Académique Documents
Professionnel Documents
Culture Documents
Opportunity
As more and more insurance is purchased online, how
do you
Profit from this increasing trend to an online world?
Minimize and hedge the risk of your existing investments
in the traditional Agent-MGA-Carrier model of
distribution?
Capitalize on this business model to distribute profitable
programs and cherry-pick the low-risk, high reward
products for a captive insurance company, the best
investment and tax-advantaged entity available for
accumulating and reinvesting capital.
2
Online is Key
Distributing insurance online is a key way to both cut
prices and generate favorable returns.
Insurers will likely benefit from the continued rise in internet sales as firms establish strong online
presences similar to discount retailers Geico and Progressive. This trend is important because these
firms can sell products at lower rates and still generate favorable returns due to the low-cost
nature of online sales, since they do not have to pay commissions and wages to brokers and
agents.
(Source: IBISWorld Industry Report, Property, Casualty, and Direct Insurance in the US," December
2011)
(Source: McKinsey & Company, Journey III: The Next Frontier in Property & Casualty Insurance," January 2011)
Low to Moderate Average Sales Price. Currently, customers are comfortable spending $25
2.
The Insurance Policy is purchased because it is compulsory and buyer also needs
insurance for compliance. Car and homeowners insurance (Geico and Progressive), Business
to $2,500 on automated, online insurance sites without having actual contact with customer
relationship/sales personnel. Higher purchase price is still a trust sale. However, with the long
term trend towards more computer savvy users, online insurance purchasing will only grow. As
more and more Generation X and the Millennials move into the workforce, purchasing online is
second-nature to these demographics.
Owners Policies Hiscox system in U.K. and recent roll-out in United States)--Special Event Liability
Insurance (i.e. DirectEventInsurance, EventHelper), etc.
3.
Traditional insurance distribution chain adding very little value to policy holder.
4.
Products are easy to understand. Independent agents and brokers are not providing consultative
selling or hand-holding advice in the traditional model. The majority of customer service issues
and policy administration is easily transacted online by policyholder. COI issuance, change of
address, and billing updated through online system. Online chat capability and IVR phone system
are necessary as well as intuitive online GUI.
that are kicked out of the system for applying actual judgment, discernment, and humanunderwriting review.
Case Study:
Event Insurance
Brand launched and listed in top ten on Google for the
Event Insurance search term.
Operation hit cash-flow break-even in less than 18
months.
Second site iteration deployed as we have increased
automation and marketing sophistication.
$270,000 in revenue YTD 2013 and more than $900,000 in
premium. Budgeted to grow to more than $1,000,000 in
net revenue over next three years.
6
Independent
Agent
Wholesaler
Carrier
Reinsurance
To become an Approved carrier for Access America Transport, Carrier must provide
and meet internal and external requirements that provide us with pre-screened,
underwritten accounts.
Carriers Must Pass Access Americas Internal Risk Review including Credit Worthiness and Safety Record.
Provide your MC/MX# or DOT# to begin registration. Intrastate carriers without a DOT# may provide an applicable state registration
number to begin registration.
Provide a Carrier Contact that is authorized to enter into and bind your company to Access America Transport's Agreement.
Complete Carrier Profile.
Submit Trade References.
Carriers are required to meet the following Access America Transport Carrier Compliance Requirements:
Safety Rating must be Satisfactory (Conditional Carriers can complete a Corrective Action Plan online.)
Meet the Access America Transport CSA minimum requirements.
All Carriers must have appropriate Federal, State, or Provincial Authority.
Financially stable.
In addition, Access America Transport keeps all its carriers insurance information and
SAFER scores online.
Supply information about your current insurance producer (agent). Provide a Certificate of Insurance that meets the insurance minimum
requirements below. Certificates must be submitted from your insurance producer (agent);
$100,000 Cargo Coverage
$1,000,000 Auto Coverage
If RMIS does not already have a copy of your certificate on file, we will request one for you from your insurance agent (producer) but we
can not accept certificates from you directly
10
Product Overview
Trip specific, Excess Limit $150k and $400k Motor
Truck Cargo Insurance.
