NEW YORK, November 26, 2018, 2018 /PRNewswire/ — AmeriVet Securities Inc. (AVI) and South Street Securities Holdings, Inc. (South Street) today announced that they have completed a recapitalization transaction whereas South Street will invest seven million dollars into AVI to support operations and help achieve their goal. AVI is a Service Disabled Veteran Owned Business (SDVOB) whose mission is to hire and train returning U.S. military veterans while providing financial services to large corporations, banks, and public finance issuers. AVI specializes in debt and equity capital markets, public finance, institutional agency trading, loan sales, cash management, foreign affairs and investment banking.
Elton Johnson, Jr., Chief Executive Officer and Lieutenant Colonel, U.S. Army (Retired) established AVI in 1994 which makes AVI one of the oldest SDVOB broker/dealer firms in the country. Elton commented on the transaction. “After establishing one of the first SDVOB broker/dealers in the early 1990’s, I was called up for active military service in December 2001 and spent several years overseas on active duty military deployments. After serving on seven deployments, two of which were to Iraq and one to Afghanistan, I came back to the States and saw that the whole SDVOB broker/dealer landscape had changed and I would need a strategic partner to continue on AmeriVet’s mission to hire and train returning U.S. military veterans. SSS became that partner by investing significant resources in our firm and setting us down the path towards success. I am humbled by the support South Street has given the AmeriVet team and look forward to providing differentiated value to our clients.” Michael Naidrich and Patrick Perdue, both veterans of leading firms in the Diversity and Inclusion space, will join the AmeriVet management team and will serve as Co-Heads of Capital Markets and will be based in New York City.
AmeriVet will be a leader in veteran engagement and has a team focused on supporting AVI’s goal to provide meaningful employment opportunities for returning U.S. military veterans. Veterans will make up the majority of the firm and be placed into client facing roles immediately, supported by financial veterans. The AmeriVet team will focus on veteran outreach, recruiting, training, mentorship, and philanthropy while adding unique value to our clients. AmeriVet’s board of directors is made up of senior military officers with unique networks that will bring differentiated commentary on foreign affairs. Major General John Wharton, U.S. Army (Retired), who recently retired after three decades of military service, commented “I am impressed by the AmeriVet mission and trust that their unique business strategy and vision to bring differentiated value to their clients by leveraging off the unique intersection of finance, global events, and veteran engagement will be a differentiator for the firm going forward.”
Jim Tabacchi, President and CEO of South Street commented on the transaction. “We are excited to welcome Elton and the rest of the AmeriVet team to South Street. Building upon Elton’s work, AmeriVet will now have the capital, resources, and support of a first-class team in South Street to further support their mission and value proposition. We are committed to making this business combination mutually beneficial to everyone involved, particularly returning U.S. military veterans.”
South Street Securities Holdings Inc., through its wholly owned subsidiaries, is a leading provider of U.S. Treasury and Agency repo financing to Agency Mortgage REITs, asset managers, banks, broker-dealers, and other capital market participants. The company is a broker-dealer and Tier 1 FICC member running a matched book portfolio that provides low-cost financing for high-grade security positions and a source of secure short-term investment for money market funds, municipalities, GSEs, insurance companies, and other alternative deposit clients. South Street is a leading provider of MBS repo financing to the Agency REIT sector by acting as a credit intermediary between the Agency REITS and high-quality liquidity providers in the repo space. South Street’s mortgage business provides access to the capital markets for mortgage originators that hedge their forward pipeline exposure. South Street also provides other servicing, collateral management, technology, and administrative services for banks, broker-dealers, and other capital market participants.
Further information is available at www.southstreetsecurities.com.
AmeriVet Securities Inc. is a broker/dealer that specializes in the Capital Markets, Public Finance, Institutional Agency Trading, Loan Sales, and Investment Banking. Established in 1994, AVI is a Service-Disabled Veteran-Owned Business (“SDVOB”) dedicated to providing the highest level of service in the industry while providing meaningful employment opportunities to post 9/11 military veterans.
Further information is available at www.amerivet.test.