Frontier Capital Announces $115 Million Growth Equity Fund

Charlotte, NC – October 5, 2007 – Frontier Capital, a private equity firm providing growth equity to business services companies, announced that it has successfully closed Frontier Fund II LP at $115 million of committed capital. Fund II exceeded its $100 million target and is more than 2.5 times larger than the firm’s $45 million debut fund.
“We are pleased with our success in raising Fund II and are proud to be associated with such high caliber institutional investors. Our ability to attract these investors with our second fund is a testament to the value of our investment strategy and the dedication and talent of our team”, Andrew Lindner, Managing Partner commented.

Frontier Fund II Limited Partners include Lockheed Martin Corporation Master Retirement Trust, Alpheus Group, Parish Capital, the Duke Endowment, Brooke Private Equity Advisors, Little Hawk Capital Management, Pittco Management and Keystone Private Equity. Investors also include family offices, the firm’s Operating Partners and former portfolio company CEOs.

The Investment Team includes Andrew Lindner and Richard Maclean, Managing Partners, Michael Ramich, Partner, Michael Pappas, Special Limited Partner, Joel Lanik, Principal and Scott Hoch, Associate. The Support Team includes Katina Jakubowski, Director of Marketing and Administration, Lori Shell, Chief Financial Officer and Jessie Elium, Administrative Assistant. Frontier also works closely with a group of Operating Partners including Ed Crutchfield, former Chairman and CEO of First Union Corporation and Don Telage, former CEO of Network Solutions.

Frontier Capital targets high growth business services companies that have proven their value in the marketplace and are seeking expansion capital to maximize shareholder value. Frontier will invest to fund growth, acquisitions or shareholder liquidity.

“Growth equity has been receiving a lot of attention recently and for good reasons. We have been focused on this sector since 1999 and our investors have been very pleased with our results. Fund II will allow us to continue building our position as the leading growth equity investor in business services companies in our region”, Richard Maclean added.

Frontier invests in traditional and technology-enabled business services. “Our focus on services companies makes us better partners and allows us to bring best practices and value beyond capital to our portfolio,” Mr. Lindner added. Fund II has recently announced investments in Ryla Teleservices (Kennesaw, GA), a niche provider of outsourced customer contact solutions, and Conclusive Marketing (Franklin, TN), a leading provider of multi-channel direct marketing solutions.

About Frontier Capital

Frontier Capital is a private equity firm focused on providing growth capital and support to business services companies. The firm invests $5 - $10 million in companies with $5 - $30 million of revenue located throughout the Southeast, South and Mid-Atlantic regions. The professionals of Frontier are disciplined and diligent investors focused on maximizing shareholder value. Since the firm’s inception, it has built an excellent track record of delivering industry leading returns to investors and management partners. www.frontiercapital.com