Greybull Stewardship Makes Growth Investment in Onsource

Greybull Stewardship has announced that we have made a growth investment in a unique platform that connects insurance companies with third-party vehicle and property photo inspections via smart phone apps.  Onsource LogoThe company, Onsource (www.onsourceonline.com), has a network of over 14,000 independent photo inspectors.  I am very excited to partner with the founders of Onsource, Steve Rubin and Tim Schneider, as they have done an outstanding job growing the company.  Below is the press release about the growth investment.

OnSource receives Growth Investment Funding from Greybull Stewardship

Investment to support rapid growth and to expand existing technology-related products and services.

Braintree, MA March 15, 2015 — OnSource, the platform that connects insurance companies with third-party vehicle and property photo inspections via smart phone apps, announces a boost to its growth and expansion plans by closing a $2.25 million investment from private equity firm, Greybull Stewardship.

“Partnering with Greybull Stewardship and its founder, Mason Myers, is a real win for us,” says OnSource co-founder Steve Rubin. “Mason has a proven record of providing support, both financial and operational, that runs parallel to our motives and goals. This growth capital enables us to move ahead quickly with our expansion plans and maintain flexibility for where we take our company long-term.”

Over the past year, OnSource has developed and released a suite of self-service inspection apps along with real-time photo and video streaming technology. This growth investment will allow OnSource to broaden the development of new inspection technologies while continuing to invest in their industry leading inspection platform.

“Onsource saves insurance companies time and money through an awesomely effective platform of smart phone apps utilized by independent third parties,” said Mason Myers, General Partner of Greybull Stewardship.  “We are pleased to provide the capital to support the very rapid month-over-month growth the company is experiencing.”

OnSource has experienced extensive growth in the first quarter of 2015 and is preparing to move their headquarters to larger office space in Braintree, MA to accommodate the onsite staff and support team.

“The opportunities ahead of us are exciting,” says OnSource co-founder Tim Schneider. “We’re changing the way the industry views and performs inspections and with this investment, we’re able to reach higher than ever before.”

About OnSource

Headquartered in Braintree, MA, OnSource enables companies to get fast, fair and efficient auto and property inspections through intuitive self-serve smartphone apps and an extensive national network of more than 14,000 photo inspectors. Backed by a team of quality assurance analysts and support professionals, inspections are completed quickly, accurately, and cost-effectively each and every time. To learn more, visit www.onsourceonline.com.

About Greybull Stewardship

Greybull Stewardship exists to provide business owners an ideal co-owner and steward of their business and earn attractive long-term, compounding, cash-on-cash returns for investors.  Greybull’s evergreen fund structure and flexible investment horizon is designed to align with the objectives of portfolio company co-owners and management, comprised of growing, profitable companies in the lower middle market with between $1 to $3 million in free cash flow. To learn more, visit www.greybullstewardship.com

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Greybull Acquires Summit Professional Education

Greybull Stewardship has announced that we have acquired an education company that helps health professionals maintain their licenses and certifications.  Summit Professional EducationThe company, Summit Professional Education (www.summit-education.com), offers seminars each year for over 75,000 physical therapists, occupational therapists, speech therapists, K-12 teachers, and others.  Greybull Stewardship partnered with the company’s CEO, Scott Vogel, to make the acquisition.  Below is the press release about the acquisition.

Greybull Stewardship Acquires Leading Allied Health Education Company, Summit Professional Education

 Leading Provider of Professional Continuing Education for 75,000 Allied Health Professionals Each Year Bought by Long-Term Oriented Owner, Greybull Stewardship

NASHVILLE, Tn. (December 15, 2014) – Summit Professional Education provides high-quality continuing education workshops and seminars to over 75,000 professionals each year, and it has been acquired by Greybull Stewardship in partnership with its CEO, Scott Vogel.

Summit provides workshops and seminars for physical therapists, occupational therapists, speech therapists, K-12 teachers, and others in all fifty states on a broad range of topics.  The workshops are approved by many different states, accreditation agencies, certification agencies, and others which enables these professionals to meet the continuing education requirements for their profession.

“Summit is a great organization that provides high-quality workshops that really help health professionals,” said Mason Myers of Greybull Stewardship.  “It is not easy to find great instructors, develop world-class content, and deliver these workshops in all fifty states. Scott Vogel is a dream CEO for this business and Summit has many competitive advantages that will allow it to do a great job for its customers for a long-time to come.”

