Financial firm Seabury Capital said it is starting a joint venture with industry advisors Paul F Richardson Associates (PFRA) to form a shipping-focused consultancy covering both financial and operational needs of companies.
Seabury, which specialises in middle-market finance and investment banking, says it will take over all business interests and executives from PFRA for the new “maritime-centric entity.”
The newly hatched Seabury PFRA will offer investment banking services, such as sales and divestitures, private placements, corporate valuations, strategic financial advisory, restructurings, and merchant banking capability.
It will also offer operational analysis, strategic planning, supply chain design, transaction advisory, due diligence, market and competitive intelligence, economic impacts, asset optimisation, procurement and industry technology applications.
Seabury PFRA will be headquartered in New York, with other offices throughout the US, Europe, South America, Africa and Asia.
“Combining PFRA’s business with that of Seabury Capital will strengthen Seabury Capital’s long-established maritime finance investment banking capabilities while giving maritime clients a one-stop solution,” said Seabury Capital managing director Patrick Dowling.
Paul Richardson, president of PFRA and a former colleague of container shipping founder Malcolm McLean, said, “I am very proud of the client accomplishments and relationships that endured at PFRA, and I am confident that they will carry on in the same fashion under the SPFRA banner given its extensive industry offerings and coverage.”
Seabury PFRA will be led by Edward Zimny as chief executive officer and Henry Juan III as managing director. Zimny was previously employed by Royal Nedlloyd Group, Crowley Maritime, and SeaLand Services. Juan is an investment banker and attorney with previous experience at Bankers Trust Company, Bear Stearns, Credit Lyonnais and Young America Capital.
