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Somerset Capital Group Ltd

Client Somerset Technology Sales Division
Company 612 Wheelers Farms Road
Milford, CT 06461

Parent Company Web Site: www.somersetcapital.com

Division Web Site www.somersetsales.net

Role: General Manager – Somerset Technology Sales

Position Location: Clearwater, FL

Somerset Capital is a 25 year old global financial service and technology firm
Background of headquartered in Connecticut with offices throughout the U.S. and
subsidiaries in the UK, Singapore and Taiwan.
Somerset
Somerset maintains a modest profile but behind the scenes is a truly
impressive organization that brings a storied history of growth and success.
Today, Somerset has over $800 Million of assets under management and
generated approximately $150 Million in new customer transaction each year.
With 84 employees, Somerset is poised to continue to grow and take
advantage of opportunity in the market to leverage their core strengths with
strong financial resources for continued success.

The company is privately held and the key employees control the majority
stock through a Management led buyout funded by a Boutique investment firm
in 2007. A single strategic Institutional private equity firm also maintains
ownership interests and supports capital funding needs in certain key areas
for the company. This employee owned culture provides an environment of
excitement and connection to the success in the business.

Somerset brings a unique combination of engaged entrepreneurial spirit and

history coupled with substantial financial resources creating a dynamic
platform for growth.

The company has several key business lines. At the core of Somerset is
Somerset Capital, which provides operating leasing for Fortune 500 clients and
middle market customers. Somerset focuses on two main asset classes:
Technology and Material Handling. Driving competitive advantage in this
market is Somerset’s strengths in used asset remarketing and resale. This is
driven by two operating divisions that focus on resale and trading of assets in
the Technology area as well as the Hard asset area.

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Somerset Technology GM Role - Confidential
Somerset This specific role is with Somerset Technology Sales. This is a ten year old
division of Somerset Capital Group that is focused on generating equipment
Technology trading profits, asset remarketing revenues, asset services fees (logistics
Sales revenues, equipment valuation fees, etc.) along with other related revenue
opportunities in information technology-related assets. This business unit is
located in Clearwater, Florida. This business was acquired a few years back as
a stand alone asset remarketing business. This business unit today maintains
17 employees who are engaged in various activities in sales and trading as
well as warehouse and logistics work.

Somerset offers clients access to an extensive selection of IT equipment

including new and refurbished SUN, IBM and HP servers, workstations and
related technology such as CPUs, memory and storage - all at a substantial
cost savings. In addition, they also offer other equipment such as forklifts,
materials handling equipment, CNC machine tools, test and measurement
systems. They are adding a health care focus in the coming years as well.

While Somerset Technology Sales supports the “off lease” assets of the
parent, the majority of the revenues and operating income is generated as a
standalone business. They do this by being an effective trader of used high
tech assets. The current business operates as a $12 Million division but
Somerset would like to find the right leader that can drive continued growth
as well as manage profitability in this business.
Job GM – Somerset Technology Sales (STS)
Description Clearwater, FL

Somerset is looking for an experienced GM / SBU Head that has run a similar
trading business. The executive should be grounded in sales, operations and
ideally knows the IT Reseller business. While being hands on, the role also has
strategic and tactical elements that make this an exciting opportunity.

This is an important leadership position within Somerset. The individual who

owns this position will bring a high level of energy, integrity, maturity and
professionalism to the structuring, coordination and motivation of the staff
members involved in this business unit.

The new GM will manage a team of retail sales personnel and equipment
product managers as well as warehouse personnel and technicians who are
based in STS warehouses in Clearwater, Florida and Scottsdale, Arizona as
well as satellite sales offices.

The primary revenue source for STS is profits derived from the selling
information technology equipment procured by STS’ product managers. The
GM will be responsible for maximizing revenue flows and profit margins from
these activities. In handling such responsibilities, the GM will be focused on

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Somerset Technology GM Role - Confidential
 enhancing short-term performance while developing long-term sustainability
plans which will include product diversification and expansion, improved
marketing and customer development initiatives, striving for operational
excellence, coordination of efforts among sales personnel both within the
division as well as with the company’s leasing clientele and other initiatives
to ensure long-term growth and profitability of this business unit.

The current staff of STS includes 17 team members involved in sales,

warehouse shipping and receiving and technician roles. All administrative
functions including accounting, legal, human resources and IT support are
provided from Somerset Capital’s headquarters office in Milford, CT. The GM
will provide direction to, and promote cooperation among, the sales and
operations staff members in both the Florida and Arizona warehouses as well
as the remote sales personnel.

The GM will work with Somerset management in developing short and long-
term plans and goals for the business unit and will work with management in
periodically reviewing progress towards achieving such goals. The GM will
convey such goals to the members of STS to insure that the business unit team
members understand expectations and objectives and that they work together
to achieve these objectives.

The GM will work with the operations team members in developing and
enhancing written processes and procedures for the efficient handling of both
incoming and outgoing equipment shipments as well management of
equipment within the warehouses with a goal of optimizing effectiveness in
this operation.

