B. Riley Financial Adds GlassRatner to Diverse Platform, Expands Business and Financial Advisory Consulting Services

B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley”), a diversified provider of financial and business advisory services, and GlassRatner Advisory & Capital Group LLC (“GlassRatner”), today announced they have signed a definitive agreement pursuant to which GlassRatner becomes a wholly-owned subsidiary of B. Riley Financial effective July 31, 2018. Under terms of the agreement, GlassRatner will continue to be managed by Ian Ratner, one of the firm’s founders, and operate under the same brand name. The addition of GlassRatner serves as a new, dedicated business consulting services vertical under B. Riley Financial.

GlassRatner is a specialty financial advisory services firm which advises companies, shareholders, creditors and investors on complex business problems and critical Board level agenda items including transaction advisory and due diligence, fraud investigations, corporate litigation, business valuations, crisis management and bankruptcy. The addition of GlassRatner strengthens B. Riley’s diverse platform with new services and complementary capabilities which enhance the firm’s ability to provide clients with end-to-end services at any stage during the business life cycle. The firm is nationally recognized for its expertise in bankruptcy and restructuring services, forensic accounting and litigation support, valuation services, and real estate consulting.

“As we look to grow B. Riley Financial, we are strategically looking for businesses that allow us to enhance the services we provide to our clients,” said Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley. “GlassRatner’s specialized expertise and skillset is a complementary fit for our diverse mix of services and strengthens our ability to provide clients with a more holistic, strategy through execution approach to their most critical needs. Together, B. Riley FBR and GlassRatner offer a wider depth and breadth of restructuring capabilities, which is just one example where clients can directly benefit from our cross-platform resources. We’re excited about the potential opportunities the combination of B. Riley and GlassRatner creates and look forward to working with this highly-skilled team to maximize the value we can deliver to clients and investors.”

“GlassRatner has always been dedicated to providing a comprehensive suite of advisory solutions to help our clients navigate through a variety of business problems. This merger further strengthens our ability to provide a level of service our clients have come to expect,” said Ron Glass, Principal at GlassRatner. “By joining B. Riley Financial, we now have access to a robust platform comprised of extensive resources and expertise that we can leverage to not only enhance, but also build upon our current service offerings.”

“This is an exciting new chapter for GlassRatner. We have a unique opportunity to collaborate with our B. Riley affiliates and generate new business opportunities where the combination of resources better positions us to provide well-rounded solutions to clients through services all under the same roof. I simply could not be more excited for our team and I look forward to see what the future holds,” added Ian Ratner, Principal at GlassRatner.

GlassRatner’s Advisory Expertise Complements B. Riley Capabilities, Adds Market Presence
GlassRatner’s areas of business consulting expertise serve as complementary offerings which enhance several client services offered under the B. Riley platform, including investment banking and institutional brokerage services through B. Riley FBR; appraisal, corporate advisory and valuations, liquidation and asset disposition solutions through Great American Group; and direct lending services through Great American Capital Partners. By leveraging cross-platform expertise and resources, B. Riley and its companies are uniquely positioned to provide full service, collaborative solutions to publicly-traded and private companies, financial sponsors and investors at every stage of the business life cycle. With approximately 100 professionals in 14 offices across the U.S. in Arizona, California, Florida, Georgia, Missouri, New York, Texas and Utah, GlassRatner provides B. Riley with additional market presence in addition to its depth and breadth of services offered.

Perry Mandarino, Co-Head of Investment Banking and Head of Restructuring at B. Riley FBR commented: “GlassRatner is a clear reflection of the strategic ensemble that has been built and housed under B. Riley Financial. B. Riley FBR and its clients have benefitted from the various resources that are encompassed by this firm, but have also contributed to our affiliates’ successes who have leveraged our own expertise. GlassRatner brings a solid foundation that can help B. Riley Financial companies, like B. Riley FBR and Great American Group, better serve our clients, and allows us to help them better serve theirs. I’m excited to welcome them as a part of this unique platform.”

In July 2018, B. Riley and GlassRatner were recognized during the 10th Annual Turnaround Atlas Awards presented by the Global M&A Network. Additionally, Perry Mandarino and Ian Ratner were listed among Global M&A Network’s list of Top 100 Turnaround & Restructuring Professionals for 2018.

“This recognition for both firms, as well as for Perry and Ian, is reflective of the individual talent that manifests within these companies. It’s an honor to have these individuals and groups recognized and I am excited to see what the combination of talent will bring across B. Riley,” added Riley.

B. Riley won awards for Out-of-Court Restructuring of the Year, Community Revival Turnaround of the Year, and Cross Border Special Situation M&A Deal of the Year. GlassRatner won the awards for Valuation Service Provider of the Year and Refinancing Deal of the Year.

B. Riley FBR served as financial adviser and lead arranger on the deal. Cole Schotz P.C. served as legal counsel to B. Riley Financial. Arnall Golden Gregory LLP served as legal counsel to GlassRatner.

For more information, visit www.brileyfin.com and www.glassratner.com.