CEA Group Research
Advisory Approach
CEA Group is a global investment banking and advisory firm founded in 1973 by J. Patrick "Rick" Michaels, Jr. With over 52 years of continuous operation, CEA has evolved from a niche cable television brokerage firm into a multifaceted international advisor specializing in technology-oriented sectors. The firm's core thesis is that "spotting winning opportunities" requires the right combination of vision, focus, and practical strategies—finding "the right thing in the right place at the right time." CEA's approach emphasizes long-term relationship building over transactional work, with the firm stating "we like to think of ourselves as advisors, not just transaction professionals."
Sector Focus
CEA's practice concentrates on technology-driven industries where the firm has deep expertise and relationships. Their primary focus areas include:
-
Cybersecurity and Intelligence: CEA has developed significant expertise in cybersecurity, having co-founded the National Cyber Partnership (non-profit dedicated to training military veterans for cybersecurity jobs) and CyberStratos, LLC (formed to acquire cybersecurity companies). The firm's Senior Advisor for Cyber Security, Jeff Snyder, leads this practice.
-
Media, Telecom, and Entertainment: The firm's founding sector remains a core strength. CEA has completed hundreds of transactions in cable television, broadcasting, digital media, streaming, OTT platforms, satellite communications, and publishing. This heritage includes representing clients in building TCI and Liberty Media, with testimonials from Dr. John Malone and Christopher Winfrey (CEO of Charter Communications).
-
Space Technology: CEA has positioned itself at the forefront of the commercial space revolution, advising on satellite manufacturing, ground equipment, space exploration, and satellite communications. CEO Rick Michaels moderated the virtual event "Space is Open for Business" in 2021.
-
Software and SaaS: Enterprise software, data analytics, artificial intelligence, cloud technology, and IoT platforms represent a growing practice area. Recent transactions include Startle Music's acquisition of Visual ID (digital signage software) and GMEX Group's acquisition of Pyctor (blockchain infrastructure).
-
FinTech and Digital Assets: Through CEA International LLP in London, the firm advises on blockchain infrastructure, digital asset custody, cryptocurrency exchanges, and hybrid finance (HyFi) platforms bridging Traditional Finance and Decentralized Finance.
-
Healthcare Technology: HealthTech, medical devices, healthcare IT systems, and practice management software.
Deal Track Record
CEA Group has completed over 1,000 transactions totaling $60+ billion in more than 60 countries across five decades. The firm's affiliates previously managed or co-managed private equity funds with $1.15 billion under management through Atlantic American Partners.
Recent Representative Transactions:
2024 – Advised Startle Music Limited on the strategic acquisition of Visual ID (Irish digital signage and marketing software company) and structured the debt financing package for the acquisition
2022 – Advised GMEX Group on the acquisition of Pyctor digital asset technology from ING (Dutch multinational banking corporation); Pyctor provides institutional-grade custody solutions for digital assets with patent-pending multi-signatory protocols
2022 – Advised GMEX Group on an equity financing round led by Burkhan's Tempus Network with participation from Middle Eastern investment institutions to establish a "Network of Networks" multi-asset digital exchange hub across the MENA region
Historical Transactions (Axial Verified):
- Engineering services company → SouthWorth Capital (2017)
- Hygea Healthcare → Macquarie Group investment (2016)
- DSM Technology Consultants → BBVA Compass debt financing (2015)
- United Country Real Estate → McCarthy Capital acquisition (2015)
- Equicross (safety equipment) → CableOrganizer acquisition (2014)
- Solicore (healthcare software) → New Science Ventures investment (2013)
- Evergreen Sales & Marketing → American Support acquisition (2011)
Process & Fee Structure
CEA operates as an exclusive advisor, typically engaging on a retained basis for sell-side mandates, buy-side searches, recapitalizations, and capital raising. The firm seeks to serve privately-held companies, particularly family-owned and operated businesses, with a sweet spot in the $10M-$250M enterprise value range. CEA also provides services to private equity firms, family offices, and hedge funds.
