TRE Financial Services Holdings, LLC

Company Overview:

TRE is a holding company focused on financial products and services.TRE currently has one subsidiary, TranDotCom Solutions ("TranDot") that provides transaction processing and loan management software to the short-term lending industry. The Company’s other subsidiaries, IntelliTax Software Solutions ("IntelliTax"), a provider of software and transaction processing to the tax preparation industry, and CUTS Performance Marketing ("CUTS"), a provider of tax preparation and small business products through marketing programs with over 1,000 credit unions, were separately sold to strategic buyers in October 2008 and January 2011, respectively.

Transaction Background:

The Platform team knew TRE’s Founder and CEO, Andy Priest for a number of years prior to making our investment. We followed the growth and success of the Company and had various discussions about a potential investment. In 2007, we made an investment in TRE to facilitate the acquisition of TranDot while also providing partial liquidity for the previous owners.

In 2008, IntelliTax was approached by a strategic buyer, Wolters Kluwer, to gauge interest in acquiring the Company. Although it was earlier than anticipated, TRE and Platform felt Wolters Kluwer was the right buyer and decided to sell IntelliTax in October 2008, generating a strong return and liquidity event for the TRE management team and Platform.

In 2011, CUTS was sold to CU Solutions Group, Inc., a strategic buyer offering similar discounted products and services to the credit union industry.