Pritchard Capital Partners, an energy investment bank and institutional financial services firm, and Global Hunter Securities, a global investment bank, have signed a letter of intent to form Pritchard Global Hunter Securities, a full-service energy-focused investment bank.
The combined firm will offer a full range of investment-banking services targeted toward small- to mid-cap energy. The combination brings together two energy banks: Pritchard Capital, with a strong sales-and-trading and research base and an equity-focused investment-banking group; and Global Hunter Securities, whose investment bankers have significant experience in structuring and distributing equity and debt securities for energy companies.
Thomas Pritchard, managing partner and founder of Pritchard Capital, said, "We are expanding our investment-banking capabilities to include both equity and debt offerings and will continue to provide best-of-class research and sales-and-trading operations throughout the energy sector. Together, we are building a preeminent energy investment bank, which will deliver bulge-bracket execution with a boutique focus."
As part of this transaction, Thomas Pritchard will become president and managing director of capital markets, and Daniel Conwill, the CEO of Global Hunter Securities, will be CEO and head of investment banking at Pritchard Global Hunter Securities. Edward Lainfiesta, currently president of Global Hunter Securities, will become vice chairman of Pritchard Global Hunter Securities, and Todd Giustiniano, the current CFO of Pritchard Capital, will be CFO of the new entity.
The strategic rationale behind the decision was to expand into the investment banking and energy sectors.
Added Daniel Conwill, "Our expertise and relationships in energy-based investment banking, combined with Pritchard's research and sales and trading experience will make us one of the leading energy banks in the US, with a base in the South, where there has been a long history of energy-related investment banking." After five years at Howard Weil, Conwill founded the energy investment banking group at Jefferies & Co., where his team completed over 150 transactions in 12 years.
Financial terms of the transaction are not being disclosed. The combined companies will remained based in New Orleans, with offices in New York, Houston, Washington, DC, Atlanta and Newport Beach, Calif.