Company News

ROYAL EXCURSION EXPANSION CONTINUES WITH ADD-ON
-Acquisition of NE Indiana Motorcoach Operator Excursions Trailways Significantly Expands Geographic Footprint-
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ROYAL EXCURSION EXPANSION CONTINUES WITH ADD-ON
-Acquisition of NE Indiana Motorcoach Operator Excursions Trailways Significantly Expands Geographic Footprint-

South Bend, IN – Jan. 5, 2018 – Royal Excursion has acquired Excursions Trailways, a Ft. Wayne, IN-based premium charter bus company. The transaction closed on Jan. 4, 2018. Terms of the deal were not released.

With the closing, Royal Excursion, a leading charter bus and luxury transportation provider in Northern Indiana and serving the greater Midwest, is pleased to announce its customer reach has grown considerably. Excursions Trailways travels throughout the United States and Canada from its locations in Ft. Wayne, IN and Ottawa, Ohio.

“Our mission has always been to offer a diverse selection of quality ground transportation, the highest level of safety, customer service, reliability, flexibility, honesty, and of course, tremendous value,” said owner and President Shannon Kaser. “With this transaction, our company now serves valued customers across Northern Indiana and Ohio, and we will be adding to our corps of professional drivers with new job openings.”

Founded in 2000 by Thomas Bazow and Pat O’Brian, two full-time teachers, Excursions Trailways has grown into a fleet of 20 buses from a single bus. The company serves corporate and group outings. Customers include semi-pro, collegiate and high-school athletic teams, church groups, students and family-focused groups. Excursions Trailways is also proudly certified by the United States Department of Defense and authorized to carry the men and women serving in the U.S. military, a distinction held by fewer than 10 percent of the motorcoach companies nationally.

“We started our company more than 17 years ago with the goal of being the most reliable and well-run bus company in the industry,” says Bazow, Excursions Trailways’ chief executive officer. “That focus continues and will carry on as we join Royal Excursion.”

Plans for Excursions Trailways include a gradual and full integration with Royal Excursion operations. All 64 employees of Excursions Trailways are expected to remain with the company, and additional hires are planned for the near future. Furthermore, both Bazow and O’Brian will stay onboard in executive positions.

“Tom and Pat have built an impressive company from the ground up,” says Ben Norris, managing partner of NEP, an equity sponsor of Royal Excursion. “Their business’ commitment to customer safety, satisfaction and service fits perfectly with the model and operations that Shannon has also created from scratch with Royal Excursion.”

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ABOUT ROYAL EXCURSION Founded in 1998 by Shannon Kaser, Royal Excursion is a locally owned and operated motorcoach company from South Bend, IN. The business proudly serves the United States and Canada from locations in Indiana and Ohio, boasting a fleet of more than 80 vehicles and more than 200 employees. Further information is available at: www.royalexcursion.com.

ABOUT EXCURSIONS TRAILWAYS Founded in 2000, Excursions Trailways is based in Ft. Wayne, IN and Ottawa, Ohio. The company operates nationally and in Canada. The business’ 15 motorcoaches, one minicoach and four school buses are driven by uniformed professionals trained in the Smith System. Excursions Trailways was created by Thomas Bazow and Pat O’Brian.

ABOUT NORRIS EQUITY PARTNERS Norris Equity Partners (NEP) is a regionally-focused private equity firm based in the Midwestern U.S. The firm provides liquidity and capital solutions for small- to mid-sized businesses while offering portfolio diversification for investors. NEP’s value creation expertise includes partnering with strong management teams, market knowledge and deep industry relationships. While sector-agnostic, NEP has expertise in the distribution, manufacturing, service and finance industries. Further information is available at www.NorrisEquityPartners.com.

Contact: Marc Raybin Cardinal Communications Strategies, Inc.
(646) 232-3658
Marc@CardinalCommunicationsStrategies.com
NORRIS EQUITY PARTNERS ACQUIRES SSI GROUP
-Company to be rebranded as Receive with plans for significant expansion-
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NORRIS EQUITY PARTNERS ACQUIRES SSI GROUP
-Company to be rebranded as Receive with plans for significant expansion- South Bend, IN – Feb. 24, 2017 – Norris Equity Partners (“NEP”), a private equity firm focused on the smaller end of the middle market, announced today the acquisition of accounts receivable management company SSI Group, Inc. by NEP-managed funds. Terms of the transaction were not disclosed.

As part of the acquisition process, SSI Group is executing a complete rebrand of the company that includes a new name revision to Receive, as well as a new company logo. These changes reflect the positive steps the company is taking as it continues on its path of growth.

Receive is a regional leader in the professional collections segment. Founded in 1999, the company is headquartered in South Bend, IN and serves the full suite of medical, real estate and automotive clients throughout Northern Indiana. Receive’s expertise in providing best-in-class solutions for the accounts receivable recovery market combined with its commitment to a consumer-friendly approach have proven to yield substantial results and positive outcomes for all parties.