The firm's process includes:
- Comprehensive buyer outreach leveraging 50+ years of global relationships
- Transaction structuring and negotiation support
- Debt and equity capital sourcing
- Strategic planning for estate and tax considerations
- Joint venture and partnership exploration
- International partnership facilitation
CEA's investment banking services can be secured for specific transactions or in conjunction with broader corporate advisory services including business development and strategic advisory.
Buyer Network
CEA maintains relationships across multiple buyer categories globally:
Private Equity: The firm has closed transactions with Macquarie Group, McCarthy Capital, SouthWorth Capital, New Science Ventures, and American Support. Through 50+ years of dealmaking, CEA has established relationships with PE firms across sectors including cybersecurity, media, technology, and industrial services.
Strategic Buyers: CEA has facilitated sales to corporate strategics including CableOrganizer, ING (through Pyctor acquisition), and international buyers across the firm's 60+ country footprint.
Family Offices and Independent Sponsors: The firm works extensively with family offices and independent sponsors, particularly through its Atlantic American Partners platform.
International Buyers: With transaction experience in 60+ countries and offices/affiliates in London (CEA International LLP), CEA provides access to European, Middle Eastern, and Asian buyers.
Competitive Positioning
CEA Group differentiates through several key advantages:
-
Longevity and Trust: 52 years in business with over 1,000 completed transactions, including multi-generational client relationships (testimonials reference 30+ year relationships)
-
Sector Specialization: Deep expertise in technology-oriented sectors (cybersecurity, space, media/telecom, software) rather than generalist coverage
-
Global Reach with Local Presence: 60+ countries of transaction experience with London office for European access and Tampa headquarters for U.S. market
-
Operational Experience: Several senior advisors are former operators (CEO experience) bringing practical understanding of sell-side dynamics
-
Integrated Platform: Investment banking combined with alternative asset management (Atlantic American Partners), advisory board access, and direct investment capabilities
Not a Fit If
CEA typically declines engagements that:
- Fall below their minimum engagement size (approximately $10M TEV)
- Require purely passive advisory without active execution
- Involve sectors outside their expertise areas
- Conflict with existing client relationships
Team
J. Patrick "Rick" Michaels, Jr. – Founder, Chairman & CEO. Founded CEA in 1973 after early career at TM Communications (Times Mirror cable subsidiary) and Cable Funding Corporation. Magna Cum Laude graduate of Tulane University (Phi Beta Kappa, Tulane Scholar), Master's from Annenberg School at University of Pennsylvania, studied at London School of Economics. 1988 Florida Entrepreneur of the Year. Former Vice Chairman of U.S. Naval Academy Board of Visitors. Co-founder of National Cyber Partnership and CyberStratos.
Paul Allen Henley – Senior Managing Director. 25+ years investment banking experience beginning at Morgan Stanley and Lehman Brothers. Founded Horizon Capital and Athena Capital Partners. Former CEO of several public companies. Holds Series 79 and 63 licenses. MBA (double major) from Florida State University. Based in Dallas, Texas.
David G. Moyer – Senior Managing Director, President of Principal Advisors Group. Former GE Capital executive (Senior Vice President of GE Capital Equity Capital Group). MBA from Harvard Business School, BA in Economics from Syracuse University (Phi Beta Kappa). FINRA registered Securities Principal (Series 24, 7, 63). Independent Director of Audax Credit BDC Inc.
Martin Farmer – Partner, CEA International LLP (London). Led Startle Music/Visual ID acquisition and GMEX/Pyctor acquisition.
Karima Serageldin – Managing Director, CEA International LLP (London). Led GMEX Group transactions including Pyctor acquisition and equity financing round.
Additional Senior Team: Ming Jung (EVP & COO), Brad Gordon (EVP & CFO), Gar Lippincott (Managing Partner), Robert Moreyra (Managing Partner), Bradley J. Snyder (Partner), Jim Guo (Partner), Lisa Levatino (Managing Director), Doris Rainey (SVP).
Geographic Coverage
Headquartered in Tampa, Florida (101 East Kennedy Boulevard, Suite 3300), with office in Center Valley, Pennsylvania (CEA Principal Advisors Group). CEA International LLP operates from London, providing European market access. The firm has completed transactions in 60+ countries across North America, Europe, Latin America, Asia, Australia, and the Middle East.