Glencoe Capital Michigan Opportunities Fund Acquires NOVO 1

Acquisition Reflects NOVO 1’s Fast Business Growth; Commitment to Customer Care and Contact Center Expansion

FORT WORTH, TX (March 9, 2010) — NOVO 1, a leading provider of customer contact solutions, has been acquired by Glencoe Capital’s Michigan Opportunities Fund. The fund, managed by Glencoe Capital, a private equity firm focused on lead-sponsored acquisitions and growth equity investments in lower middle-market companies, focuses on such businesses that have the prospect to expand business operations in the state of Michigan or are actually located there. NOVO 1 plans to open a customer care and contact center in western Michigan this year that will employ more than 300 personnel.

The Michigan Opportunities Fund acquired NOVO 1’s inbound telephone customer service business and certain other assets of the company. With revenues of $43 million, NOVO 1 currently has six contact centers throughout the US, including Texas, Montana, and Wisconsin, with its new headquarters located in Fort Worth, TX. The company has more than 400 corporate clients and employs more than 1,100 customer-care specialists for diversified industries that range from healthcare to retail.

“Our investment in NOVO 1 continues the Michigan Opportunities Fund’s strategy to invest in growing companies that can generate attractive returns to our investors, while promoting business growth and fostering job creation that together help improve the economic vitality of the State of Michigan,” said David S. Evans, Chairman and Chief Investment Officer, Glencoe Capital.

Jason Duzan, Managing Director, Glencoe Capital’s Michigan Opportunities Fund, stated, “With NOVO 1, Glencoe Capital is supporting a growing business that has a solid operating platform, a management team that averages 15 years with the company, and a history of success.”

Formed in 2000, the company will continue to operate under the NOVO 1 brand name and will be managed by its current management team.

“NOVO 1 is on an exciting and targeted course to multiply its growth in the next several years,” said Mary Murcott, CEO, NOVO 1. “As Glencoe understands our core business and is highly successful in its market reach, we will be poised with their support to leverage opportunities that will allow us to expand regionally and nationwide.”

ABOUT NOVO 1
Since 1987, Fort Worth-based NOVO 1, www.novo1.com, has dedicated itself to tailoring contact center solutions to support clients’ business goals in building customer relationships and growing their brands. The company delivers adaptable solutions implemented with proven processes and people for industries, such as healthcare, financial, retail, and logistics. Whether it’s a healthcare service, B2B logistics dispatch, or a retail customer retention program, NOVO 1 provides a scalable, safe, and seamless extension to any business.