Morgan Stanley Private Credit and Onex Falcon recently announced the completion of their investment in CSS Corp, a global customer experience and technology services provider. The investment includes both mezzanine financing and equity participation. Additionally, Morgan Stanley Private Credit and Onex Falcon will be involved with the company’s board of directors.
“We welcome the investment of Onex Falcon and Morgan Stanley Private Credit in CSS Corp, alongside our investment in the company. This latest investment solidifies the company’s position as an industry leader and will help fast track its growth.”
The investment represents a strong vote of confidence in CSS Corp’s premium service offerings and differentiated value proposition which proactively solve clients’ critical business problems. This transaction will enable CSS Corp to continue its industry leading organic growth and expand its capabilities and geographical footprint through strategic alternatives.
Bill Gassman, Executive Director of Morgan Stanley Private Credit, said, “We are pleased to partner with Capital Square Partners, Onex Falcon and the executive management team of CSS Corp in this exciting investment. The company is redefining traditional services through an intersection of industry-leading proprietary solutions, resilient operations and innovative business engagement models. With its recent announcement of Sunil Mittal as the new CEO, CSS Corp is well positioned to continue its strong momentum into the future.”
Sven Grasshoff, Managing Director at Onex Falcon, said, “CSS Corp has carved out a niche for itself in the new age technology outsourcing and support space facilitating the company’s substantial growth over the last few years. We have full confidence in CSS Corp, Capital Square Partners, and newly designated CEO, Sunil Mittal, and look forward to contributing to their next chapter of growth.”
Sanjay Chakrabarty, Managing Partner of Capital Square Partners, said, “We welcome the investment of Onex Falcon and Morgan Stanley Private Credit in CSS Corp, alongside our investment in the company. This latest investment solidifies the company’s position as an industry leader and will help fast track its growth.”
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Sunil Mittal, CEO of CSS Corp, said, “We have outperformed on all fronts, from growth and client satisfaction to employee engagement and operations, and emerged as a strong player disrupting the industry. We could not be more excited to be working with Onex Falcon and Morgan Stanley Private Credit. Their support will help us expand our current capabilities and geographic footprint while providing innovative solutions and customer-centric services under the CSS Corp umbrella in the coming years.”
CSS Corp has grown revenues consistently through its most recent fiscal year ending March 31, 2021. Capital Square Partners, a Singapore-based Private Equity Fund Manager, acquired a controlling stake in CSS Corp on February 25, 2021.
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