FORT MYERS, Fla., May 19, 2015 /PRNewswire/ -- Pitbladdo Holdings announced today the launch of Commission Acceleration Corporation. CAC is dedicated to providing financial support to Long Term Care Insurance agents and agencies. CAC management is the most experienced and successful team in the business, with transaction value in the hundreds of millions of dollars.
According to Pitbladdo Holdings founder Richard Pitbladdo, "Our team is in position to provide superior value to agents and agencies. We have the industry's best access to capital, the best talent evaluating commission streams, and the best risk management systems. That allows us to sharpen our pencils for the benefit of our clients."
CAC will be purchasing individual books of commissions as well as acquiring whole agencies. "We will work hard with owner/operators to craft custom solutions to best fit their needs," said lead actuary Joe Botteron. "Whether they want to retire in comfort, get cash and continue working, or transfer the business to the next generation of management, we have the experience and creativity to fulfill their needs," added Lucinda Jarvis, who heads up operations.
CAC replaces another Pitbladdo Holdings portfolio company, LTC Global, as its primary vehicle for commission acquisition. The former leadership team of LTC Global has been transferred to CAC. Pitbladdo Holdings remains the principal shareholder of LTC Global. "The smaller shareholders of LTC Global expressed an interest in large dividend payouts after 12 years of growth, but Pitbladdo Holdings investors wanted to reinvest earnings," said Pitbladdo. "With this structure everyone gets what they want." Management of the runoff of LTC Global has been transferred to a control group composed of minority shareholders.
About Pitbladdo Holdings
Pitbladdo Holdings LLC is a closely held private equity company. Private portfolio companies include CAC www.commaccel.com, LTC Global www.ltcglobal.com , and Specto Automated Window Cleaning www.spectowindow.com. Specto has developed the world's leading technology for cleaning tall buildings. In addition, the company holds a value based portfolio of public equities designed to hedge its private holdings.
SOURCE Pitbladdo Holdings LLC