philippines, India and China. The company grew from $17 million in revenues and $2 million in EBITDA when Crimson invested in 2000, to revenues and EBITDA of $74 million and $22 million respectively in 2003. SPI was successfully sold to a financial acquirer in 2004.

Etelecare, based in Arizona and leveraging extensive operations in Asia, has become a leading provider of complex inbound voice programs in the call center industry with customers such as American Express, AT&T Wireless, Citigroup, Intuit and Verizon. In 2006, for the fifth straight year, it was voted as the highest quality overall CRM (customer relationship management) outsourcer in the world at ICCM, the world's largest call center trade show. The company has increased EBITDA from approximately break-even in 2001 to $38 million in 2007. The company completed an IPO led by Morgan Stanley in 2007.