Mar 26, 2007

Riverlake Partners Acquires Utah-Based O’Currance Teleservices

by PR or Business News Wire

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.

O’Currance Teleservices, based in Salt Lake City, started its teleservices in 1994, and has since led the way in the development of inbound-call management through Web-based virtual offices and remote telesales agents. The company also offers telemarketing, telesales and call center operations for nationally known clients and name-brand products in nearly every industry.

Riverlake Partners is an Oregon-based private equity sponsor focused on traditional economy manufacturing and business services companies in the lower middle-market throughout the United States.

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 inbound 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.”