“Receive is well-positioned for organic growth,” said Ben Norris, managing partner of NEP. “We are honored to partner with such a respected and professional business that takes care and exhibits such a high degree of thoughtfulness when engaging with consumers. We expect growth to accelerate as NEP harnesses its vast network to bring Receive to more providers in the market.“

Plans for the new company include a multi-pronged expansion strategy. In addition to the company rebrand, the business plans to hire new employees within the first half of 2017 as well as expand into new business segments, such as business collections and total revenue cycle markets. Members of the senior management team will remain with the company and continue to run the day-to-day operations of this growing business.

“NEP has been a great partner throughout this acquisition process and the tenured team at Receive is excited for the growth of the company’s operations under the leadership of NEP,” said Wayne Pecina former president of Receive. “The sale to NEP allows the former ownership team to focus on our core strengths while at the same time expand into other key market segments.”

NEP announced the closing of its inaugural fund Norris Equity Partners Fund I, LLC. in January 2016. Since then, the firm has completed four transactions and named Tricia Leonard Mentock a director. With NEP’s continued oversight and operational expertise, the firm’s expanding portfolio is well positioned for growth.

ABOUT RECEIVE
Originally founded as SSI Group, Inc., Receive is a professional collections agency that serves the medical, real estate and automotive segments. The company is headquartered in South Bend, IN and was founded 1999. Receive is an industry leader with a reputation for providing best-in-class service to both clients and consumers to yield significant results for all parties.

ABOUT NORRIS EQUITY PARTNERS
Founded by Benjamin C. Norris in 2015, Norris Equity Partners (NEP) is a regionally-focused private equity firm based in the Midwestern U.S. The firm provides liquidity and capital solutions for small- to mid-sized businesses while offering portfolio diversification for investors. NEP’s value creation expertise includes partnering with strong management teams, market knowledge and deep industry relationships. While sector-agnostic, NEP has expertise in the distribution, manufacturing, service and finance industries. With more than $5.5 million in assets under management, NEP’s typical deal size ranges from $250,000 to $5.0 million. Further information is available at www.NorrisEquityPartners.com.

### Contact:
Marc Raybin
Cardinal Communications Strategies, Inc.
(646) 232-3658
Marc@CardinalCommunicationsStrategies.com
TRICIA LEONARD MENTOCK JOINS R&R BENEFITS/RISK MANAGEMENT LLC AS PARTNER & PRESIDENT OF NEWLY FORMED PROPERTY & CASUALTY DIVISION
-Insurance Executive Will Execute Company Rebrand and Join NEP as a Director-
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TRICIA LEONARD MENTOCK JOINS R&R BENEFITS/RISK MANAGEMENT LLC AS PARTNER & PRESIDENT OF NEWLY FORMED PROPERTY & CASUALTY DIVISION
-Insurance Executive Will Execute Company Rebrand and Join NEP as a Director-

South Bend, IN – Feb. 21, 2017 –R&R Benefits Risk Management (“R&R”), a full-service insurance brokerage and Norris Equity Partners (“NEP”), a private equity firm focused on small- to mid-sized businesses, have named Tricia Mentock President and Partner of R&R’s property and casualty division and Operating Partner for NEP.

In her new role with R&R, Ms. Mentock will manage the company’s property and casualty business as well as oversee the previously planned rebrand. With NEP, which invested in R&R last year, she will leverage her multifaceted business, financial and risk management acumen as part of the firm’s overall investment decision-making process and operational expertise for portfolio companies.

Ms. Mentock joins the R&R/NEP partnership with over 30 years of insurance and risk management experience. Most recently, she was a Partner at Cassady Neeser & Brasseur, where she spent the last 24 years, and member of The Horton Group after the two merged in 2012. Throughout her career, Ms. Mentock has built a stellar reputation as an experienced insurance professional specializing in the total cost of risk in construction and manufacturing. She is regarded as one of top performers within the commercial real estate insurance sector throughout Northern Indiana and Southern Michigan.

“I am very excited to work with Troy Scott, R&R’s chief executive officer and Ben Norris, NEP’s managing member, in this newly created position,” said Ms. Mentock. “I look forward to applying my entrepreneurial spirit and experience as both a business owner and insurance professional in helping R&R clients, while at the same time playing a significant role in the growth and development of the NEP overall portfolio.”

With R&R, Ms. Mentock enhances the company’s property and casualty expertise. She will be responsible for business development, client management and day-to-day operations of the division. R&R is a full-service insurance brokerage offering companies and governmental organizations insurance, employee benefits package, claims analysis and improvements. Ms. Mentock will also be responsible for completing the business’ previously planned rebranding, which will be announced shortly according to schedule.

