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For Immediate Release

PSI Services LLC, A Waud Capital Partners Portfolio Company, Acquires Applied Measurement Professionals, Inc.

Burbank, CA, January 4, 2016 – PSI Services LLC (PSI), a worldwide, industry-leading professional testing services provider to corporations, Federal and State government agencies, professional associations and certifying bodies, today announced that they have acquired Applied Measurement Professionals, Inc. (AMP), a wholly owned subsidiary of the National Board for Respiratory Care (NBRC), in a stock purchase effective December 31, 2015.

Gary Smith, President of AMP and Executive Director of NBRC stated that, “NBRC and AMP have been looking for strategic partner opportunities with an organization that would be a good cultural fit. PSI’s client-centric customer service approach and high level of integrity perfectly fits with the long-standing AMP culture and core values. This is an important and timely transition for all of AMP’s clients and employees, as well as the NBRC, and we could not have done it without the incredible commitment PSI has shown to our stakeholder community. As the Executive Director of NBRC, I take great pride in what we have built over these past 30 years with AMP and look forward to a long lasting partnership with PSI.”

Greg Becker, Executive Vice President, PSI, said, “We look forward to partnering with Gary and his experienced team of professionals and we are excited about our strategic investment plans for Kansas City. AMP has a rich and successful history serving the credentialing marketplace that will help lead to a seamless transition for all those critical clients that PSI/AMP intends to embrace by offering even more cost effective services.”

“The AMP acquisition supports PSI’s expansion and growth plans as we look for strategic opportunities within our core market segments,” said Steve Tapp, President and CEO of PSI. “By joining forces with AMP, PSI is furthering its commitment to offering the most robust, full service, end-to-end testing solution in the industry. We look forward to the strategic growth opportunities that will result from this valued partnership.”

PSI provides various solutions through its multiple business channels including talent assessments (of job-seeking candidates as well as employee development programs), licensure testing and license management services (for government regulatory agencies), and certification credentialing services (for certifying bodies) worldwide. PSI offers clients various solutions to measure, assess and identify the skills, traits and abilities of individuals seeking jobs, licensure or certification credentials.

About PSI
PSI Services LLC (PSI) has 70 years of experience providing worldwide testing solutions to corporations, Federal and State government agencies, professional associations and certifying bodies. PSI offers a comprehensive solutions approach from test development to delivery to results processing, including pre-hire employment selection, managerial assessments, licensing and certification tests, license management services and professional services. For additional information on PSI, visit www.psionline.com.

About Waud Capital Partners
Waud Capital Partners is a leading Chicago-based private equity investment firm founded in 1993 that partners with exceptional management teams to acquire or create platforms in the U.S. lower middle market through control-oriented growth equity investments, industry consolidation, buyouts or recapitalizations. The firm seeks to invest $50 million to $100 million (including follow-on investments) of total equity in each platform company and employs a disciplined three-phase investment strategy with staged investments designed to generate superior risk-adjusted returns. WCP targets services businesses in large, growing, fragmented markets within two industries: healthcare services and business and technology services. Typically, the initial platform companies in which WCP invests have enterprise values between $50 million and $250 million. The firm has successfully completed more than 180 investments since its founding.

For additional information on WCP, visit the firm's website at www.waudcapital.com.

For Further Information:
Greg Becker, Executive Vice President
PSI Services LLC
(818) 847-6180
gbecker@psionline.com

For Further Information:
Philip S. Kemp, Jr., Principal - Investor Relations
(312) 676-8435
pkemp@waudcapital.com

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