TRE Financial Services

TRE Financial Services (“TRE”) was a holding company focused on financial products and services.
Financial Services
Investment date
Houston, TX

Investment Overview

TRE operated three subsidiaries: 1) IntelliTax Software Solutions, a provider of software and transaction processing to the tax preparation industry, 2) TranDotCom Solutions, a provider of transaction processing and loan management software to the short-term lending industry, and 3) CUTS Performance Marketing, a provider of tax preparation and small business products through marketing programs with over 1,000 credit unions. In 2008, IntelliTax was sold to Wolters Kluwer, generating an attractive return and liquidity event for 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. In 2014, the last remaining subsidiary of TRE, TranDotCom, was sold to a strategic buyer in the lending industry.

Transaction Background

The Platform team knew TRE’s Founder and CEO for a number of years prior to making our investment. We followed the growth and success of TRE and had various discussions about a potential investment. In 2007, we made an investment in TRE to facilitate the acquisition of TranDotCom Solutions, while also providing partial liquidity for the previous owners. Subsequent to Platform’s investment, with our help TRE brought on additional management resources and closed a highly accretive add-on acquisition, which accelerated the company’s growth.