Mario Antwine successfully raised $1.25M to become the owner of Pearl Interactive Network
In March 2024, Mario Antwine, an SMB entrepreneur working with Mainshares, successfully closed $1.25M in preferred equity funding to acquire Pearl Interactive Network.
Pearl is a leading Business Process Outsourcing (BPO) service provider with multi-channel capabilities, specializing in large prime contracts and serving U.S. government clients.
Columbus, Ohio
Location
$1.25M
Funds raised
18
Number of investors
Meet the New Owner
Meet Mainshares Entrepreneur and CEO of Ascentium Holdings, Mario Antwine. Born and raised in Atlanta, Mario received his Bachelor’s degree from Howard University and graduated from the Yale School of Management, where he honed in on his leadership skills and desire to incorporate his interest in business with community development.
Mario Antwine, Owner of Pearl Interactive Network
This led Mario to pursue Pearl Interactive Network (“Pearl”) as an acquisition target, due to its focus on hiring people with barriers to work, such as people living in economically challenged areas and HUBZones, persons with disabilities, Veterans, and military spouses.
Prior to Pearl, Mario led the go-to-market strategy for a major real estate company, managing 80 acquisitions worth $75M in revenue and held several leadership positions in growth-stage companies, managing teams leading expansion and revenue generation.
Mario is active in his community, co-chairing an alumni board at Yale, serving on the board of Butterfly Dreamz, and acting as Regional Vice President of the Robert Toigo Foundation. He has been recognized with the Yale Alumni Association Volunteer Leadership Award.
Working with Mainshares has been an absolute game-changer in our capital-raising journey. Their platform not only makes the process easier but adds a level of certainty, professionalism, and access to LPs that is unparalleled.
Mario Antwine
Proud owner of Pearl Interactive Network
About the Business
Founded in 2004, Pearl has successfully provided healthcare services, beneficiary care, and help desk support targeting the government sector.
Pearl gained traction among the world’s largest federal BPOs and positioned the Company as a contact center with specialties in healthcare and beneficiary services, counseling and therapy, and help desk support. The Company has won several coveted awards, and has been recognized as a leader among call centers.
Pearl differentiates itself from competitors as a result of its social mission that prioritizes hiring individuals living in economically challenged areas, persons with disabilities, military spouses, and veterans.
Key service offerings include Health & Beneficiary Care Services, Counseling & Disability Services, and Government Help Desk Services. Pearl leverages diversity as a core catalyst for growth within the marketplace for government contracts and fosters an inclusive environment that enhances the client experience. The Company generates 40-45% gross margins on its contracts.
Transacting with Mainshares
This investment opportunity, structured as a 506(b) offering, was designed to deliver substantial returns to investors. The offering featured both preferred and common equity. All investor equity would receive a 10% annual preferred return on unreturned capital, by way of quarterly distributions.
The equity distribution waterfall of this investment opportunity prioritizes the return of invested capital and preferred returns, followed by proportional profit allocation among equity holders.
Mario was able to utilize Mainshares Investment Documents, developed in collaboration with SMB investors, tax counsel and law firm Lowenstein Sandler LLP, which reduced legal fees and expedited the drafting and review process.
Mainshares helped Mario assemble a group of 18 investors, each contributing between $50k and $250k.
Among them is Chris Munn, the founder of The Fairfield Company, an independent investing firm focused on small businesses.
Mario has an impressive background as an operator and serial acquirer. I'm excited to be backing him with his newest successful close, Pearl Interactive Network. Mainshares was a great partner in this deal, allowing me to learn more about Mario's capital raise, read through the deal documents, and commit to the deal with a seamless experience.
Chris Munn
Co-Founder, The Fairfield Company
Supporting Mario
With the transaction closed, Mario has been hard at work transitioning into the owner's seat. At Mainshares, we’re passionate about backing the next generation of American owner-operators throughout their journeys.
If you resonated with Mario’s story, here are a few asks he had for the community:
Join the team
Pearl Networks is always looking for talented folks to join the team. We would be grateful for any referrals. You can find our current job openings at the link below.
Connect with us
If you or someone you know is passionate about making a difference, follow our page on LinkedIn and other social channels.
Spread the word
Help us grow our impact by sharing our mission with your network. Please reach out with any interested parties.
As always, if you have any questions or feedback, please visit our help center or reach out to us at success@mainshares.com.
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