Follow Form Policy
Site
Design
12
2014
2,268,036
453,607
16,502
10,726
2015
7,625,893
1,525,179
890,645
578,919
2016
12,744,643
2,548,929
1,718,420
1,116,973
13
Mitigant
Mitigant
Mitigant
Mitigant
Mitigant
Mitigant
Strategy Summary
1.
Why Excess Cargo Insurance? The product was selected as a result of 30 + years
experience in underwriting transportation business, our learning's from past two years
of online insurance distribution, and prior ownership in entrepreneurial operations.
2.
Why Our Strategy Upload Freight is reconfiguring the traditional insurance value
chain to cherry-pick the high-margin, high-value transportation accounts while driving
down cost
3.
Why Our Team An experienced, proven team that synthesizes the best from
insurance underwriting, online distribution expertise, and making money for our
partners.
15
Call to Action
Opportunity to partner with game changing insurance services
innovator
Compelling innovation opportunity in historically profitable and stable
insurance products
Appendix A
PRO-FORMA FINANCIAL
PROJECTIONS
Summary Pro-Forma
Gross Written Premium
Net Revenue
Earnings Before Tax
Net Income
2014
2,268,036
453,607
16,502
10,726
12/20/2013
2015
7,625,893
1,525,179
890,645
578,919
2016
12,744,643
2,548,929
1,718,420
1,116,973
Page 1 of 13
Uses of Funds
CapEx Required for Go-Live
Paydown of Chase Credit Card
Paydown of WF Credit Card
Paydown of WF LOC 1
Paydown of WF LOC 2
Capital to Reach Break Even
Working Capital
Total Uses of Funds
$350,000
350,000
100%
100%
15,000
13,702
15,008
34,229
22,220
63,338
186,503
350,000
4%
4%
4%
10%
6%
18%
53%
100%
12/20/2013
Page 2 of 13
Transaction
Post-Financing
$0
$350,000
$350,000
Assets
Current Assets
Cash
Other Assets
Capitalized Software
Fixed Assets
Accum. D & A
Total Assets
540,916
11,774
0
552,690
540,916
11,774
0
350,000
902,690
0
13,702
15,008
34,229
22,220
Equity
Paid in Capital
Retained Earnings
467,531
0
350,000
817,531
0
$552,690
$350,000
$902,690
Balance Check
0
13,702
15,008
34,229
22,220
12/20/2013
Page 3 of 13
Jan-15
2014
2015
2016
$2,268,036
$7,625,893
$12,744,643
453,607
1,525,179
2,548,929
20%
20%
20%
255,000
51,000
45,361
11,100
3,500
3,600
12,000
200
6,000
2,129
5,400
2,400
2,355
37,061
437,106
332,000
66,400
152,518
11,100
3,500
3,600
12,000
200
6,000
0
5,400
2,400
2,355
37,061
634,534
410,000
82,000
254,893
11,100
3,500
3,600
12,000
200
6,000
0
5,400
2,400
2,355
37,061
830,509
96%
42%
33%
16,502
890,645
1,718,420
% of Net Revenue
4%
58%
67%
5,776
$10,726
311,726
$578,919
601,447
$1,116,973
2%
38%
44%
Net Revenue
% of Gross Premium
Overhead Expenses
Salaries
Benefits & PEO
Commissions
Rent
Accounting
Office Tech Exp
Telephones
Licensing
Customer Sales Exp
Interest Exp
E & O Insurance
Other Expenses
Depreciation
Amortization
Total Expenses
% of Net Revenue
(2) Assumed
no owned captive insurance entity. May launch in future but model assumes risk sourced at Lloyd's
12/20/2013
Page 4 of 13
As of December 31,
2014
2015
Jan-15
2016
Assets
Current Assets
Cash
$530,268
$1,401,711
$2,874,349
555,916
11,774
(39,416)
580,916
11,774