“This is a very nice business and opportunity because of the growth in health care, the growth in continuing education requirements, and the satisfaction that comes from putting on great workshops for health professionals,” said Scott Vogel, CEO of Summit Professional Education. “We have an excellent group of instructors and team here that I love working with, and Greybull’s long-term oriented ownership will allow us to create value for our customers over a long time horizon.”

Greybull Stewardship seeks to invest in companies that are market leaders with strong competitive advantages, and supports its investments with a source of capital that allows companies to maintain their uniqueness. In pursuit of Greybull’s mission to build a perfect home for its investments that is different from most private equity investors, it utilizes an evergreen fund structure that does not force its investments to be sold on a specific time frame.

About Summit Professional Education

Nashville, Tennessee-based Summit Professional Education provides workshops and seminars each year for over 75,000 allied health professionals such as physical therapists, occupational therapists, speech therapists, K-12 teachers, and others. For more information, please visit www.summit-education.com.

About Greybull Stewardship

Mason Myers founded Greybull Stewardship in 2010 to build a portfolio of outstanding businesses and provide them a stable, long-term and supportive owner. The firm’s investors are business owners and operators themselves with experience in all areas of business management and leadership.  Greybull’s evergreen fund structure and flexible investment horizon is designed to align with the objectives of portfolio company co-owners and management, comprised of growing, profitable organizations in the lower middle market. For more information visit http://greybullstewardship.com.

Greybull Makes Growth Investment in Murphy Business Brokerage Firm

We are announcing that Greybull Stewardship has made a growth investment in Murphy Business & Financial, the nation’s #1 business brokerage firm according to IBISWorld.  Murphy Business logoThe Murphy brokers tend to be the best in the business and the support services provided to the brokers are first class.  Here is the press release from the company announcing the investment.

Murphy Business & Financial Corporation Receives Growth Investment from Private Equity Firm Greybull Stewardship

Minority Investment Will Support New and Improved Services, Training, and Technology for 150 Market Leading Business Brokers and Agents in the United States and Canada

CLEARWATER, Fla. (May 1, 2014) – Murphy Business & Financial Corporation, North America’s leading, full-service business brokerage firm with more than 150 offices in the United States and Canada, announced that it is entering a new chapter in its illustrious 20-year history. The Clearwater, Fla.-based franchisor, widely recognized for its track record in facilitating business sales, purchases, consulting, valuations, mergers and acquisitions, has received a growth investment from Greybull Stewardship in exchange for minority ownership.

The investment will support Murphy Business’ strategic growth initiatives in the United States and Canada. Plus, it will enhance the market-leading training and technology resources for the entire Murphy Business network. Greybull Stewardship, and its principal Mason Myers, have built a distinguished reputation by investing in unique, well-managed companies with strong executive leadership. Investing in Murphy Business continues this hallmark of Greybull’s investment strategy of keeping great management teams in place and giving them a free hand to manage the business.

“We were attracted to the Greybull Stewardship philosophy of working with companies that have strong a strong competitive advantage,” said Roger Murphy, CEO and president of Murphy Business & Financial Corporation. “Mason is hands-off and values the Murphy leadership team, yet offers great insight when asked, especially with strategic planning. Greybull’s investment in our company will allow us to remain well-funded as we pursue growth.”

Greybull Stewardship seeks to invest in companies that are market leaders with strong competitive advantages, and supports its investments with a source of capital that allows companies to maintain their uniqueness. In pursuit of Greybull’s mission to build a perfect home for its investments that is different from most private equity investors, it utilizes an evergreen fund structure that does not force its investments to be sold on a specific time frame.

“Roger Murphy has done an excellent job securing Murphy Business & Financial Corp. as the industry leader in business brokerage across the United States and Canada. His reputable organization is poised for ongoing growth, and Greybull Stewardship is excited to provide support for this unique organization as it continues to change the way business brokerage is conducted in North America,” Myers said.  “I am excited to follow Roger’s lead on how to strengthen Murphy Business’ leadership position in business brokerage.”

Murphy Business brokers have unsurpassed access to buyers and business sellers across North America. The company’s proven process and system provides clients with the means to achieve their goals through a more successful and confidential business transaction. Clients seeking business brokerage or valuation service enjoy a complete, thorough and professional experience with Murphy brokers.

