{BUSINESS WIRE} – December 10, 2024 – JA Moody, a premier maritime supplier of fluid control valves, actuators, strainers, parts and services to the United States Navy and Commercial Marine industry, today announced a strategic partnership and investment from New Heritage Capital (“Heritage”), a Boston-based private equity firm specializing in founder-owned businesses. The investment was structured using Heritage’s Private IPO® solution, which preserves operational control for JA Moody’s management while providing capital for accelerated growth. Terms of the transaction, which included Moody Marine Services, the company’s technical services division, were not disclosed.
“This partnership marks an exciting new chapter in our company’s history,” said Lisa Smith, CEO of JA Moody. “Our unwavering commitment to service excellence and innovation will be amplified through our collaboration with New Heritage Capital. We’re expanding our footprint nationally and establishing a board with senior industry advisors, while maintaining our core executive team — myself as CEO, Greg Buzan as COO of JA Moody and Kevin Thibault as President of Moody Marine Service.”
Smith also acknowledged the retirement of Frank Buzan, the company’s former CEO and principal owner, who led the organization for more than 35 years. “We thank Frank for his leadership and vision throughout the past four decades, putting the company in a strong position for its next phase of growth,” said Smith.
Mark Jrolf, Managing Senior Partner at Heritage, added, “JA Moody’s integrated solutions and deep industry expertise have established them as a leader in maritime services. We’re excited to support their continued growth and expansion.”
Heritage would like to recognize the investment banking team at BlackArch Partners, led by Chuck Thompson, and its legal counsel, Choate Hall & Stewart LLP, led by T.J. Murphy, for their efforts in ensuring a smooth and timely close and facilitating the start of an exciting partnership.
About JA Moody & Moody Marine Service
With more than 50 years of experience, JA Moody has demonstrated unwavering commitment to compliance, customer satisfaction, and operational excellence in maritime services. The company’s executive team brings unique expertise to vessel maintenance and operations.
Moody Marine Service, established in 2001, provides specialized actuator and valve repairs through ISO 9001:2015 certified facilities in Florida and Virginia. The company employs experienced, factory-trained technicians and maintains comprehensive OEM parts inventory for rapid service delivery.
About New Heritage Capital
New Heritage Capital is a Boston-based private equity firm with a twenty-year track record of partnering with growing, middle-market, founder-owned businesses. Through innovative investment structures like the Private IPO®, Heritage provides founders with liquidity and growth capital while preserving operational control. The firm’s strategic, operational, and financial guidance helps portfolio companies achieve their growth objectives.
The above quote is provided by Lisa Smith, CEO of JA Moody. Ms. Smith is not an investor in any New Heritage Capital fund and was not paid for the quote included above. However, due to her position at JA Moody, she may be inclined to have a favorable view of New Heritage Capital.
