Friday, March 23, 2007

Private Equity Firm Buys O'Corrance Teleservices

Riverlake Partners, LLC, a private equity firm, said this morning that it has acquired Salt Lake City, Utah-based O'Currance Teleservices, from Carla Meine and Wasatch Venture Funds. Financial terms were not disclosed. O'Currance Teleservices provides web-based virtual offices and telesales for marketing promotions. According to Riverlake, the deal was funded through senior debt from Zions First National Bank, with subordinated debt financing from Fifth Street Capital. O'Currance will retain 600 of its employees in Salt Lake.