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GLENCOE CAPITAL'S NOVO 1 SECURES $10.7 MILLION IN CREDIT FROM CHARTER ONE

Birmingham, Michigan (July 6, 2010) - NOVO 1, a Glencoe Capital Michigan Opportunities Fund portfolio company, has secured $10.7 million in credit from Charter One and its affiliates. The credit includes a $7.5 million revolving credit commitment, a $1.5 million term loan, and a $1.7 million lease line of credit.

NOVO 1, a U.S.-based contact center and customer solutions company, plans to use the credit for working capital needs, to execute its future growth plan, and to fund the expansion of its new facility in Holland, MI.

"We are extremely pleased to have secured this credit on behalf of NOVO 1 and look forward to the company's further growth," said Doug Kearney, a principal with Glencoe Capital's Michigan Opportunities Fund. "NOVO 1 will continue to develop strong operational relationships with clients, responding to new opportunities and seeking to create new jobs in Michigan."

NOVO 1 is dedicated to providing contact center and customer solutions to support clients' business goals. The company works with clients in the healthcare, insurance, financial, telecom, utilities, retail and publishing industries and has locations in Texas, Montana, Wisconsin, and Michigan.

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. The firm has over $1 billion under management. More information is at www.glencap.com.

For more information, contact:
Andrew Baker, Clovis, Inc.
(312) 346-1700