DURHAM, N.C., Oct. 10, 2019 /PRNewswire/ -- A spokesperson for Greg E. Lindberg today said that contrary to media reports, the bankruptcy filing of Agera Energy, LLC is not a sign of nor will it cause financial stress at companies owned by Greg Lindberg's main holding company Academy Association, Inc.
Agera was not an acquisition that Mr. Lindberg's investment team sought out. The investment stake in Agera was inherited as part of an acquisition of a Bermuda insurance company.
Mr. Lindberg and his affiliates invested over $100 million in Agera and the decision to no longer support the investment was made with full approval of insurance regulators.
Mr. Lindberg's main holding company, Academy Association, Inc., maintains strong levels of equity. On a tax basis, Academy Association, Inc. has over $4 billion of book equity, as of 12-31-18, and had over $77 million in net income on a tax basis in 2018.
Mr. Lindberg's businesses are forecasting close to $300 million in EBITDA for 2020. Mr. Lindberg's investments in healthcare technology, healthcare services, B2B software, and unified communications as a service (UCaaS), and other high barrier to entry, high-recurring revenue businesses are performing well.
Source: Global Growth and Academy Association, Inc.
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About Greg Lindberg
Greg is the sole shareholder of Global Growth and the sole shareholder of Global Growth's main holding company Academy Association, Inc. Greg has "been in the arena" for over 28 years building the companies that make up Global Growth today:
- Greg started a small health insurance compliance and reimbursement newsletter business with $5,000 in 1991 that became the predecessor company to Global Growth.
- Greg has completed over 125 acquisitions across numerous technology and services sectors, generating 35 percent compound annual growth rate on equity capital and a $1.7 billion pre-tax net worth as of 12-31-17.
- Greg has funded ground-breaking clinical research studies related to human longevity and the treatment of advanced Parkinson's disease.
- Greg has made investments in Europe, the United States, the United Kingdom, Central America, Hong Kong, Australia and the Middle East.
- Greg has followed the advice of Teddy Roosevelt and has been one who is "actually in the arena, whose face is marred by dust and sweat and blood."
- Greg has faced numerous adversities including surviving a brain tumor, fighting false and unjust charges stemming from a political opponent, fighting false and defamatory media reports, and surviving rapid and unforeseen changes in insurance regulation that forced some of his insurance companies into rehabilitation.
- Greg has found an even greater advantage in every adversity he has faced, one of the core elements of Global Growth's culture. Greg graduated Phi Beta Kappa, magna cum laude from Yale University in 1993 with an honors degree in economics.
SOURCE Global Growth, LLC