Strongpoint Partners and Shore Capital Partners | October 20, 2022 | Read time : 05:00 min
Strongpoint Partners, a tech-enabled financial services platform focused on third-party administration of retirement plans, recordkeeping, payroll, and HR solutions for SMBs, today announced the Company’s launch.
Backed by Shore Capital Partners, a Chicago-based private equity firm focused on microcap investing, Strongpoint combines an integrated software platform for outsourced retirement services alongside a relentless passion for service and innovation. Together, Strongpoint and Shore will continue to explore opportunities for growth through new partnerships and business development, and will continue to invest in the Company’s products and infrastructure.
Strongpoint partnered with HowardSimon, a leading independent retirement TPA and payroll services provider based in Riverwoods, Illinois, in December 2021. In addition, Strongpoint recently partnered with the Jocelyn family of companies (Investment Management and Pension Consulting) to expand its services to Boulder, Colorado and Northern California.
Strongpoint is launching with an experienced management team that includes Danny Hest, former CEO of Roadpass Digital and senior leader at Orbitz Worldwide and Expedia Group, who will serve as the Company’s CEO, and Sean Morris, a seasoned financial executive, who will serve as CFO.
Hest has over 20 years of experience leading business development, sales, marketing, strategic planning and operations. In his nearly 10 years at Orbitz Worldwide and Expedia Group, he led rapid growth of their B2B distribution business units, primarily through organic partnerships, sales, marketing and product development. Most recently, Hest served as CEO of Roadpass Digital, a road-based travel technology company with several consumer-focused brands that it has both acquired and developed organically.
“I’m thrilled to serve as CEO of Strongpoint and join a great team as we aim to build the leading retirement and payroll services provider across the United States, As we explore opportunities for organic growth and acquisitions, we remain fully committed to our company’s core mission to provide the highest quality services for our customers while pursuing a relentless passion for innovation.”
- Danny Hest
Morris has over 16 years of experience leading finance, accounting, operations and M&A teams. He has worked at several fast-paced financial services and investment firms, including Citadel, Northern Trust and, most recently, PEAK6 Investments, where he led a finance team of 60 employees.
Mickey Jiang, Principal at Shore Capital, reflected, It’s tremendously exciting to partner with Danny, Sean, our Board, and our founders to establish the premier network of retirement TPAs. We have a deep conviction in these leaders to expertly execute on our collective vision of growth and unwavering service quality. I am certain that this talented team will enhance, empower, and elevate every new administrator affiliation in our burgeoning network.
Hest and other members of the Strongpoint Partners executive team will be attending the ASPPA TPA Growth Summit next week in Washington, D.C., and the Spark Forum in November in Palm Beach, Florida.
About Strongpoint Partners
Strongpoint Partners is a tech-enabled financial services platform that provides third party retirement administration (“TPA”), payroll, HR, and recordkeeping to small-and-medium businesses (“SMB”). Headquartered in Chicago, Illinois, with offices in Riverwoods, Illinois, Boulder, Colorado, and Northern California, Strongpoint combines an integrated software platform for outsourced retirement and payroll services alongside a relentless passion for service and innovation.
About Shore Capital Partners
Shore Capital Partners, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services and Real Estate industries. Shore supports management partners with capital, business development expertise and industry knowledge to accelerate growth, fund acquisitions and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow and significant growth potential, including organic growth and growth through industry consolidation. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles.