Genstar Capital Partners with Bain Capital in the Recapitalization of Stream International
1/5/2000
Contact: Genstar CapitalAndrea Ginsberg(415) 664-4680aginsberg@gencap.comJanuary 5, 2000 – Genstar Capital Partners II, L.P. has joined Bain Capital, Inc. and a group of other investors in the recapitalization of Stream International Inc.“Stream has a leading position as a high quality, high value service provider in a dynamic industry and as such has a bright future ahead of it with shareholder support”, said Richad F. Hoskins, a Genstar Managing Director who will be joining Stream’s Board of Directors.Headquartered in Canton, MA, Stream International is a leading global provider of Web and voice-based customer support services for technology companies and e-businesses. With 10 support centers and over 5,000 employees worldwide, Stream International resolves nearly two million technical issues per month. Stream delivers innovative, high quality support solutions in numerous languages 24 hours per day to leading hardware manufacturers, software developers, online service providers and Fortune 1000 companies.Stream International is aggresively expanding its sales and service offerings throughout the US and Europe. Since 1994, Stream International’s revenues have grown at an annual rate of 55 percent. Of Stream Intenational’s $214 million in 1998 revenues, 40 percent was derived from Internet-based business and 60 percent from software and hardware providers.Headquartered in Boston, MA, Bain Capital, Inc. is a private equity investment firm with over $6 billion in total capital under managment.Genstar Capital LLC is a private-equity investment firm that was formed to make control-oriented equity investments, structured as leveraged buyouts on growth financings, in middle market companies.