“This is a transformative time for R&R,” said Mr. Scott. “Tricia brings a unique skill set that includes risk management, claims and safety that will substantially diversify our insurance offerings while at the same time deepen our relationships with Michiana customers.”

As an NEP Operating Partner, Ms. Mentock will focus on applying best practices toward investment opportunity due diligence, portfolio company oversight and fund management, amongst other responsibilities.

“Adding Tricia as an NEP Operating Partner greatly enhances our firm’s investment acumen and operational know-how,” said Mr. Norris. “We are extremely fortunate to add her extensive expertise and talent to our team.” Ms. Mentock is also a Certified Workers’ Compensation Professional, a designation she earned from Michigan State University. She is a former board member for Junior Achievement Michiana, organizer for the Humane Society and was part of the Dream Team Mentor Program.

NEP recently announced the closing of its inaugural fund Norris Equity Partners Fund I, LLC. The fund invested capital in R&R in January 2016. With NEP’s continued oversight and support, R&R has experienced growth and operational improvements.

ABOUT NORRIS EQUITY PARTNERS
Founded by Benjamin C. Norris in 2015, Norris Equity Partners (NEP) is a regionally-focused private equity firm based in the Midwestern U.S. The firm provides liquidity and capital solutions for small- to mid-sized businesses while offering portfolio diversification for investors. NEP’s value creation expertise includes partnering with strong management teams, market knowledge and deep industry relationships. While sector-agnostic, NEP has expertise in the distribution, manufacturing, service and finance industries. With approximately $5.7 million in assets under management, NEP’s typical deal size ranges from $250,000 to $5.0 million. Further information is available at www.NorrisEquityPartners.com.

ABOUT R & R BENEFITS RISK MANAGEMENT LLC
R&R Benefits Risk Management LLC is a full-service insurance brokerage offering companies and governmental organizations insurance, employee benefits package and claims analysis and improvements. R&R Benefits (founded in 2000) proactively assesses client needs and provides risk management solutions while reducing premiums. Further information is available at www.randrbenefits.com.

Contact:
Marc Raybin
Cardinal Communications Strategies, Inc.
(646) 232-3658
Marc@CardinalCommunicationsStrategies.com
NEP ANNOUNCES PARTNERSHIP WITH STRATEGIC ATHLETE INITIATIVES LLC
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South Bend, IN – December 20, 2016 – Strategic Athlete Initiatives LLC (SAI) is a full-service boutique sports, entertainment, and media-representation agency located next to the University of Notre Dame* and in the heart of Big Ten country. SAI’s target region also includes the highly competitive Mid-American Conference (MAC). In today's sports landscape, amateur and professional athletes deserve a full range of services from their sports agent and athlete-representation firms. By leveraging its business relationships and expertise in corporate finance and private equity, SAI provides clients with comprehensive resources to help clients better negotiate their contracts, manage their finances, and protect their brands. SAI is comprised of dedicated, experienced, and highly trained professionals that provide expertise and guidance essential for launching and maintaining both the successful sports careers of its clients, as well as, their post-retirement careers.

SAI was founded by Michael A. Stockrahm, Chairman of SAI and Benjamin C. Norris, Managing Member of Norris Equity Partners (NEP). Both saw an opportunity to combine Stockrahm’s decades of professional financial consulting experience with Norris’ depth of corporate relationships to create a sports agency uniquely positioned to provide clients with committed and personalized representation.

“It is gratifying to see the SAI model endorsed by NEP with this new investment and partnership,” said Michael A. Stockrahm, President. “SAI will now be able to accelerate its growth by tapping NEP’s resources to provide its clients’ responsive representation, expert negotiation, and post-retirement career placement options. Academic institutions and professional sports employers will also appreciate its focus on ethics, transparency, and compliance.”

Norris Equity Partners (NEP), founded by Benjamin C. Norris, is a regionally focused private equity firm headquartered in South Bend, Indiana. NEP’s exposure to a wide array of businesses in the Midwestern United States provides SAI’s clients with an expansive network to utilize as a resource for marketing and branding, as well as post-retirement career opportunities.

“NEP is pleased to partner with Mike and his team at SAI,” said Benjamin C. Norris, Managing Member, NEP. “We think his model of balancing clients’ sports careers with their personal financial management and post-retirement career options is a compelling offering to prospective clients and their families. We also expect other stakeholders and employers to respond to the ethically transparent approach at SAI.”

SAI currently offers multi-faceted services to athletes competing in baseball, basketball, football, hockey and golf. Additionally, SAI has developed a full boutique of services for individuals pursuing careers in the entertainment industry. SAI also offers unique opportunities for clients off the field, in areas including licensing, endorsements, speaking engagements, philanthropy, and media.