Offering entrepreneurs both regional developer and franchisee operating models, the Murphy Business home office supports both groups and their agents with extensive training, along with initial and ongoing marketing efforts that leave Murphy Business owners to focus on the most import part of their business – growing it.

About Murphy Business & Financial Corporation

Clearwater, Florida-based Murphy Business & Financial Corporation is a full-service business brokerage firm facilitating business sales, purchases, consulting, valuations, mergers and acquisitions. Closing deals at a higher ratio than the business brokerage industry average, several accolades have been bestowed upon the company including appearing as one of the “Top New Franchises” in Entrepreneurs annual rankings (#9, #219 in the Entrepreneur “Franchise 500”), “Top 50 in Franchise Satisfaction” for 5 years running and as a “Top 50 Franchise” according to Franchise Business Review.

For more information on the franchise opportunity, contact Sandee Devine at franchisesales@murphybusiness.com, call 1-888-561-3243, or visit www.murphyfranchise.com.

About Greybull Stewardship

Mason Myers founded Greybull Stewardship in 2010 to build a portfolio of outstanding businesses and provide them a stable, long-term and supportive owner. The firm’s investors are business owners and operators themselves with experience in all areas of business management and leadership.  Greybull’s evergreen fund structure and flexible investment horizon is designed to align with the objectives of portfolio company co-owners and management, comprised of growing, profitable organizations in the lower middle market. For more information visit http://greybullstewardship.com.

 

 

 

$20 Million Evergreen Investment Fund Closes in January

Greybull Stewardship, L.P. closed in January 2014 on its $20 million round two investment fund. Since the fund’s January 2010 inception, annual returns have realized 23 percent after fees. As a result, existing Limited Partners (LPs) increased their commitments and new LPs were added for the second four-year cycle.earnings

This fund is industry agnostic, focusing instead on lower middle market companies with between $1 to $3 million in EBITDA. Other criteria for the investment fund include strong competitive advantages, recurring revenue and management teams that hold significant equity in the businesses and plan to remain in place after an investment.greybull_logo

“According to a Kauffman Foundation study, only 16 percent on the Inc. 500 list of the fastest growing private companies had venture capital backing, indicating there is a capital shortage in this sector,” said Mason Myers, general partner of Greybull Stewardship. “The companies in which we have invested to date have reached a tipping point. Our capital infusion supported by new governance structures gives management the tools to expand into their fast-growing middle markets.”

The fund’s evergreen structure is central to Myers’ strategy of realizing long-term, cash-on-cash returns with maximum flexibility for business owners. Evergreen investment funds have the flexibility to exit investments based on what is best for the business, rather than because of restrictions created by a fund’s limited life or other fund-specific limitations. Greybull Stewardship also focuses on generating returns by harvesting cash from annual profits through tax efficiencies in addition to the sale of investments. Such tax efficiencies are often well aligned with the objectives of portfolio company co-owners and management.

“I want founders and business owners to see Greybull Stewardship as an ideal co-owner of their growing, profitable company, just as Berkshire Hathaway is the buyer of choice for many great businesses that do not want to sell to an acquirer that will change things or a financial buyer that will sell the company a few short years later,” said Myers. “I have been a fan of Berkshire Hathaway philosophies ever since my high school years in Omaha, Nebraska. One of the lessons I took from Warren Buffett is to create a structure for Greybull Stewardship that makes this fund an investor preferred by the very best companies.”

Greybull Stewardship’s  growth portfolio includes:

  • StormSource Software, the developer of Appointment-Plus, the worldwide leader in mobile and online scheduling software.The Leader in Online Appointment Setting and Scheduling
  • Main Street Gourmet, a custom bakery specializing in custom foods such as cookies, muffins, brownies, granola, loaf cakes, toppings and desserts for grocery store bakeries and restaurants.MainStreetGourmet
  • ABC Sports Camps provides registration services for sport camps and events by offering complete online management, marketing and reporting tools.
  • Real Estate Institute and Bookmark Education offer continuing education for real estate, mortgage, insurance, and legal professionals.
  • Sites for Law Firms provides websites for law firms with built in marketing and self-editable content.

“Over the last three years, the company has grown from just a handful of employees to a current team of over sixty people. In that time we’ve grown revenue at a compound rate of over 35% per year and become the leading appointment scheduling software in a significant market. We look forward to our continued partnership with Mason and his investors as we continue to expand our services globally,” said Bob La Loggia, founder and CEO, Appointment Plus.

