FINANCIAL SERVICES : Eureka Cos. Offering Small Firms Growth Plans, Help in Finding Capital
The vision that Arthur D. Perrone had of servicing nearly every business need of small companies is finally getting a workout under a new umbrella group called the Eureka Cos.
The organization was created recently by the merger of three Orange County companies: Perrone’s Eureka Capital Markets Group, 5-year-old Meridian Ventures Inc. and 21-year-old Capital Associates.
Based in Newport Beach, Eureka Cos. is geared toward developing relationships with business owners and operators by providing everything from corporate financing for new companies to estate planning for business owners.
Along this cradle-to-grave route, Eureka now offers a variety of services, such as growth plans, merger ideas, arrangements to transfer companies to the next generation and industrial psychology to help owners decide what they want to do with their lives.
The concept was something Perrone had wanted to start while he was vice chair of the Geneva Cos. in Irvine, the king of middle-market mergers and acquisitions in the 1980s. But Geneva then was controlled by Chemical Bank in New York and focused on making deals.
“The biggest issue to address in the ‘90s is capital shortage,” Perrone said. “There is a real need to access cash for small companies. But in addition, the business problems of today are very complex. To have one company handle those problems is much more preferable than having an owner deal with many different consultants.”
Perrone started Eureka Capital Markets Group 16 months ago with Clyde H. Gossert, former president of CommerceBank in Newport Beach, to help modern executives through the cycles of business life.
Earlier this month, Meridian and Capital Associates joined to help round out Perrone’s effort.
Meridian, now called Eureka Corporate Investment Inc., is a merger and acquisition firm. Capital, now called Eureka Financial Services, provides personal and estate planning.
“We believe strongly in the synergy created by this new group,” said Richard A. Callaghan, a partner in Eureka Financial.
