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Business Services Industry

U.S. Based BPO Provider to Latin American Banks Closes USD $90 Million Debt Financing

Business Wire, April 23, 2008

SAN DIEGO & NEW YORK -- Mark R. Bernier, president and CEO of Thornton Americas Holdings (U.S.), LLC., (www.tahus.com) a Carlsbad, California based firm that owns, operates and invests in various receivables management businesses throughout the Americas announced the completion of a USD $90 million debt financing. Through its 600 employees in four countries, Thornton specializes in managing credit-intensive and distressed consumer assets, actively managing and/or owning over USD $2.7 billion of consumer credit accounts throughout North and South America.

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Thornton's subsidiaries provide Business Process Outsourcing (BPO) services to the financial services industry throughout the Americas, and is the only U.S. based Consumer Finance BPO Provider offering these services in Latin America. Financing will support Thornton Americas Holdings (U.S.), LLC continued portfolio acquisition programs and service offerings in Argentina, Brazil, Mexico and the United States. Thornton has recently acquired over 5 million consumer accounts representing USD $2.2 billion in 3 countries. The Company has invested significantly in advanced, proprietary systems to support its rapid growth and to support client's needs.

"We are pleased to have completed the recent closings of our two related debt financings," said Mark Bernier, Thornton's CEO. "The size and flexibility allowed under the debt facilities will allow us to continue to innovate and improve our back-office while we acquire sizeable portfolios of consumer accounts. We are already a recognized regional player in the LatAm BPO receivables management space. The combination of this debt with an anticipated equity offering should provide the footings we need to become a true leader throughout the Americas."

Provident Group acted as Placement Agent and Financial Advisor in the transactions to Thornton. Steven Carlson, CEO of Provident Group commented further, "Thornton is a pioneer in providing BPO services supporting consumer receivables management, and their team is capable of leading Thornton to become the largest BPO provider focusing on consumer loan servicing in Latin America."

Provident Group is a New York-based investment bank that focuses on structuring and placing transactions for middle market firms and emerging market based companies (with a focus on the Americas). www.provident-group.com.

Business Services Industry

U.S. Based BPO Provider to Latin American Banks Closes USD $90 Million Debt Financing

Business Wire, April 23, 2008

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