(78,832)
605,916
11,774
(118,248)
1,058,542
1,915,569
3,373,792
Liabilities
Accounts Payable
Chase Credit Card
WF Credit Card
WF LOC 1
WF LOC 2
230,286
0
0
0
0
508,393
0
0
0
0
849,643
0
0
0
0
Equity
Paid in Capital
Retained Earnings
817,531
10,726
817,531
589,645
817,531
1,706,618
$1,058,542
$1,915,569
$3,373,792
Other Assets
Capitalized
Fixed Assets
Accum. D & A
Total Assets
Balance Check
12/20/2013
Page 5 of 13
2014
2015
2016
67
27
5
99
225
90
18
333
375
150
30
555
Weeks
52.1
52.1
52.3
250
500
2500
250
500
2500
250
500
2500
872,321
697,857
697,857
2,268,036
2,933,036
2,346,429
2,346,429
7,625,893
4,901,786
3,921,429
3,921,429
12,744,643
210
400
1875
210
400
1875
210
400
1875
Premiums to Lloyd's
250k Limit Policies
500k Limit Policies
Higher Limit Policies
Premiums to Lloyd's
732,750
558,286
523,393
1,814,429
2,463,750
1,877,143
1,759,821
6,100,714
4,117,500
3,137,143
2,941,071
10,195,714
Net Revenue
250k Limit Policies
500k Limit Policies
Higher Limit Policies
Net Revenue
139,571
139,571
174,464
$453,607
469,286
469,286
586,607
$1,525,179
784,286
784,286
980,357
$2,548,929
# of Sales Per Wk
250k Limit Policies
500k Limit Policies
Higher Limit Policies
Total Sales Per Wk
Jan-15
12/20/2013
Page 6 of 13
2014
2015
2016
30,000
75,000
75,000
75,000
0
255,000
32,000
100,000
100,000
100,000
0
332,000
35,000
125,000
125,000
125,000
0
410,000
51,000
66,400
82,000
15
Commissions
Sales Person
45,361
152,518
254,893
Total Commissions
45,361
152,518
254,893
Other Expenses
Rent
Accounting
Office Tech Exp
Telephones
Licensing
Customer Sales Exp
Interest Exp
E & O Insurance
Other Expenses
11,100
3,500
3,600
12,000
200
6,000
2,129
5,400
2,400
11,100
3,500
3,600
12,000
200
6,000
0
5,400
2,400
11,100
3,500
3,600
12,000
200
6,000
0
5,400
2,400
Non-Cash Expenses
Depreciation
Amortization
2,355
37,061
2,355
37,061
2,355
37,061
Salaries
Customer Service
G. Crotty
L. Sweetser
J. Oden
Sales Person
Total Salaries
Benefits & PEO Expense
# of Distro Partners
Jan-15
12/20/2013
Page 7 of 13
2014
2015
2016
$10,726
39,416
$578,919
39,416
$1,116,973
39,416
230,286
280,428
278,107
896,442
341,250
1,497,639
(15,000)
0
(15,000)
(25,000)
0
(25,000)
(25,000)
0
(25,000)
(13,702)
(15,008)
(34,229)
(22,220)
350,000
0
264,841
0
0
0
0
0
0
0
0
0
0
0
0
0
0
$530,268
$871,442
$1,472,639
0
$530,268
530,268
$1,401,711
1,401,711
$2,874,349
Jan-15
12/20/2013
Page 8 of 13
Net Revenue
% of Gross Premium
Overhead Expenses
Salaries
Benefits & PEO
Commissions
Rent
Accounting
Office Tech Exp
Telephones
Licensing
Customer Sales Exp
Interest Exp
E & O Insurance
Other Expenses
Depreciation
Amortization
Total Expenses
% of Net Revenue
Jan-14
$71,964
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
$287,857
$278,571
$287,857
14,393
13,000
28,786
27,857
28,786
41,786
43,179
43,179
41,786
57,571
55,714
57,571
20%
20%
20%
20%
20%
20%
20%
20%
20%
20%
20%
20%
21,250
4,250
1,439
925
250
300
1,000
200
500
710
450
200
196
3,088
34,759
21,250
4,250
1,300
925
250
300
1,000
0
500
568
450
200
196
3,088
34,277
21,250
4,250
2,879
925
750
300
1,000
0
500
426
450
200
196
3,088
36,214
