Tags: Babson Capital Management, Bayside Capital, Business Process Outsourcing, Kekst and Company Incorporated, PRC, prcnet.com, Silver Point Capital, Steven K. Richards

PRC, LLC, a leading provider of outsourced customer management services, announced today that Steven K. Richards has been appointed Chief Executive Officer of the Company, effective immediately. Mr. Richards will also join the Board of PRC’s parent company.

Mr. Richards succeeds Jerry McElhatton, who served as PRC’s CEO during its recently-completed reorganization. Mr. McElhatton will remain with the Company in an advisory capacity during a transitional period.

Mr. Richards, 45, is a seasoned executive with an outstanding record of achieving growth and profitability in the Business Process Outsourcing (BPO) industry. Prior to joining PRC, he served as President of Transworld Systems, the largest North American commercial receivables management solutions outsourcer, where during his four-year tenure he led an expansion of the business and delivered record revenues and earnings. Prior to Transworld, from January 2002 through April of 2004 he served in a variety of senior executive roles, including COO, at RMH Teleservices, a leading North American call center outsourcer. During his tenure, he was responsible for achieving substantial growth and improvement in the company’s profitability as the result of a series of rigorous sales and operational initiatives. In addition to these leadership roles, Mr. Richards previously held key positions with AT&T and with Excel Communications, a unit of BCE Inc.

“I am delighted to join PRC as we embark on an exciting new stage in the Company’s history,” Mr. Richards said. “PRC has a well-deserved reputation for delivering superior customer satisfaction for its marquee clients and providing outstanding service to their customers. Our top priority will be to continue to deliver on PRC’s commitment to 100%, across-the-board client satisfaction. PRC has an excellent team of talented, forward-thinking professionals, and I look forward to working closely with them as we grow the business together.”

Mr. McElhatton added, “Steve brings a wealth of experience in the BPO industry and outstanding leadership credentials to PRC. I am confident that Steve and his team will capitalize on PRC’s financial stability and operational effectiveness to realize PRC’s ambitious growth and profitability objectives.”

Mr. Richards earned a Business degree with honors at Penn State and has completed Executive Programs at Duke, UVA and Penn State.

About PRC

PRC is an outsourced Business Solutions Provider globally delivering Customer Management and Sales & Marketing services on behalf of leading brands. With over 25 years of experience, PRC delivers solutions that support communications to target, acquire, grow, retain and develop customer relationships that deliver a positive return on their clients’ investment. Headquartered in Ft. Lauderdale, Florida, the Company supports clients worldwide through its global network of centers. PRC is privately held. The largest equity holders of its parent company are investment firms that are affiliates of Babson Capital Management, LLC, Bayside Capital and Silver Point Capital. For more information, visit www.prcnet.com.

Contacts

Kekst and Company Incorporated
Michael Freitag or Wendi Kopsick, 212-521-4800