Friday, January 9, 2015

WTF Jim Melvin, Jon Bell, Mark Brazil, Kevin Carter, Pat Danahey, Don Flow, Kelly King, Nido Qubein, Tim Rice, Kelly Stanhope and Robert Long?

"It may take a while to accurately judge David Powell's tenure as president of the Piedmont Triad Partnership.

...We know the Powell years, beginning in 2011, marked the end of PTP as a vessel for marketing the Triad regionally.

...He was less visible to the media and the public in general, and seemed from the beginning to reject the requirement that PTP market and represent such a large area, with so many seemingly conflicting needs among the various cities and counties.

...Instead, Powell — with the blessings and funding of several top Triad executives including BB&T's Kelly King and former Greensboro mayor and banker Jim Melvin — bet big on two concepts: developing a megasite to attract what Powell called a "catalytic" project, like an automobile plant; and creating a group called Triad First Capital. TFC's mission is described as raising money and using it to "seed and nurture a new generation of entrepreneurial leaders in the Triad region."

...As 2014 came to a close, Powell — working closely with Melvin and Greensboro real estate broker Sam Simpson — had success in piecing together options for about 1,350 acres in the Liberty area of Randolph County.

...TFC, under Powell's guidance, has also to-date been relatively quiet."
"Triad First Capital

Investment Objective

At TFC, we seek to achieve financial returns for members through private investments in select businesses and real estate assets that we expect will benefit the Piedmont Triad region of North Carolina.

Our Guiding Principles

Be collaborative investors who seek risk-adjusted investment returns.

Assist entrepreneurs in growing or transitioning their businesses...

Investment Opportunities

We will generate the following investment opportunities for our members on a regular basis:

Early stage companies seeking seed capital to start operations in the Triad.

Local companies seeking growth capital to expand operations in the Triad.

Established companies currently not located in the Triad seeking growth capital to expand operations in the region.

Local companies considering a transition of ownership to a new generation who intend to maintain the company’s Triad presence.

Triad companies seeking to optimize their capital structures by the use of sale-and-leaseback real property arrangements.

Principled Investment Approach

At TFC, our management team believes that a principled investment approach, combined with a disciplined investment process, will yield the best outcomes for our members and the Triad.

Investment Strategy

We aim to become a strategic partner with a company by providing flexible capital and expertise to grow revenue, facilitate ownership transitions and enhance profitability. We will also seek opportunities to acquire properties at attractive prices in order to enhance value through capital investment and proactive operation.

Disciplined Investment Process

The key stages of a disciplined, focused investment process include:

1. Optimized Deal Flow Sourcing Approach

Our management team and members have developed numerous, deep relationships with business owners and their advisors throughout the Triad that will prove invaluable to the sourcing process.
Moreover, because we are addressing an underserved niche with a combined private equity and real estate focus, our management team is confident that we will become a primary option for referral sources, which will lead to a multitude of high-quality investment opportunities.

2. Suitable Due Diligence and Effective Transaction Structuring Process

In conducting due diligence, our management team focuses on these six key questions:

Can the management team effectively partner with the company’s management, or the property owner and tenants?

Does the investment meet TFC’s return thresholds, based on a conservative financial model?

Does the transaction structure and specific investment instrument best mitigate downside risk?

Do all investment partners in the transaction share the same exit time horizon or, if not, are there mechanisms for addressing any differences?

Have specific value-added strategies been identified along with a detailed execution plan for “high impact” actions post-investment?

Will the investment have a positive impact on the Triad?

If an investment opportunity does not present an affirmative answer to each of these questions, the investment will typically not pass due diligence, absent other compelling factors.

3. Identifying Value-Added Strategies for Growth Post-Investment

Before any investment is made, we will seek to foster a solid working relationship with a company by getting to know the leadership team. During due diligence, we will work with management to identify value-added strategies and define key success metrics. Post-investment, we will partner with the company to implement agreed upon changes and monitor performance using a disciplined, metrics-driven approach.

