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Contact: Karen C. Cook |
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Travel Industry Expert Joins Seabury Group NEW YORK, September 9, 2003 - Seabury Group today announced that 30-year travel industry veteran and former corporate travel management company president C. Thomas Nulty has joined the company as associate partner in its growing travel and transportation practice. “We are delighted that Thom will be working with Seabury to extend our investment banking and financial advisory solutions to other areas of the travel and transportation industry as it faces continued economic challenges,” said John Luth, chairman, president and CEO of Seabury Holdings LLC. Mr. Nulty served as president and chief operating officer of Navigant International (NASDAQ: FLYR), the second-largest travel management company in North America, before retiring earlier this year. Prior to joining Navigant, he was president of Associated Travel, a regional travel management company that was purchased by Navigant in 1997. He also held executive positions with Carlson Travel Network, Continental Airlines and American Airlines. He is a partner in The Corporate Solutions Group and serves on the board of SideStep, Inc., a travel search engine company. He frequently appears on CNN, where he provides commentary on the travel industry. Henry W. Juan III, managing director of Seabury’s middle market investment banking practice, said, “Thom’s extensive experience in the corporate travel management business coupled with Seabury’s successful track record in airline restructuring and capital raising will enable us to help companies redefine their business models to be more competitive in today’s challenging environment.” Seabury advised TravelCLICK, Inc., the leading provider of electronic media advertising and hotel data products (Internet and Global Distribution System-based), on the placement of $25 million of private equity capital. It also advised Passkey, Inc., an application service provider (ASP) to the group travel industry, on the placement of $14.4 million of private equity capital. Founded in 1995, the Seabury Group provides investment banking, financial advisory, restructuring and consulting services for business services, insurance, real estate, transportation, travel, and technology industries. Seabury currently serves as principal restructuring advisor to Air Canada in its restructuring under the Companies’ Creditors Arrangement Act (CCAA), which is similar to Chapter 11 of the U.S. bankruptcy code. Previous engagements include successful corporate restructuring assignments for US Airways Group, America West Airlines, Inc., Continental Airlines, Inc., and Kitty Hawk Air Cargo; M&A and financial advisory work for such investment funds as Texas Pacific Group LP and Blackstone Capital; and insurance advisory work for Liberty Mutual, Fortis, and Kemper Insurance. Today, Seabury has arguably the largest group of investment banking and restructuring professionals in the world dedicated to the transportation sector. Seabury Group principals have structured over $75 billion in debt, equity, M&A transactions and strategic affiliations. Seabury’s 75 professionals have a wide variety of senior executive expertise in structured lease and debt financing structures for transportation and real estate concerns, enterprise risk assessments, insurance, technology, airline fleet and network planning, airport advisory services and IT management information systems. For more information, http://www.seaburygroup.com/. |
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