One Equity Partners acquires NCO Group, Inc.
HORSHAM, PA, May 16, 2006 - NCO Group, Inc. (“NCO” or the “Company”) (NASDAQ: NCOG), a leading provider of business process outsourcing services, announced today that its Board of Directors received yesterday a proposal from Michael J. Barrist, Chairman and Chief Executive Officer of the Company, to acquire all of the outstanding shares of the Company for $27.50 per share in cash. Mr. Barrist intends to partner in this transaction with One Equity Partners II, L.P. A copy of the text of the proposal letter is set forth below.
The Board of Directors of the Company is scheduled to meet later today and intends to form a Special Committee of independent directors to consider the proposal. The Special Committee will retain independent financial advisors and legal counsel to assist it in its work. The Board of Directors cautions the Company’s shareholders and others considering trading in its securities that the Board of Directors has just received the proposal and no decisions have been made by the Board of Directors with respect to the Company’s response to the proposal. There can be no assurance that any agreement will be executed or that any transaction will be approved or consummated.
One Equity Partners closed on its acquisition of NCO Group on November 15, 2006.