4. Flexible Horizon for Investment Exit

Our management team will work with portfolio companies to establish best practices related to the maintenance of financial and other books and records, such that any company will be ready on short notice to respond to outside acquisition or partnership inquiries. In addition, we will partner with company management to continually monitor industry and competitor activity in order to remain abreast of changing trends and opportunities, seeking to optimize exit timing and, thus, the return on investment."
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Piedmont Triad Partnership
TFC’s Board of Advisors (the “Board”) provides guidance and support to
the management team on such matters as deal sourcing, due diligence,
deal structuring, exit strategies, and other material issues. In addition,
the Board is designed to help portfolio companies build great teams,
land important customers, and execute successful growth strategies. The
Board includes local entrepreneurs and executives capable of identifying
and evaluating unique investment opportunities in the Triad, who have
extensive networks within the business, banking, transaction service
provider, investment, entrepreneurial, private equity, and venture capital
communities in the area, throughout North Carolina, and even nationally.

The membership dues paid by a member to TFC are to compensate
TFC for establishing and managing the TFC network of investors and
facilitating their access to companies seeking investor financing by
pre-screening entrepreneurs and companies, preparing analysis and
due diligence reports relative to pre-screened opportunities, holding
meetings in which members may interview prospective companies and
entrepreneurs in a forum setting, providing entrepreneurial support
services, holding educational and networking events, and providing
educational materials to enhance members’ understanding of investing
in privately held companies. Membership in TFC provides a member a
right, but not the obligation, to invest on a deal-by-deal basis.

Corporate Membership: Annual membership dues for corporations are
provided as a charitable contribution to PTP.
Individual Membership: The annual membership dues for individuals
are $500.

Membership dues are non-refundable in the event of any cancellation
or resignation by the member or any revocation or termination of this
Membership Agreement by TFC.

TFC will establish a separate limited liability company (“LLC”) for each
specific investment made by TFC members. Each LLC will be managed
by TFC. An investing TFC member will become an LLC member of the
LLC in which the TFC member determines to make an investment. Since
TFC members have the flexibility to determine how much they invest in
a particular investment opportunity, or have the right not to invest, each
LLC will have a unique set of members and will be governed by a unique
operating agreement.

TFC may be compensated for its management activities through
initial and/or annual fees assessed to an LLC established for a specific
investment opportunity. The fee structure, which may vary from LLC
to LLC, will be established and disclosed to the members prior to their
making an investment decision for that LLC.

TFC members have the right to participate in or receive the following:

1. Periodic investor meetings with presentations from pre-screened
companies or individual entrepreneurs for members’ investment
consideration, with follow-up time for discussion, including members’
observations and analysis.

2. Opportunity to lead or participate in due diligence teams for
investments being considered by TFC.

3. Access to information, analysis and due diligence reports from
TFC regarding prospective companies to assist members with their
due diligence.

Any individual member or any principal or officer of a corporate
member participating in TFC investor meetings must certify
the following:

1. The member is an “accredited investor” as defined in Rule 501 of
Regulation D under the Securities Act of 1933, as amended (the
“Securities Act”), which is defined in Rule 501 as:

a. Any natural person whose individual net worth, or joint net worth with
that person’s spouse, exceeds $1,000,000 (for purposes of calculating
a person’s individual net worth, assets do not include the person’s
primary residence, and liabilities do not include indebtedness
secured by the person’s primary residence except to the extent it
exceeds the estimated fair market value of the primary residence); or

b. Any natural person who had an individual income in excess of
$200,000 in each of the two most recent years or joint income
with that person’s spouse in excess of $300,000 in each of those
years and has a reasonable expectation of reaching the same
income level in the current year.

2. The member possesses such knowledge and experience in financial
and business matters to be capable of evaluating the relative merits
and risks of any investment, and such member is able to sustain a loss
of the entire amount of any investment made through TFC.

3. The member understands that TFC makes no warranties or
representations as to whether its members are accredited investors
within the meaning of the Securities Act. All TFC members should
seek professional advice prior to accepting any investment to ensure
that the investment complies with the Securities Act.

...5. The member understands that TFC is not a venture fund, investment
company, investment bank, broker-dealer, investment clearinghouse,
investment portal, or any other form of investment advisor or
otherwise, but rather a forum through which investors may be
educated on aspects of investment and business, as well as introduced
to companies for possible investment. Accordingly, such member
acknowledges that TFC is not an investment company, investment
advisor, or broker-dealer and is not registered as such under federal
or state securities laws.

...11. The member understands that investments are high risk, and that
an entire loss of the investment made by such member is possible.
Furthermore, such member understands that follow-on investments
in each deal are possible.

Any individual member or any principal or officer of a corporate
member participating in TFC investor meetings must adhere to the
following code of conduct.

...2. The member shall respect the privacy of other members and not
provide their names to any third party without their permission.

3. The member shall keep membership information confidential.