William H. Purcell Consulting


William H. Purcell has over 45 years of experience in every area of investment banking, including Mergers and Acquisitions (including LBOS and recapitalizations), Fairness Opinions, Adequacy Opinions, Solvency Opinions, Valuations, Damage Issues, Fiduciary Issues, Advice to Special Committees of Boards and Trustees, Due Diligence and Disclosure Issues, Financing of debt and equity both public and private, Leasing and Real Estate Financing, and many other areas.

A Rhode Island and Boston native, Mr. Purcell is a graduate of Boston Latin School, the oldest school in America. He graduated with honors in economics from Princeton University in 1964, followed by graduating at the top of his class in the MBA program at New York University (NYU) Business School in 1966.

From 1966 to 1990, William Purcell served as an investment banker at Dillon, Read & Co. Inc., one of the most prominent American investment banks of the twentieth Century. Joining the firm as an associate, Mr. Purcell became a Vice-President, then Senior Vice-President, and was elected Managing Director in 1982.

In November 1990, Mr. Purcell resigned from Dillon, Read & Co. Inc. to pursue a new business opportunity. From October 1993 through February 1995, Mr. Purcell served as President and CEO of Gulf USA Corporation, shepherding it through a reorganization process, and as a Director of Gulf Resources Pacific in New Zealand, a 90% owned subsidiary and one of the largest commercial real estate companies in New Zealand. He also served as an advisor to certain corporate finance departments of medium-size investment banks, including Gruntal Capital Markets. In addition, he served on certain boards of directors.

Mr. Purcell is currently a Senior Director at Seale & Associates, a boutique investment bank with both U.S. and foreign clients. Seale is focused on mergers and acquisitions, corporate finance advisory, and strategy consulting. He is also the President of William H. Purcell Consulting, Inc., providing expert witness testimony for law firms and litigation support firms in various litigation cases. Through his relationship with Seale & Associates, Mr. Purcell has affiliations with professors at The George Washington University Business School and the University of Virginia Business School. He has been an occasional guest lecturer in investment banking and finance at George Washington University and Monmouth University.

Mr. Purcell maintains affiliations with Baltusrol Golf Club of Springfield, New Jersey;
Hamilton Farm Golf Club of Gladstone, New Jersey;
Ocean Reef Club, Key Largo, Florida;
Princeton Club of New York; and Tiger Inn of Princeton, New Jersey; .


Business Career:

    • Seale & Associates, Investment Bank, Washington, DC area (Senior Director 2000 – 2018)
    • Expert witness work and testimony for law firms and litigation support firms in various litigation cases: over 180 cases from (1976-2018)
    • Additional investment bank working relationships: M.M. Dillon & Co (CT) and Gordian Group (NYC), Member of Independent Franchise Advisory Committee of Eggland’s Best, Inc.: (2005 – 2018)
    • Financial advisor to South American Homes, the managing participant of a coalition of companies providing government supported low-income housing in the Philippines and Brazil: (2007-2016)
    • Director and financial advisor, previously Vice Chairman, Business Talk Radio Network (Blue Star Media): 2001-Oct. 2009
    • Expert witness work and testimony for law firms and litigation support firms in various litigation cases: 1980-2017 (through relationship with Seale & Associates, have affiliations with Prof.George A. Overstreet, the holder of the Walker Chair in Growth Enterprises at the University of Virginia, and with Prof. Robert  Weiner, Chairman of  the Department of International Business at The George Washington University.)
  • Member of Independent Committee of Bedminster, NJ Township re: Sewerage Authority: (2005-2006)
  • Special Advisor to Board of Directors and the CEO of Magnitude Information Systems  (Nasdaq);  2003
  • Taylor Strategic Divestitures, Managing Director: (1997-2000)
  • Board of Directors of AMDG, Inc. (a diabetes biochem company): (1997 – 2000)
  • AmBase Corporation, Senior Consultant: 1991-2001; Director (1993-1995)
  • Gruntal Capital Markets, Senior Advisor to Corporate Finance Department on project basis: (1991-1998)
  • Senior Advisor on project basis to corporate finance departments of smaller-medium sized investment banks Occasional guest lecturer on investment banking and finance (George Washington University Graduate School of Business and Monmouth University)
  • President of Stanford Court Group Inc. (broker firm), from January 1996 through August 1996
  • Member (1991-1992) of Governor Florio’s N.J. Economic Development Task Force
  • Vice Chairman of Whitehill Capital (NASD member firm) from November 1990 through May 1991
  • Gulf USA Corporation (Nasdaq), President and Chief Executive Officer, Director and Director of G Resources Pacific (New Zealand) from October 1993 through February 1995
  • Business Talk Radio Network (Director and financial advisor, previously Vice Chairman, 2001-2009)
  • Stanford Court Group Inc. (Acting President, Jan. 1996 – Aug. 1996)
  • Gulf USA Corporation (Nasdaq), President and Chief Executive Officer, Director and Director of Gulf Resources Pacific (New Zealand) from October 1993 through February 1995
  • Governor Florio’s N.J. Economic Development Task Force (Member, 1991-1992)
  • Whitehill Capital (NASD member firm) (Vice Chairman, Nov. 1990 – May 1991)
  • Dillon, Read & Co. Inc., NY, NY (Associate, 1966-1973; Vice-President, 1973-1979; Senior Vice
  • President, 1979-1982; Managing Director, 1982-1990)