21,250
4,250
2,786
925
250
300
1,000
0
500
284
450
200
196
3,088
35,479
21,250
4,250
2,879
925
250
300
1,000
0
500
142
450
200
196
3,088
35,430
21,250
4,250
4,179
925
250
300
1,000
0
500
0
450
200
196
3,088
36,588
21,250
4,250
4,318
925
250
300
1,000
0
500
0
450
200
196
3,088
36,728
21,250
4,250
4,318
925
250
300
1,000
0
500
0
450
200
196
3,088
36,728
21,250
4,250
4,179
925
250
300
1,000
0
500
0
450
200
196
3,088
36,588
21,250
4,250
5,757
925
250
300
1,000
0
500
0
450
200
196
3,088
38,167
21,250
4,250
5,571
925
250
300
1,000
0
500
0
450
200
196
3,088
37,981
21,250
4,250
5,757
925
250
300
1,000
0
500
0
450
200
196
3,088
38,167
241%
264%
126%
127%
123%
88%
85%
85%
88%
66%
68%
66%
(20,366)
(21,277)
(7,428)
(7,622)
(6,644)
5,197
6,451
6,451
5,197
19,405
17,733
19,405
-141%
-164%
-26%
-27%
-23%
12%
15%
15%
12%
34%
32%
34%
0
0
($20,366) ($21,277)
0
($7,428)
0
($7,622)
0
($6,644)
0
$5,197
0
$6,451
0
$6,451
0
$5,197
0
$19,405
0
$17,733
5,776
$13,629
-26%
-27%
-23%
12%
15%
15%
12%
34%
32%
24%
-141%
-164%
12/20/2013
Page 9 of 13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
$492,337
$505,926
$530,268
555,916
11,774
(32,847)
555,916
11,774
(36,131)
555,916
11,774
(39,416)
Assets
Current Assets
Cash
Other Assets
Capitalized
Fixed Assets
Accum. D & A
Total Assets
925,702
884,660
926,182
900,652
883,529
926,533
938,556
945,007
944,633
1,027,180
1,037,485
1,058,542
57,571
11,418
12,507
28,524
18,517
52,000
9,135
10,005
22,819
14,814
115,143
6,851
7,504
17,114
11,110
111,429
4,567
5,003
11,410
7,407
115,143
2,284
2,501
5,705
3,703
167,143
0
0
0
0
172,714
0
0
0
0
172,714
0
0
0
0
167,143
0
0
0
0
230,286
0
0
0
0
222,857
0
0
0
0
230,286
0
0
0
0
817,531
(20,636)
817,531
(2,903)
817,531
10,726
Balance Check
$925,702 $884,660 $926,182 $900,652 $883,529 $926,533 $938,556 $945,007 $944,633 $1,027,180 $1,037,485 $1,058,542
12/20/2013
Page 10 of 13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
# of Sales Per Wk
250k Limit Policies
500k Limit Policies
Higher Limit Policies
Total Sales Per Wk
25
10
2
37
25
10
2
37
50
20
4
74
50
20
4
74
50
20
4
74
75
30
6
111
75
30
6
111
75
30
6
111
75
30
6
111
100
40
8
148
100
40
8
148
100
40
8
148
Weeks
4.4
4.0
4.4
4.3
4.4
4.3
4.4
4.4
4.3
4.4
4.3
4.4
250
500
2500
250
500
2500
250
500
2500
250
500
2500
250
500
2500
250
500
2500
250
500
2500
250
500
2500
250
500
2500
250
500
2500
250
500
2500
250
500
2500
27,679
22,143
22,143
71,964
25,000
20,000
20,000
65,000
55,357
44,286
44,286
143,929
53,571
42,857
42,857
139,286
55,357
44,286
44,286
143,929
80,357
64,286
64,286
208,929
83,036
66,429
66,429
215,893
83,036
66,429
66,429
215,893
80,357
64,286
64,286
208,929
110,714
88,571
88,571
287,857
107,143
85,714
85,714
278,571
110,714
88,571
88,571
287,857
210
400
1875
210
400
1875
210
400
1875
210
400
1875
210
400
1875
210
400
1875
210
400
1875
210
400
1875
210
400
1875
210
400
1875
210
400
1875
210
400
1875
Premiums to Lloyd's
250k Limit Policies
500k Limit Policies
Higher Limit Policies
Premiums to Lloyd's
23,250
17,714
16,607
57,571
21,000
16,000
15,000
52,000
46,500
35,429
33,214
115,143
45,000
