Private Equity Affiliation with Irving Place Capital

During 2008, Seabury Maritime forged a relationship with Irving Place Capital, a leading New York private equity firm. Under this arrangement Seabury has access up to approximately US$300MM of leverageable private equity which can be used for buyouts or significant minority investments. We prefer to invest US$100MM to $250MM per deal in companies with enterprise values ranging from $200MM to $1.5B and with EBITDAs in excess of $25MM. We believe that access to such funding in the current difficult capital markets environment may benefit our clients in connection with growth or expansion initiatives that they may have.