A message from Accord Financial’s CEO, Simon Hitzig
We’ve been through many economic cycles, but none that descended so quickly into near shutdown of the global economy, and none that brought with it such an immediate risk to our families and friends. With times unlike any other, we find ourselves focused on ways to weather the storm, both personally and professionally.
Our fundamental questions are these: what can we do to support each other, how can we honor our commitments, and how can we bring the full measure of our resources to come through this together? With the facts on the ground constantly shifting, what can we rely on? At Accord, the foundation remains the same: our strong balance sheet anchored by our permanent equity base, our diverse portfolio, and our incredible team.
Balancing structure with flexibility
For decades, our clients, referral networks, co-investors and the entrepreneurs behind our portfolio companies have counted on our capital to support their businesses. When we say we’ll close a deal, the deal will close. While each business may have a unique approach to weathering the current storm, our promise to all is the same – listen, adapt, forge ahead. Committed capital now means our clients can rely on us during this crisis and beyond.
Benefiting from diversification
Our broad range of solutions and deep industry expertise means that our portfolio represents a cross-section of the country’s most dynamic industries. With hundreds of small and medium-sized clients representing almost every industry sector, no one client currently exceeds 5% of our portfolio. We’ve never traded credit quality for growth, entering the current downturn with a quality portfolio and complete alignment with the excellent teams managing our portfolio companies.
Our united front
Accord has the deepest and most experienced management team we’ve ever had – these are the kinds of markets in which we earn our stripes. Our founding shareholders own more than 50% of Accord shares – with not a single share sold this year. Our investors remain committed and our banking partners continue to stand beside us through this difficult period.
These elements of strength are what guide us. We are passionate about helping entrepreneurs build their businesses. We are passionate about supporting our referral sources and partners. And we are passionate about creating value for our investors.
Our family of companies has robust pipelines and continues to work with our referral networks and review incoming prospects. We are vigilant, disciplined, and are here to help. We look forward to managing through these challenging times together.
"Our mission is to focus resources where we can drive positive change, and as always, simplify access to capital so our clients can thrive." - Simon Hitzig, Accord Financial President and CEO