NEW YORK, Feb. 18 /PRNewswire/ -- Wynston Hill Capital LLC, a boutique investment bank, announced today that it has been retained by Smith Electric Vehicles U.S. Corporation to serve as the company's lead investment banker. Wynston Hill Capital will assist and advise Smith Electric Vehicles U.S. with regard to the company's financings. Corey Singman and Bruce Shalett are the Investment Bankers for Wynston Hill Capital.
Smith Electric Vehicles U.S. is owned 49% by The Tanfield Group Plc (www.tanfieldgroup.com). Tanfield also owns Smith Electric Vehicles (www.smithelectricvehicles.com), based in the United Kingdom, which is the world's largest manufacturer of electric, street-ready, commercial vehicles. Smith Electric Vehicles has been converting vehicles to battery electric power for nearly 90 years. As recently announced, the company is working with Ford Motor Company to launch Ford's first fully-electric vehicle in 2010, a zero-emissions light-duty work van based on Ford's Transit Connect global platform.
Pursuant to the terms of a licensing agreement with The Tanfield Group, Smith Electric Vehicles U.S. will have the North American intellectual property rights relating to the production of the Smith product range. As a 51% U.S.-owned business, Smith Electric Vehicles U.S. will qualify for federal and regional funding for electric vehicle manufacturers.
Smith Electric Vehicles U.S. intends to commence production of the Smith Newton truck for sale in North America during 2009, with further fully-electric, zero-emission product lines to follow in the truck, van, and light van sectors. The Newton is a medium-duty truck powered by a lithium-ion phosphate battery pack with a range of 100 miles.
"Wynston Hill Capital is pleased to be working with Smith Electric Vehicles U.S., a company in the vanguard of green technology that reduces our nation's dependence on foreign oil," said Corey Singman. "Smith vehicles are in operation today around the world. We look forward to helping Smith Electric Vehicles U.S. establish its North American operations in order to capitalize on the opportunity for zero-emission, fully-electric, street-ready, commercial vehicles."
About Wynston Hill Capital LLC:
Wynston Hill Capital LLC (www.wynstonhill.com) is a New York City-based boutique investment banking firm focused primarily on serving emerging and middle market companies. The principal activities of the firm are public and private financings, corporate finance services, including mergers, acquisitions, and divestitures, institutional and retail services, asset management and real estate development. Wynston Hill Capital LLC is a Member of FINRA and SIPC.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation, or sale of any securities in any jurisdiction in which such offering, solicitation, or sale would be unlawful.
SOURCE Wynston Hill Capital LLC