Scronce & Associates is a new private equity group that invests in small to mid-size privately owned entrepreneurial companies located in the southeast US with revenues from USD1m to USD15m that are in transition and need both financial and business support.
Tim Scronce (pictured), president/chief executive of Scronce & Associates, says: "With revenues in this range, many banks and private equity companies are reluctant to provide capital due to size or insufficient assets to raise debt. In today’s uncertain economic environment, banks have tightened their lending criteria and many private equity firms will only invest in larger ventures."
Companies experience several critical phases in their life cycle. Scronce & Associates focuses on supporting businesses during the small to mid-size transition. Entrepreneurs who have built businesses know there is that unique moment in the growth of a company where it becomes too small to be big and too big to be small. This phase can often be "make or break" for business owners due to a number of challenges occurring simultaneously when a company may not have the resources to advance to the next level. Business owners may have an idea in mind of where they want to take their company, but lack adequate direction and capital to get there.
Through a combination of small business financing and advising, the team enables previously undiscovered companies to get where they want to go without tying on the risk that can often be a part of that process.
"At Scronce & Associates, we are not interested in participating in the day-to-day operations of businesses. Rather, we work with current management to refine the existing business strategy and create actionable, realistic plans to help small business owners to build upon best practices and develop a blueprint for the future," adds Scronce.