Glencoe Capital's NOVO 1 Opens New Facility In Michigan
Glencoe Capital to expand facility in Holland, Michigan.
- Detroit, MI (1888PressRelease) October 12, 2010 - NOVO 1, a leading provider of inbound and outbound customer interaction solutions and a portfolio company of the Glencoe Capital Michigan Opportunities Fund, has opened a new 37,000-square-foot customer-service facility in Holland, Mich.
With the opening of the new facility, NOVO 1 will hire an additional 300 personnel over the next several years.
"The community in Holland and its surrounding area have a dynamic workforce, and the city is listed as the happiest place to live in America by Gallup-Healthways Well-Being Index," said NOVO 1 CEO Mary Murcott. "The new facility allows us to respond to new opportunities in the Midwest market while creating more jobs in the U.S."
NOVO 1 serves hundreds of corporate clients in the healthcare, transportation, insurance, financial services, telecom, utilities, retail and publishing industries. Its new facility was opened with assistance from a $1 million grant from the Michigan Economic Development Corporation (MEDC). The company also has operations in Texas, Montana, Wisconsin and employs more than 1,100 customer-care specialists.
"We are extremely pleased with NOVO 1's growth and look forward to its continued success," said Doug Kearney, a principal with Glencoe Capital. The Michigan Opportunities Fund purchased NOVO 1 in 2009.
Glencoe Capital's Michigan Opportunities Fund represents a groundbreaking partnership between the public and private sectors, leveraging equity capital to make lead-sponsored acquisitions and growth equity investments in companies in the State of Michigan or in businesses that want to expand operations into the State. The Fund invests in growing companies that can generate attractive returns to investors while promoting business growth and fostering job creation that together help improve the economic vitality of the State of Michigan. The Fund completed three portfolio investments in 2009 and closed one new investment in January 2010.
About Glencoe Capital
Founded in 1993, Glencoe Capital is a private equity firm focused on lead-sponsored acquisitions and growth equity investments in lower middle-market companies. Glencoe Capital and its affiliates manage a number of private equity funds, including the Michigan Opportunities Fund and Glencoe Capital Partners III, L.P.
About NOVO 1 Since 1987, Fort Worth, Tex.-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.
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