Tim Scronce, former TelWorx CEO, has started a private equity group focused on funding businesses in the southeastern region of the United States. Scronce & Associates will concentrate on businesses in transition that produce annual revenue of $15 million or less.
Tim Scronce, former CEO of TelWorx Communications, has created a private equity firm focused on helping small and medium-sized businesses in the American southeast. The firm, Scronce & Associates, LLC, has enlisted LAD Solutions to develop its early-stage marketing and promotional strategies.
Scronce & Associates will focus on funding manufacturing, distribution and service companies that want to scale their operations. Eligible businesses will have annual revenue between $1 million and $15 million along with positive cash flow. For a majority ownership position, Scronce’s private equity group may provide between $200,000 and $2 million in investment capital. The group may also accept minority participation status in appropriate business situations.
According to Scronce, his new firm looks for small companies that demonstrate a solid business model, unique market positioning and compelling growth potential. The group’s goal is to help small companies transition into medium-sized, middle market businesses. Scronce & Associates works by helping the current management team both to refine its business model and to execute actionable, realistic plans.
To help small businesses scale profitably, Scronce & Associates concentrates on developing and executing an effective growth strategy. After providing a clear assessment of the company’s current condition, Scronce & Associates explores different routes to company growth. Scronce leverages his experience with mergers and acquisitions, offshore sourcing and margin improvement to define the right growth strategy for each small company. In addition to unleashing structural growth and improved cash flow, Scronce & Associates advises businesses on brand development, operational efficiency and change management as they scale.
Drawing on his experience as chief executive of TelWorx, COO and president of Blue Rhino and executive of Diageo, PLC, Tim Scronce approaches private equity investing from an operator’s perspective. Before companies can expand, Scronce works with their management teams to identify operations issues. At the same time, Scronce adopts a hands-off approach, avoiding involvement in day-to-day operations. His participatory style, according to Scronce, comes from his philosophy that leadership is about inspiring, developing and supporting management teams.
Overall, the firm’s goal is to provide crucial financial and business support to companies that, as Scronce puts it, are “too small to be big and too big to be small.” Scronce & Associates plans to provide a unique mix of financing and advising that can enable small companies to make the next leap forward.
About Scronce & Associates: Scronce & Associates, LLC, is a private equity group dedicated to investing in small firms in the southeastern U.S. Tim Scronce, former CEO of TelWorx Communications, founded the group after recognizing that small businesses on the cusp of becoming medium-sized businesses often lack private equity funding and adequate access to credit. To learn more, visit Scronce & Associates online at ScronceAndAssociates.com.