Safeguard moves to new site
Safeguard, which provides printing, filing, promotional products, business apparel and Web services to businesses, has moved its Oklahoma City office to a new location at 5150 N Sewell Ave. The new office will provide the same services and also will offer warehousing and fulfillment services for its clients, the company said. Safeguard owner Rick Stallings said the move reflects the firm's growth in the Oklahoma City market.
Outsourcing firm buys call center
iQor, a customer interaction and outsourcing firm, has acquired the CCT Group, a contact center outsourcing company that includes an Ada-based call center with about 180 employees, from majority investor Headland Capital Partners. The terms of the transactions were not disclosed. CCT has 4,500 employees and maintains two customer care brands. Interactive Response Technologies was founded in 1993 as a software company for the call center industry before it began operating contact centers on behalf of its Fortune 500 clients. In addition to the Ada call center, Interactive Response Technologies operates four other contact centers in Florida and Texas. Cyber City Teleservices, founded in 1999, provides call center outsourcing from operations in Panama and the Philippines. iQor is acquiring CCT free of its existing debt with the support of iQor's equity owners, Huntsman Gay, CVCI and Starr Principal Holdings.
Loan portfolios offered for sale
Oklahoma City-based First Financial Network Inc. is offering $85 million in loans on behalf of the Federal Deposit Insurance Corp. The loans, divided into two portfolios, consist of commercial real estate, residential, commercial and industrial and asset-based lending whole loans and loan participations held by the failed NOVA Bank in Berwyn, Penn., for which the FDIC is acting as receiver. First Financial CEO Bliss Morris said NOVA Bank and its 12 branches were closed in October, “opening up the door for two offerings that represent an excellent acquisition opportunity both locally in the Philadelphia area and nationally for investors and banking institutions.” Due diligence materials will be available to qualified bidders beginning Feb. 4, 2013 at www.firstfinancialnet.com.
Continental details reserves
Continental Resources Inc. ended 2012 with proved reserves of 785 million barrels of oil equivalent, up more than 50 percent over the prior year, the company reported Wednesday. The company attributed its reserves growth to continued production growth in the Bakken Shale in North Dakota and Montana. Continental also has accelerated production in its South Central Oklahoma Oil Province. “We continue to increase our concentration in high-value, high-growth, crude oil assets, especially in the Bakken,” CEO Harold Hamm said. “We are growing the value of our Bakken assets through strategic acquisitions, exploration and the expanded use of pad drilling, which should improve efficiencies and translate into even better rates of return.” Continental produced 35.7 million barrels of oil equivalent in 2012, a 58 percent increase over the previous year. The company estimates its current production is about 116,000 barrels a day.
From Staff Reports