34,286
32,143
111,429
46,500
35,429
33,214
115,143
67,500
51,429
48,214
167,143
69,750
53,143
49,821
172,714
69,750
53,143
49,821
172,714
67,500
51,429
48,214
167,143
93,000
70,857
66,429
230,286
90,000
68,571
64,286
222,857
93,000
70,857
66,429
230,286
Net Revenue
250k Limit Policies
500k Limit Policies
Higher Limit Policies
Net Revenue
4,429
4,429
5,536
$14,393
4,000
4,000
5,000
$13,000
8,857
8,857
11,071
$28,786
8,571
8,571
10,714
$27,857
8,857
8,857
11,071
$28,786
12,857
12,857
16,071
$41,786
13,286
13,286
16,607
$43,179
13,286
13,286
16,607
$43,179
12,857
12,857
16,071
$41,786
17,714
17,714
22,143
$57,571
17,143
17,143
21,429
$55,714
17,714
17,714
22,143
$57,571
12/20/2013
Page 11 of 13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
2,500
6,250
6,250
6,250
0
21,250
4,250
4,250
4,250
4,250
4,250
4,250
4,250
4,250
4,250
4,250
4,250
4,250
Commissions
Sales Person
1,439
1,300
2,879
2,786
2,879
4,179
4,318
4,318
4,179
5,757
5,571
5,757
Total Commissions
1,439
1,300
2,879
2,786
2,879
4,179
4,318
4,318
4,179
5,757
5,571
5,757
Other Expenses
Rent
Accounting
Office Tech Exp
Telephones
Licensing
Customer Sales Exp
Interest Exp
E & O Insurance
Other Expenses
925
250
300
1,000
200
500
710
450
200
925
250
300
1,000
0
500
568
450
200
925
750
300
1,000
0
500
426
450
200
925
250
300
1,000
0
500
284
450
200
925
250
300
1,000
0
500
142
450
200
925
250
300
1,000
0
500
0
450
200
925
250
300
1,000
0
500
0
450
200
925
250
300
1,000
0
500
0
450
200
925
250
300
1,000
0
500
0
450
200
925
250
300
1,000
0
500
0
450
200
925
250
300
1,000
0
500
0
450
200
925
250
300
1,000
0
500
0
450
200
Non-Cash Expenses
Depreciation
Amortization
196
3,088
196
3,088
196
3,088
196
3,088
196
3,088
196
3,088
196
3,088
196
3,088
196
3,088
196
3,088
196
3,088
196
3,088
Salaries
Customer Service
G. Crotty
L. Sweetser
J. Oden
Sales Person
Total Salaries
Benefits & PEO Expense
# of Distro Partners
12/20/2013
Page 12 of 13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
($20,366) ($21,277)
3,285
3,285
($7,428)
3,285
($7,622)
3,285
($6,644)
3,285
$5,197
3,285
$6,451
3,285
$6,451
3,285
$5,197
3,285
$19,405
3,285
$17,733
3,285
$13,629
3,285
57,571
40,490
(5,571)
(23,564)
63,143
58,999
(3,714)
(8,052)
3,714
354
52,000
60,482
5,571
15,307
0
9,736
(5,571)
2,911
63,143
85,832
(7,429)
13,589
7,429
24,342
(15,000)
0
(15,000)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(2,284)
(2,501)
(5,705)
(3,703)
350,000
0
335,807
(2,284)
(2,501)
(5,705)
(3,703)
0
0
(14,193)
(2,284)
(2,501)
(5,705)
(3,703)
0
0
(14,193)
(2,284)
(2,501)
(5,705)
(3,703)
0
0
(14,193)
(2,284)
(2,501)
(5,705)
(3,703)
0
0
(14,193)
(2,284)
(2,501)
(5,705)
(3,703)
0
0
(14,193)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
$15,307
$9,736
$2,911
$85,832
$13,589
$24,342
406,505
$492,337
492,337
$505,926
505,926
$530,268
12/20/2013
Page 13 of 13
Appendix B
SCREENSHOTS OF SOFTWARE
PLATFORM
Website Homepage
Quote Screen
Customer Search
Holder First
Exported to Excel
Insured Company
CAJOMA Trucks
24-7 MEDICAL TRANSPORTATION
Kenwood Cargo Truck
Sergio Trucking Cargo
Testing Cargo Moving Inc.