November 1990:

Resigned from Dillon, Read & Co. Inc. in November 1990 to initiate and to organize a 13D group to put a new management team into AmBase Corporation and Carteret Savings Bank,, a subsidiary of AmBase. The 13D group included an ex Senior Managing Director of Dillon Read, the Chairman of NAC Re Insurance Company, Augustine Asset Management, Inc, Lindner Management Corp., and others.

1966 – Nov. 1990:

Investment Banker at Dillon, Read & Co. Inc., NY, NY. Joined as an Associate in June 1966; elected Vice President in January 1973; elected Senior Vice President in January 1979; elected Managing Director in January 1982.

Worked in all areas of Corporate Finance during the 24 year period, including mergers & acquisitions, various Court testimony regarding fairness opinions, public offerings of equity and debt in both the taxable and tax-exempt areas, private placements, lease financings, real estate financings, securitization and structured financings, limited partnership financings, venture capital and general financial advisory. In addition, performed a number of firm administrative and coordinating functions, including the review and work allocation of Dillon, Read’s 50 plus Corporate Finance Associates and Analysts. Client coverage of such companies as Anheuser-Busch, Hoechst Celanese, Volkswagen and Metropolitan Life. Projects of last two years at Dillon, Read and other interesting assignments are as follows: Dow-Marion merger representing Mr. Kauffman, Healthcare International Special Committee of Board representation, Ausimont-Montedison Special Committee of Board, Quantum ReCap and Bridge Loan, workout of Federated Bridge Notes, Horsehead Industries Purchase of Minority Interest, Dillon Read Purchase of Viking Office Products and subsequent IPO, MacMillan situation representing the ESOT, Foodmaker Special Committee of Board, Owens Corning Fiberglass Board representation, Dreyfus Tax Exempt Fund Organization, Gates Learjet Special Committee of Board, Hilton Foundation, Tampa Bay – Steinbrenner race track sale, Sprint-United Telecommunications merger, Guilford-Southern Pacific negotiations, AT&T-Pacific Telephone Special Committee of Board, Twentieth Century Fox Special Committee of Board.

Club Affiliations

  • Baltusrol Golf Club, Springfield, New Jersey
  • Hamilton Farm Golf Club, Gladstone, New Jersey
  • Ocean Reef Club, Key Largo, Florida
  • Tiger Inn, Princeton, New Jersey
  • Princeton Club of New York

Areas Of Expert Testimony

  • Due Diligence
  • Disclosure Issues
  • Mergers & Acquisitions
  • Merger process issues
  • Fairness Opinions
  • Entire Fairness M&A Issues
  • Leveraged buyouts and recapitalizations
  • Bankruptcy issues, including fraudulent conveyance
  • Solvency opinions
  • Valuations
  • Advice to Special Committees of Boards
  • Fiduciary issues
  • Fee issues and compensation issues
  • Damage issues and analysis
  • Lender liability
  • Venture capital
  • Leasing and real estate financing
  • Financing transactions of both debt and equity, both public and private, taxable and tax-exempt, including structured financings
  • MAC and MAE issues
  • Document interpretation and standards from an investment banking point of view
  • Criminal cases involving alleged securities violations, insider trading, and bank fraud
  • Retained as an expert by the SEC, DOJ, and IRS.
  • Over 180 expert cases and retained by over 150 law firms.
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