Representative Investments

Crimson's investments in companies such as SPI Technologies and Etelecare represent examples of how Crimson has successfully capitalized on the trend toward globalized services.

SPI Technologies is the leader in a range of transaction processing services such as litigation support, scholarly publishing and complex content conversion and has served leading companies and institutions 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 recently won a $40 million multi-year digital content conversion contract to build the world's largest electronic repository of scientific information for Reed Elsevier, the leading publisher of scientific journals, and is the only offshore provider of litigation support services certified by the U.S. Department of Justice. SPI was successfully sold to a financial acquirer in 2004.

Etelecare, based in the U.S. and leveraging cost-effective service personnel in Asia, has become the leading provider of complex inbound voice programs in the call center industry with customers such as American Express, AT&T Wireless, Home Depot, Best Buy, Verizon and Barnes & Noble. In 2004, for the fourth 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 over $15 million in 2004.