Glencoe Capital Announces Investment in Dialogue Marketing Creates new entity "DIALOGDIRECT" with Budco and NOVO 1
BIRMINGHAM, Mich., Jan. 30, 2014 /PRNewswire/ -- Glencoe Capital's Michigan Opportunities Fund, has announced a significant investment in Troy, Michigan based Dialogue Marketing. Dialogue Marketing will be combined with Glencoe's existing marketing services and customer care businesses, Budco and NOVO 1 which were merged last year, into a new entity called DIALOGDIRECT, officials said today. Terms of the transactions were not disclosed.
"We are excited to fully integrate the collective strengths of these high-performing companies," said Doug Kearney, Principal of Glencoe Capital. "Based upon their similar cultures and industry vertical expertise, we are confident that the organization will quickly demonstrate expanded service potential to both existing and new clients. The deal increases capacity, enhances capabilities and provides additional competitive differentiation for our company, particularly in the areas of big data, predictive analytics and social media."
Dialogue Marketing operates across five locations in the U.S. and one in Costa Rica with a combined workforce of 1,300 employees focusing on customer engagement services to create remarkable experiences between brands and consumers. The company offers predictive analytics, CRM, social media, lead generation, customer care inside sales support, and order fulfillment services that build long term enterprise value and lifelong customer relationships.
"Dialogue Marketing's sophisticated analytics and customer interaction strategies blend perfectly with NOVO 1's customer care solutions and Budco's technology-enabled marketing solutions. By joining forces we bring together industry thought-leadership and proprietary technology to be leveraged between companies, supported by a passionate and innovative culture," said Kearney.
"This investment enables us to share deep managerial and operational strengths with a leading technology platform while adding scale and capital to continue our successful growth," said Peter Schmitt, CEO and President of Dialogue Marketing. Schmitt will continue in an executive leadership role with DIALOGDIRECT.
Ron Risher has been named Executive Chairman and CEO of DIALOGDIRECT. "The new DIALOGDIRECT creates a one-source provider for companies looking to build their brands with processes that deliver a more effective and integrated customer experience, playing to the strengths of today's mix of online and traditional service channels," said Risher.
The new organization will be headquartered in Highland Park, MI. The total revenue of the combined entities exceeds $200 million annually, supported by 4,100 employees in 12 operating facilities in the U.S. and one in Costa Rica serving Latin America. The management teams of all companies remain in place and will work together to enhance solutions to existing clientele.
The new DIALOGDIRECT brand represents the company's vision to provide end-to-end customer experience solutions for organizations looking to target and support customers assist customer networks with direct marketing, sales and fulfillment and provide high-value and cost efficient customer care from U.S. based agents.
The new name and logo blend elements of all former companies now under the DIALOGDIRECT brand. The company tagline "The Total Customer Experience" connotes the entirety of the services DIALOGDIRECT provides to its client base.
"The design of the icon includes interlocking dialogue boxes and Ds representing the name while conveying targeted and ongoing two-way communication with clients and customers," said Jack Wilkie, DIALOGDIRECT CMO. "The logo showcases a distinct design style that imparts simplicity, structure, and cleans lines. And, the font selection and color combination evoke a friendly, yet professional look and feel. We believe using alliteration in the icon and name helps make the moniker more memorable."
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. The firm has completed over 45 acquisitions, representing over $ 1.6 billion in transaction value (as of 9/30/2013). Glencoe Capital currently manages three funds: the Glencoe Capital Michigan Opportunities Fund, L.P., Glencoe Capital Partners III, L.P. and Glencoe Capital Partners II, L.P.
The Glencoe Capital Michigan Opportunities Fund, the firm's fourth fund, was established in June of 2008 and represents a groundbreaking partnership of public and private interests in the deployment of private equity capital. The Fund makes lead-sponsored acquisitions and growth equity investments in companies that conduct a material portion of their business operations in Michigan. The Fund may also invest in companies located outside of Michigan that demonstrate a viable strategy for expanding business operations into the State. Find out more about Glencoe Capital at www.glencap.com1.
Budco is a leading business process outsourcing company providing technology- enabled marketing solutions to leading companies throughout North America. Founded in 1982 and headquartered in Highland Park, Michigan, the company applies a suite of in-house resources to develop and execute innovative, end-to-end business solutions, delivering results that drive client success. Primary industry segments include automotive, pharmaceutical, health care, retail, travel and leisure and consumer packaged goods. For more about Budco visit www.budco.com.
About NOVO 1
Since 1984, NOVO 1 has been dedicated to tailoring contact center solutions to support clients' business goals in building customer relationships and growing their brands. NOVO 1′s Customer Obsession Program ™ and Smart Desktop Solutions™ incorporate game-changing technology and top 1% industry best-practices to design customized solutions to provide ideal customer experiences. Find out more online at: www.NOVO1.com.
1 This not an offer or a solicitation for any fund. This press release is intended solely to provide information regarding Glencoe Capital's potential financing capabilities for prospective portfolio companies.
SOURCE Dialogue Marketing