Greybull Stewardship exists to provide business owners an ideal co-owner and steward of their business and to earn attractive long-term, compounding, cash-on-cash returns for investors. Greybull’s evergreen fund structure and flexible investment horizon are designed to align with the objectives of portfolio company co-owners and management. The portfolio is comprised of growing, profitable organizations in the lower middle market with between $1 to $3 million in EBITDA.

Announcing Increased Investment in Appointment Plus — leading appointment scheduling software

Greybull Stewardship is excited to announce that we have invested more capital into Appointment Plus, the leading business automation software specializing in appointment scheduling. By doing so, Greybull Stewardship has increased its ownership percentage in a growing company that plays an important rolebest online appointment scheduling software in the success of over 8,000 businesses and organizations worldwide that use software for appointments of all kinds.

I am proud to be a partner with Bob La Loggia, founder and CEO, and the team at Appointment Plus.  Over the last three years, I have seen the company grow its revenue at a compound growth rate of over 35% per year and grow its team from a handful of people to a strong company of over 60 employees. Their innovative Software-as-a-Service (SaaS) has become the leading appointment scheduling software in a significant market. appointment plus leading scheduling software company

With business customers who range from Tesla and Jenny Craig to single massage therapists and dog groomers, Appointment-Plus has had a tremendous positive economic impact on businesses in 16 countries.  Appointment Plus helps automate the scheduling process for businesses and organizations that depend on accurate appointment scheduling — by letting their customers book appointments and reservations online — 16 million users, 8 thousand companies, 16 countries, 100 million appointments, $1 billion in customer revenue facilitated in a year.

Large and Growing Customer Base

Appointment-Plus was launched in 2001 and is the most flexible and feature-rich application on the market today. For over 10 years they have been an innovator in online appointment technology. Among their new features are drag-and-drop functions allowing customers to reschedule appointments in seconds and a new “booking” function for instant bookings from inside Facebook.

Appointment-Plus success has been recently recognized by Inc magazine’s list of fastest growing private companies and by Phoenix (AZ) Business Journal’s recognition as one of the Valley of the Sun’s top software firms along with a recognition of Bob La Loggia as a tech titan.

Bob said, “Greybull Stewardship has played a pivotal role in the success of Appointment-Plus. We look forward to our continued partnership with Mason and his investors as we continue to expand our services globally.”

With industry verticals that range from automotive and logistics to colleges and healthcare, Appointment-Plus multiplies positive impacts as over 16 million people use their software for self-booking and mobile reservations around the world.

Greybull Stewardship Acquires Real Estate Institute

Greybull Stewardship, a unique, long-term oriented partnership of business owners investing in exceptional small businesses, announces the acquisition of Real Estate Institute and its sister company, Bookmark Education.  Both companies are headquartered in Niles, IL, which neighbors Chicago.  Terms of the acquisition were not disclosed.Illinois Real Estate Licensing Courses

Since 1992, Real Estate Institute has been a leader in Illinois providing high quality online, classroom, and independent study programs for professional licensees.  Known for outstanding customer service, the company’s positive reputation with loyal students has enabled growth beyond its real estate roots to include insurance, mortgage, and legal professionals.  Last year more than 20,000 professionals completed programs with the school.

After directing the company’s operations for nearly ten years, Larry Toban will become the Real Estate Institute President as part of a planned management transition.  Larry helped to select Greybull Stewardship from nearly a dozen firms that competed for the opportunity to invest with him in the company’s growth.  “This is a game changer for the organization.  We are excited to work with Greybull as we expand our expert team of employees and instructors who are all passionate about fulfilling our students’ education and compliance requirements,” said Larry Toban.

“I’m delighted that Greybull Stewardship understands the core strengths and potential of our business.  With Greybull’s investment, support, and long-term investment approach, I’m confident that Real Estate Institute and its employees will continue to prosper,” added Alan Toban, founder.  Former owners Alan and Ellen Toban will assist Greybull Stewardship throughout the transition.

“Real Estate Institute is an exciting acquisition for Greybull Stewardship.  The company is a leader in its space and poised for continued growth in the ever-expanding education market,” said Mason Myers, founder and general partner of Greybull Stewardship.  “We see exciting opportunities to offer new and more diversified programs.”

100 Million Appointments Scheduled by Appointment Plus

Appointment-Plus, the worldwide leader in mobile and online scheduling software, is proud to announce that 100 million appointments have been scheduled through its scheduling software system.

