Glencoe Combines Two Portfolio Companies
Budco and Novo 1 will each be folded into a new entity that will do business as Glencoe Business Service
Private equity firm Glencoe Capital LLC has agreed to merge two of its portfolio companies.
Budco and Novo 1 will be combined and renamed Glencoe Business Service Holdings LLC (GBS).
Terms of the transaction were not released.
Glencoe acquired Budco, headquartered in Highland Park, Mich., in November 2011. The company provides digital and physical marketing communication services to companies. Novo 1, acquired in September 2009, is based in Fort Worth, Texas, and provides customer care services through its network of call centers.
Budco and Novo 1 are each slated to operate as stand-alone brands under the new GBS entity. Current Novo 1 president and chief executive Mary Murcott has been named chief strategy and marketing officer of GBS.
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