Essential Responsibilities/ Typical Duties:

1. Development of Short and Long-term Business Plans for the business

unit- This function will take over the management of a successful business
unit and seek to improve upon performance, expand and diversify revenue
sources and develop an enhanced level of sustainability in a changing
environment. In order to achieve this the GM will need to develop both short
and long term plans and goals, along with realistic methodologies to achieve
such goals.

2. Management of sales force including retail sales and product

managers– This function will manage and coordinate the activities of the
current revenue generation team for this unit. This will include understanding
the methodologies used by team members to develop, retain and expand
client networks; developing new sales avenues and techniques; arriving at
realistic sales goals for each individual and methods for meeting such goals;
challenging each sales team member to strive for enhanced results; reviewing
client lists and developing avenues for increasing, or re-starting, business flow
from existing clientele; reviewing compensation structures and proposing
alterations to Somerset management, if necessary.

3. Management of warehouse operations and technical staff– All

operations functions in both STS warehouses will report to this position. The
GM will insure that processes are reviewed, tested and challenged to insure
the greatest level of efficiency. The GM will work with sales and operations
team members to insure a high level of cooperation is achieved. The GM will
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Somerset Technology GM Role - Confidential
 review performance of all team members on a periodic basis and will provide
written performance reviews to the members of STS at least twice per year.
The GM will insure that positive and negative performance issues are
addressed promptly and actions with respect to each are handled
appropriately.

4. Business unit performance– Ultimately this position will be responsible

for the performance of the business unit on a quantitative and qualitative
basis. The GM will be responsible for achieving profitability, increased
positive cash flow and growth in this area. Included in performance objectives
is the attention to appropriate inventory turnover and improvement of
inventory and accounts receivable aging. The GM will develop and propose to
management appropriate incentive programs for STS team members to assist
in meeting these objectives. Qualitative objectives will include improved
turnaround time on audits of equipment being returned from Somerset’s
leasing clients.

Included in business unit development is growth and diversification of

revenues. This includes developing new product lines, evaluating existing
revenue generation avenues to determine profitability and viability,
developing marketing materials and resources to expand the reach and
audience of the business unit, leading efforts to cross-sell services and
product offerings to Somerset’s leasing clients.

Requirement/Qualifications/Skills:
• Should have history of running a Technology / Asset Trading business
of similar size ($10M to 100M size)
• The ideal candidate for this role will have significant experience in
leading a sales organization and bring this core strength to the table
• Should bring a solid background in information technology equipment
• Should have the ability to establish and achieve goals, motivate staff
members and to understand and improve operations and processes
• The GM will need the ability to look to the future and develop plans
and strategies to achieve the goals of the unit and of the company.
• The GM will have accountability for the profitability of this business
unit and will need to understand income statements, forecasting and
budgeting elements of the position.

Why is this
9 Opportunity to run the business and manage all aspects of growth and
compelling profitability
position to 9 Critically aligned to Parent Company Mission which creates ideal
consider? environment with relevance to the parent yet independent growth
opportunities
9 The culture provides a very flexible and opportunistic white space to
build this business with direct interactions with the Senior team
9 Entrepreneurial yet backed by the right resources to grow and sustain
any market condition
9 Pay for performance culture incenting the leader to business unit profits
9 Outstanding location on Florida

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Somerset Technology GM Role - Confidential
 The position provides a solid base salary plus two components of a bonus plan.
The first is a profit share component based specifically on the divisional
performance and the second is an annual bonus plan.

Salary and structure will be based on the verified earnings history of the
candidate selected. Somerset provides a solid overall benefit offering.

For the right candidate, relocation support will be provided.

Interview ZRG provides our client companies with best in class hiring process grounded
in fact based measurements and information. We believe finding the best
Process people for a role involves closely matching exact skills and attributes of
candidates to the specific needs of our clients. Our entire process is built
around providing a superior level of quality candidates to our clients who fit
the specifications clearly. To accomplish this, we utilize our patent pending Z
Score hiring process which provides for improved hiring results and better fits
for candidates and employers. To this end, our interview process with our
client has been carefully discussed and will include:

1) Initial Interviews with ZRG Team

2) Presentation of candidates to Somerset
3) Face to Face interview with Somerset with Candidates
4) If green lighted, Z Score assessment to be completed as an on line
process
5) 2nd Round Interviews for finalists
6) Background Checks and References
7) Offer and acceptance

ZRG Info and ZRG is a leading global retained executive search firm that focuses in the
financial services and technology area. We deliver a superior process to our
Contact clients in providing the right match of talent for a role coupled with fact
based metrics to help make good decisions.

ZRG Partner Contacts:

Ken Lubin, Senior Consultant 508-366-5800 x 210 klubin@zrgpartners.com

Ken Vancini, Managing Director 508-366-5800 x 203 kvancini@zrgpartners.com

Larry Hartmann, Managing Partner 201-560-9900 x 222

lhartmann@zrgpartners.com

www.zrgpartners.com

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Somerset Technology GM Role - Confidential
 More on
Clearwater, FL

Realtor Contacts:

http://www.myfloridahomestore.com/clearwater-real-estate.htm

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Somerset Technology GM Role - Confidential