Charles Towne Holdings, a capital markets, investment banking and financial advisory services firm headquartered in Charleston with offices in Greenville and Atlanta, has closed on investments from three nationally prominent business leaders that will allow it to accelerate its business development activity.
The firm announced that it has closed on investments made by Harvey Schiller, former chairman of YankeeNets (now Yankee Global Enterprises), parent company of the New York Yankees; Jim Pallotta, current co-owner of the Boston Celtics and founder of the private investment company Raptor Group; and Tom Glocer, former CEO of media conglomerate Thomson Reuters.
In all, approximately 15 individuals have invested in Charles Towne Holdings this year.
Charles Towne, in concert with its subsidiary, Charles Towne Securities, guides middle-market companies through private placements, mergers and acquisitions, and other financial transactions. Its growing involvement with sports, media and entertainment verticals complements a variety of work in health care, manufacturing/distribution, consumer products, fin tech and other markets.
With the investments from Schiller, Pallotta and Glocer, the 1-year-old firm has closed on approximately half of a $500,000 equity capital offering that it launched earlier this year.
“It really is to go toward business development and marketing development and be able to go out and get new deals signed up,” said Andy Brusman, CEO of Charles Towne.
The firm currently has 25 associates handling 12 active engagements and “north of 200 million” in aggregate deal volume, Brusman told Upstate Business Journal.
While his firm has worked on deals in locations as near as Florida and as distant as Taiwan, the firm’s intent is to “really blanket South Carolina” in the fourth quarter of 2019, Brusman added. “It’s just a market we think we can do a lot more in.”
Steve Sellery, the firm’s chief marketing officer and Frank Wrenn, its managing director of advisory services, work out of Charles Towne Holdings’ Greenville office at 211 E. Washington St.
Sellery is founder and CEO of Iconic Sports & Entertainment and served as director of sports marketing at Golf Channel. He also served as executive director of the BMW Charity Pro-Am.
Wrenn was previously affiliated with SunTrust Bank and served as president and CEO of Crescent Capital Partners, an investment banking boutique.