John SuperTruckCo
Sweetser Trucking
ExampleTruckingCo
Total Paid
$387.88
$554.11
$554.11
$387.88
$554.11
$554.11
$387.88
$554.11
Texas Tax
$21.18
$30.25
$30.25
$21.18
$30.25
$30.25
$21.18
$30.25
Premium
$350.00
$500.00
$500.00
$350.00
$500.00
$500.00
$350.00
$500.00
Quote Id
5929
5930
5936
5938
5939
5943
5948
5953
CC Fee
$16.70
$23.86
$23.86
$16.70
$23.86
$23.86
$16.70
$23.86
Create Date
8/16/2013
8/29/2013
9/3/2013
9/4/2013
9/4/2013
10/7/2013
10/22/2013
11/29/2013
Activity Date
8/16/2013
8/29/2013
9/3/2013
9/4/2013
9/4/2013
10/7/2013
10/22/2013
11/29/2013
Total Paid
$387.88
$554.11
$554.11
$387.88
$554.11
$554.11
$387.88
$554.11
Texas Tax
$21.18
$30.25
$30.25
$21.18
$30.25
$30.25
$21.18
$30.25
Insured City
Laredo
Newark
Livonia
Newark
Las Vegas
Dallas
dallas
Dallas
Premium
$350.00
$500.00
$500.00
$350.00
$500.00
$500.00
$350.00
$500.00
Insured State
TX
DE
MI
DE
NV
WA
TX
TX
CC Fee
$16.70
$23.86
$23.86
$16.70
$23.86
$23.86
$16.70
$23.86
Insured Zip
78945
19711
48145
19702
45124
75215
75215
75215
Activity Dat
8/16/2013
8/29/2013
9/3/2013
9/4/2013
9/4/2013
10/7/2013
10/22/2013
11/29/2013
Appendix C
EXECUTIVES
Greg Crotty
Greg Crotty is owner and President of Frontline Underwriters, Inc., a
wholesale insurance firm located in Madison, Mississippi. The
company develops and distributes commercial auto programs specific
to the trucking industry and has retail customers in twelve states.
Greg has been in the insurance industry for 25 years.
Luke Sweetser
Luke Sweetser has a track record of high achievement in all of his endeavors, including his
roles as CEO, entrepreneur, private equity investor, and business mentor. As CEO, Mr.
Sweetser has led businesses with as few as 5 employees to enterprises with more than 200
employees in industries as diverse as heavy equipment manufacturing to software and
insurance. Leveraging his expertise in strategy, operations, and capital allocation, Mr. Sweetser
is actively engaged with several private businesses as an investor, advisor, and board member
as CEO of Helios Capital. He brings an integrated perspective to the areas of leadership,
strategy, operations analysis and improvement, acquisition integration, and major
transformation programs.
While at his predecessor private equity partnerships, Lewis Hollingsworth LP ("LH Equity") and the North Texas
Opportunity Fund LP ("NTOF"), Mr. Sweetser invested in 17 platform companies and completed an additional nine add-on
acquisitions with an aggregate purchase price of approximately $320 million. Of the $58.4 million in equity he has
invested, he has returned $114.9 million in cash and $71.5 million in unrealized returns, representing a cash-on-cash
return of 42% and a multiple of more than 3.0x invested capital.
As a business leader, Mr. Sweetser also has a solid track record. He has served as the chief executive officer or chief
restructuring officer for several operating companies, Sun Engine Manufacturing ($65 million in revenue), CSI Insurance
Group ($6.6 million in revenue), software company Envision Gaming (start-up to $2.5 million in revenue), and his current
endeavor, Helios Insurance Group.
Mr. Sweetser is a Chartered Financial Analyst. He received his B.A. from Harvard University. Despite his formal schooling,
he feels his real educationwhere he integrated his investment and operational perspectives, crafted his leadership style,
and honed his business judgmenthas all come from the school of hard knocks. He is tired of learning from his mistakes
and is actively looking to learn from others mistakes and successesthe definition of true wisdom.