Riverlake Partners Acquires Utah-based O'Currance Teleservices

SALT LAKE CITY, UT-Mar. 20, 2007-Riverlake Partners, LLC, has executed a majority control purchase of O'Currance Teleservices from Carla Meine and Wasatch Venture Funds to provide capital and leadership for growth. Zions First National Bank provided the senior debt financing, while Fifth Street Capital, LLC provided the subordinated debt financing. Terms were not disclosed.

As part of the acquisition, James B. Nelson was appointed chairman, Blake Rigby, president, and David Meine, executive vice president. O'Currance Teleservices will continue to be based in Salt Lake City, and its 600 employees have been retained. David Meine will remain minority owner.

"Representing our customers with integrity, respect and consideration are values with which Carla started the company and we will continue," said Nelson. "I share Carla’s dedication to excellence and desire to provide superior customer service."

O'Currance Teleservices is an industry leader in inbound call management through web-based virtual offices and remote telesales agents. The company handles in-bound consumer calls from various marketing promotions, including radio, television, direct mail, newspaper and internet campaigns. O'Currance has been widely-recognized for its highly-trained sales force which consistently generates higher than industry standard conversion rates from inbound calls.

The acquisition is the next step in an ongoing effort to meet customers’ expansion needs, provide a broader base to help current clients grow, and to serve new, national-scale clients.

"The day-to-day business operations will not change. We value all of our 600 in-office and at-home agents, and the current management structure will remain intact," said Nelson. "By utilizing state of the art technology and truly outstanding customer service, we intend to take the company to the next level at a more rapid rate."

O'Currance Teleservices started its innovative approach to teleservices in 1994, with a commitment of quality to its customers and its agents alike. O'Currance has since led the way in the development of inbound call management through Web-based virtual offices and remote telesales agents, a method that has quickly become an industry standard. With the combined experience of a talented management team, O'Currance has grown to offer telemarketing, telesales and call center operations for nationally-known clients and name-brand products in nearly every industry. For more information, visit www.ocurrance.com.

Riverlake Partners, LLC, was founded in 2003 as a private equity sponsor focused on traditional economy manufacturing and business services companies in the lower middle-market throughout the United States. Riverlake's strategy is to make leveraged control growth investments in smaller companies with definable and changeable growth characteristics, proven products and services and a capable management team. Riverlake specializes in partnering with existing management teams to develop and execute the company’s long-term growth strategy and consistently providing solid returns for stakeholders. For more information, visit www.riverlakepartners.com.