Knox Capital is an out-of-the-box private equity firm that provides foundational capital and operational expertise to middle- market businesses. Using carefully identified criteria, the firm seeks out companies with high potential and provides them with resources and a support structure to foster lasting results.
Knox Capital had around 20 entities and struggled to keep them in compliance. The small team didn’t have time to manage the entities on their own, so they turned to an outsourced partner – a well-known, old-school registered agent.
Unfortunately, the registered agent wasn’t making the grade. Communication was sluggish (or non-existent) and tasks were often left unfinished. Even if work was getting done, it wasn’t clear to the Knox Capital team: the provider’s processes were muddy.
As a result, the firm was mired in “maintenance hell,” according to Alex Gregor, founder and partner of Knox Capital.
And, while no one wants to be stuck in maintenance hell, it’s the last place any private equity firm wants to find itself in. When deals and relationships with financial partners rely on being in good legal standing, having poorly managed entities can be a death blow.
Alex knew it was time to part ways with the provider – and seek out a solution that would give his team total confidence that Knox Capital’s entities were in compliance.
The Solution
Alex contacted Filejet – and was happy he did. Filejet’s compliance audit found that several of Knox Capital’s entities had to be canceled or dissolved due to the former provider’s inconsistency and poor management practices.
After onboarding – which Alex found to be clear, simple, and even enjoyable – Filejet removed inactive entities, and organized the active ones. The Filejet team also managed to track down missing information and documents and added them to Knox Capital’s Filejet account.
Throughout the implementation process, Alex was impressed by the care, commitment and concierge-level service provided to him by the Filejet team. During onboarding and after, Alex worked with the same representative. His designated partner quickly became versed in and attentive to Knox Capital’s needs.
That consistency was game-changing to Alex. His former service provider assigned him a different rep each year, which led to inconsistent communication and service, and data managed by too many hands.
Now, Alex has a clear idea of where that data is through every step of the entity management process. The transparency of Filejet’s platform allows Alex to view the status of entities at any time and share that information with others – including Knox Capital’s counsel.
The Results
Partnering with Filejet allowed Knox Capital to escape from maintenance hell. Now, the firm is experiencing entity management nirvana.
Filejet’s unmatched transparency, unparalleled reliability, and exceptional communication have given Alex and his team unequivocally a greater sense of control.
Now, instead of wondering whether a last minute, compliance-related surprise will rear its head at an inopportune moment (like in the middle of a deal), Alex is confident that Knox Capital’s entities are being properly managed.
With entity management no longer a front and center concern at Knox Capital, Alex and his team can focus on the work that truly matters to them: helping companies achieve long-term success.
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