Formed in May 2016, Technology Solutions Inc (TSI) is a holding company within the Simon Group Holdings Network. TSI is dedicated to the management and growth of companies providing reliable telecommunications and infrastructure solutions throughout the United States. It is a cable fulfillment company with direct employees and independent contractor technicians who work on cable systems for home and commercial subscribers. In other words, if your cable goes out, your provider contacts a company like Technology Solutions, and it dispatches a technician to your home or business to fix the problem.
Prior to its acquisition by SGH, TIKOO (as the company was previously known) had mainly done fulfillment, but was bound by regulations that limited its efficiencies and profitability. The business was brought to SGH by two partners who wanted to run the company and who were looking for equity partners with the ability to finance the acquisition.
The partners found SGH through an investment banker and immediately liked the supportive family attitude of SGH and the flexibility Sam Simon, Founder and Chairman of SGH and his team offered. They were also impressed by SGH’s strong operational background and standard practice of investing its own capital into every acquisition. The partners had game-changing ideas in the category. But the company needed new management to truly realize its potential and was in serious need of back-office support to grow. What they needed was a strategic business partner like SGH.
There were caveats of course; SGH’s team could see that the company was not run well, but had great growth potential. Their management team had a good relationship with Charter Communications and had a vision for doing Internet inside multi-family homes. But their training processes were inadequate and efficiencies were needed to improve operations and maximize profit potential.
Mike Evans, Senior Managing Partner at SGH, spearheaded SGH’s efforts to change the management team, streamline costs and operations and bring the company to profitability.
SGH’s plan for success meant:
- Right-sizing the business
- Getting back to its core business strengths
- Installing new management that was strong in wireless
- Redefining and expanding geographic footprint
- Streamlining the billing process using hand-held devices
- Incentivizing employees based on high customer net promotor scores
- Hiring strong managers who were followed by experienced technicians
Always seeking additional sources of income
The SGH management team has built a solid infrastructure for growth. The world has a constant need for more power, bandwidth and speed, and Technology Solutions is now positioned to grow as a result of those needs. This will help us take advantage of partnerships to come with providers and allow us to offer other profitable services such as:
- Power work
- Increased commercial installations and repair
- Construction (laying new fiber-optic cables)
SGH… the right investment partner
The acquisition and partnership with Technology Solutions is a perfect example of how SGH provides vision, decisive action and cross-discipline thinking to investors and the companies it acquires. It fulfills the SGH philosophy of identifying the right people to work with, putting everything you have into making it work and delivering results and a successful outcome.
AREAS OF EXPERTISE