Mumbai: Mangalorean CEO Susir Kumar Lands Mega Deal

Media release

• Blackstone and Management team to acquire Intelenet in an MBO structure

Susir Kumar

Mumbai, June 21: With the country’s economy going global, Mangaloreans too are making their mark in a big way in the corporate world. After Indra Nooyi of Pepsico and K V Kamath of ICICI, it is now the turn of Susir Kumar, CEO, Intelenet Global Services to bask in the media limelight.

The reason, this week, he landed one of the largest management buy-out deals of its kind, when his company Intelenet Global Services Pvt Ltd (Intelenet) agreed to be acquired by an affiliate of The Blackstone Group and the management team.

The deal is subject to regulatory approval. Intelenet announced earlier this week its intention for a management buy-out (MBO) that will see HDFC and Barclays transferring their ownership of Intelenet to a company jointly owned by Blackstone and the current management team of Intelenet. 

Intelenet is a leading global BPO service provider servicing over 60 local and international clients from 18 locations across India.  Since its incorporation in 2000, Intelenet has grown from 25 employees at a single site to over 17,000 employees across 18 locations in India and overseas, delivering a multitude of services to clients in the US, UK, Australia and India.  Following the transaction, Intelenet will continue to provide business-processing services to all its current customers including Barclays.

Under the terms of the transaction, Intelenet will continue to be led by Susir Kumar, CEO and the existing management team, which has been instrumental in driving the growth experienced by the company.

Susir Kumar has been the chief executive officer of Intelenet Global Services since its inception in November 2000. He has over 18 years of extensive experience and worked with India’s premier financial services company - HDFC.
 
A Company Secretary by qualification, Kumar is an alumnus of SDM College of Business Management in the city and has earlier served Mangalore Refineries Private Ltd (MRPL) and helped the company ride through its public issue. In fact he visited the city this week to inaugurate the new academic block of SDM College of Business Management.

Susir Kumar was among the top ten key managers at HDFC during his decade long tenure there. Susir streamlined and put the recovery business in order. A key person involved with introducing changes in the bad debts and recovery process, he is known to have used his strong negotiation skills to learn the psyche of defaulters.

Having handled HDFC's Rights and Public issue, he also helped the financial institution in promoting and incorporating IDFC, installing compliance systems within group companies such as HDFC Standard Life, HDFC Chubb Insurance, HDFC's Asset Management Company and to date remains a strategic person for the management.

He brings with him expertise in setting up and managing several profitable group companies and harbors a passion for people and technology.

Commenting on the buy-out, Susir Kumar, CEO, Intelenet Global Services said, “We are extremely excited about this development. Blackstone has a superb record in financing companies and the development will enable us to continue with our ambitious growth plans.”