Sydney-based investment banking boutique Ironstone Capital yesterday said it is rebranding itself as ICA Partners.
The exercise recognizes that Ironstone has grown into two distinct businesses: A Brisbane-based coal advisory section and a renewables and infrastructure advisory segment located in Sydney.
Michael Siede, Aaron Simcock, Al Craib and Greg Arandt will lead ICA.
Ironstone is one of Australia’s most active power and renewables advisors, with recent roles on AGL Energy’s acquisition of Perth Energy and RATCH Australia’s purchase of a 70% stake in Alinta Energy’s 214MW Yandin wind project It has also recently become an investor in its own right, joining Australia’s Clean Energy Finance Corp. to launch renewables investor Warada Capital.
There is no change in the company’s relationships with its clients, Ironstone principals said in a letter to them about the rebranding.
ICA will now be mostly separate from the Brisbane-based, Ironstone coal-focused business run by Wayne Seabrook and Simon Keyser – although the two groups may work together occasionally.
The timing of the change was prompted by the rapid growth of non-coal businesses, especially renewables, sources said.
ICA has 26 employees – most of whom are based in Sydney while some are in Melbourne and Tasmania.