Booking these appointments were small and medium-sized businesses, Fortune 500 companies, corporations, colleges and universities, medical practices and healthcare facilities, government agencies and other organizations and their customers, patients and students in 16 countries worldwide. These businesses and organizations rely on Appointment-Plus for improving, automating and simplifying the appointment-booking process, which results in more efficient operations, more scheduled appointments and more customers.

Appointment-Plus reached the impressive milestone earlier this month. The online scheduling software provider now books an average of over 3 million appointments monthly, which equates to more than one appointment scheduled per second.

“This is a tremendous milestone for our company and clearly illustrates the important role Appointment-Plus scheduling software plays in the day-to-day operations of thousands of businesses and organizations throughout the world,” says Bob La Loggia, CEO of Appointment-Plus. “Whether you’re a small business owner looking to automate your appointment-scheduling or a Fortune 500 company looking to streamline the booking process over multiple locations, Appointment-Plus is the number-one solution for your scheduling needs.”

Appointment Plus Releases Excellent Mobile Scheduling Apps

Manage your Appointment Schedule with an excellent Mobile Scheduling App

Mobile Scheduling Apps from Appointment Plus

Appointment Plus, a portfolio company of my investment partnership, released their latest native appointment scheduling apps for iPhone, iPad and Android and they are awesome.  The apps enable organizations to manage their customer appointment schedules while they are on-the-move:  open up appointments, cancel appointments, change appointments, enter customer data, view the schedule, and more.  The apps are fast, sharp, and easy to use.

Best Mobile Apps

The response has been excellent with hundreds of new customers signing up for Appointment Plus every day.  Appointment Plus is the clear leader in online appointment scheduling with many thousands of clients, millions of appointments booked each month, and more integrations with key software in the marketplace (Quickbooks, many calendars, many email marketing companies, etc.).  We imagine that most business owners will manage their business through their mobile devices rather than through a desktop in the future.  Appointment Plus has made this easy.

In the future of mobile appointment scheduling, Appointment Plus is developing apps with a “customer view” scheduling application for Apple and Android as well, which will further simplify the scheduling process for its clients’ customers, patients and students.

Congratulations to Appointment Plus, National Holistic Institute, & Main Street Gourmet for Recent Awards

This post originally appeared in the Mason Myers Blog:

The last week has been a big one for awards at companies affiliated with my investment partnership, Greybull Stewardship.  We are focused on investing in existing businesses with $1 to $3 million in net income that want a stable co-owner (minority or majority equity positions) that enables the company to pursue its own unique growth plan.  Our fund will not force the company into particular growth plans or exit plans as most funds require.

Congratulations to the following people on some recent awards:

Appointment-PlusAppointment-Plus CEO Bob LaLoggia named Business Leader of the Year

Bob LaLoggia, the CEO of Appointment Plus, was named the Business Leader of the Year by the Arizona Governor for the Celebration of Innovation Award Event.  Appointment Plus is the leader in online appointment scheduling software for any industry and any size business.  The number of appointments booked through Appointment Plus every day is getting to be unbelievably huge.  This award will be presented in December.

National Holistic InstituteNational Holistic Institute Employee Named Financial Aid Professional of the Year for California

Pat Troxel, Director of Compliance for the National Holistic Institute, was named the Financial Aid Professional of the Year for California.  The National Holistic Institute is the best massage therapy school in the country and has 7 locations in California.  This award will be presented in October.

Main Street GourmetMain Street Gourmet co-CEO Steven Marks receives Business Leader of the Year Award from Chamber of Commerce

Earlier in the year, Steven Marks, co-CEO of Main Street Gourmet, received the Business Leader of the Year award from the Greater Akron Chamber of Commerce.  Main Street Gourmet develops custom, signature bakery items for restaurant and grocery companies.

It is fun to work with great people — congratulations to these people on their recent awards!

Mason Myers Blog Begins – Share What You Want to Learn

Today, I launched the Mason Myers Blog here with the post below.

“Teach what you want to learn” is a phrase that I like. For me, it captures the idea that teaching or sharing something with others helps the ideas sink into your own mind. It is with that thought that I am beginning the Mason Myers Blog.

I hope that you gain some nuggets that help you in your business, but I am also hoping that it helps me clarify my thinking and deepen my understanding of things as I write about them. Please share your insights, give me feedback, and help me improve as we embark on this journey together. For that, thank you in advance!

Mason Myers