Raleigh, North Carolina: Sigma Capital's Chairman and CEO, Mr. Bruce Woodry, announced today that the firm has added a new investment banking area, raising debt and equity for private power, merchant power and premium power projects in the $5-250 million range.
With energy shortages in California and throughout the nation highlighting the need to quickly bring power generation projects online, Sigma Capital Group has seen a lot of demand for capital, but an inefficient capital market for supply." Sigma Capital Group proposes to partially fill this funding gap by providing services to developers who may not realize how (or have little ability) to raise funds from traditional institutional sources
According to Mr. Woodry, "The explosion in high tech equity markets in the late '90s created a funding frenzy among Venture Capitalists in high tech startups. The scenario of a business plan begetting quick and easy venture capital resulting in an IPO all imploded in 2000 when the equity markets would no longer support the lofty evaluations of companies incapable of achieving operational profitably. One aftermath of this "tech wreck" was traditional investors who have become disillusioned are now turning to the more stable returns associated with power generation projects.
"Our traditional base in the high growth Computer/IT, Telecommunications and Aerospace/Defense industry sectors has proven to be correct strategic picks for our business in the past, but we will be very selective on the Telecom transactions we focus on in the future due to the issues with "THE TECH WRECK". In addition to Computer/IT, Telecommunications and Aerospace/Defense, we intend to enter into a new area, and give primary focus to the emerging Private Power industry sector. Although this is a new area of activity for us, it fits well with the backgrounds of our people," said Mr. Woodry.
Leading the project for Sigma Capital Group will be Mr. Richard Price, Sigma Capital's Vice President for Power Projects. Mr. Price has more than 20 years of experience in commercial banking, international trade, and business management. He has extensive experience both in project finance and corporate development roles closing over $1.5 billion of transactions ranging from $1 million to $100 million.
New to Sigma's advisory board are notable industry veterans Mr. Dilip Das and Mr. Edmund Jones. During his 30-year career at GE, Mr. Dilip Das has held management positions in marketing and business development at various GE Businesses. In his most recent capacity as Director, International Business Development, Industrial Power Generation, Mr. Das provided strategic and transaction leadership for GE's onsite generation initiative. Mr. Jones is the director of institutions and governmental projects for Chevron Energy Systems. Mr. Jones has extensive experience in private power, merchant power and premium power projects, and has considerable visibility in Washington.
Sigma Capital Group is a boutique investment bank located in Raleigh, North Carolina, adjacent to Research Triangle Park, a leading technology region in United States. "Sigma Capital Group partners are noted for their keen insight and professionalism in helping improve shareholder value through corporate development activities. We intend to capitalize on our relationships and expertise to assure that to our client companies fully realized the benefits a strong investment banking partner provides in the coming years, " said Mr. Price.
For additional information, contact :
Bruce Woodry, Chairman and CEO
woodry@sigmacapital.net
(email)
Richard Price, Managing Director
price@sigmacapital.net
(email)