Contact:
For Strategic Athlete Initiatives, LLC:
Michael A. Stockrahm
(574) 807-2403 | stockrahm@comcast.net

For Norris Equity Partners:
Benjamin C. Norris
(574) 968-3664 | ben@norrisequitypartners.com
www.norrisequitypartners.com

*no affiliation to the University of Notre Dame
NORRIS EQUITY PARTNERS CLOSES INAUGURAL FUND ON $5.7 MILLION
NORRIS EQUITY PARTNERS CLOSES INAUGURAL FUND ON $5.7 MILLION
-Firm announces two deal closings from new investment vehicle-


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South Bend, IN – July 25, 2016 – Norris Equity Partners (NEP), a private equity firm focused on small- to mid-sized businesses, today announced the closing of Norris Equity Partners Fund I, LLC on approximately $5.7 million in capital commitments.

NEP initiated capital raising in January of this year and held the first and only close on the investment vehicle only five months later in June. Investors in the new fund include a mix of family offices, trusts and high-net-worth individuals. Total commitments to Fund I were well ahead of plan.

“We are grateful for the confidence shown by our investors,” said Benjamin C. Norris, NEP’s managing member. “Their show of faith affirms our investment model and allows us to capitalize on above plan deal pipeline.”

Fund I will follow the firm’s strategy of making risk-adjusted investments in companies that are typically already cash flow positive, but can grow and unlock previously unrealized revenues as a result of partnering with NEP. The firm’s flexible capital structure allows for transaction sizes of between $250,000 and $5.0 million.

“We engage in friendly negotiated transactions and typically partner with existing management teams to improve ongoing business strategy,” said Mr. Norris.

While considering all types of businesses, NEP targets four sectors in which the firm has particular experience, including Distribution, Manufacturing, Service and Finance.

The firm has already closed on two transactions from the new fund. Financial terms were not disclosed for either.

Fund I invested capital in R & R Benefits Risk Management LLC, a full-service insurance brokerage offering companies and governmental organizations insurance, employee benefits package, claims analysis and improvements, in late January.

“We are excited to partner with NEP as we work together to increase value at R & R,” said Chief Executive Officer Troy Scott. “With NEP’s oversight and support, we are driving organic growth and improving our internal functions.”

Fund I also invested in Royal Excursion, a leading charter bus and luxury transportation provider in Northern Indiana serving the greater Midwest. Royal Excursion is known for the high quality and selection of its fleet and a steadfast focus on safety and reliability. This transaction closed July 1.

“Our management team will work closely with NEP to drive value and accelerate growth at Royal Excursion,” said owner and President Shannon Kaser. “NEP will leverage the firm’s expertise to help source and execute growth opportunities; organically and through add-on deals, facilitate cooperation with key vendors and suppliers while also providing budgetary and financial support.”

With an active and robust deal pipeline, NEP expects to make additional transaction announcements in the near term.

ABOUT NORRIS EQUITY PARTNERS
Founded by Benjamin C. Norris in 2015, Norris Equity Partners (NEP) is a regionally-focused private equity firm based in the Midwestern U.S. The firm provides liquidity and capital solutions for small- to mid-sized businesses while offering portfolio diversification for investors. NEP’s value creation expertise includes partnering with strong management teams, market knowledge and deep industry relationships. While sector-agnostic, NEP has expertise in the distribution, manufacturing, service and finance industries. With approximately $5.7 million in assets under management, NEP’s typical deal size ranges from $250,000 to $5.0 million. Further information is available at www.norrisequitypartners.com.

ABOUT R & R BENEFITS RISK MANAGEMENT LLC
R & R Benefits Risk Management LLC is a full-service insurance brokerage offering companies and governmental organizations insurance, employee benefits package and claims analysis and improvements. R & R Benefits proactively assesses client needs and provides risk management solutions while reducing premiums. Further information is available at www.randrbenefits.com.

ABOUT ROYAL EXCURSION
Founded in 1998, Royal Excursion is locally owned and operated. Our mission has always been and will continue to be to offer a diverse selection of quality transportation, the highest level of safety, customer service, reliability, flexibility, honesty, and of course, tremendous value. We offer private and group charter services for business, team, school, and family travel from one day trips to cross-country. Royal Excursion’s 58 vehicle fleet is consistently maintained, inspected, and updated for your safety and comfort. Further information is available at: www.royalexcursion.com

Contact:

For Norris Equity Partners:
Marc Raybin
Cardinal Communications Strategies, Inc.
(646) 232-3658 | Marc@CardinalCommunicationsStrategies.com

For R&R Benefits Risk Management LLC:
Troy Scott
R&R Benefits Risk Management
(574) 968-3654 | Troy.Scott@RandRBenefits.com

For Royal Excursion:
Shannon Kaser
Royal Excursion
(574) 257-8540 | Skaser@royalexcursion.com

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