B. Riley Financial, a diversified financial services platform, acquired the corporate division of Farber Group, a Toronto-based restructuring and business advisory firm.
Farber provides corporate restructuring and related advisory services, M&A corporate finance, wealth management, interim management and executive search, human capital advisory, organizational and talent development and related consulting services to corporate clients, entrepreneurs, law firms, lenders, private equity firms, regulators and investors across Canada.
In connection with the acquisition, Farber’s corporate division will become part of B. Riley Advisory Services. The acquisition adds 45 staff, including 16 experienced restructuring professionals, to B. Riley’s established restructuring and turnaround management practice. The Canadian practice will operate under the name B. Riley Farber. Farber’s consumer and tax divisions are not included in this transaction and will continue to service their clients in the normal course.
“The Farber acquisition represents an exciting addition for B. Riley,” Ian Ratner, co-CEO of B. Riley Advisory Services, said. “This is a world-class organization with whom we have enjoyed a long-standing relationship for over 15 years. We look forward to growing our capabilities and collective foothold across the North American market alongside our trusted partner.”
“We are thrilled to become part of B. Riley,” Gary Lifman, senior managing director at Farber, said. “This combination catapults our firm into a class of its own. Together, our combined resources and scale enable us to offer our clients greater expertise, experience, and industry specialization. Our established trust, aligned cultures and shared values allow us to seamlessly collaborate to provide greater value to our stakeholders. As part of B. Riley, our focus remains dedicated to providing the same superior service our clients have known for years.”
Farber’s interim management and executive search practice, along with its human capital and organizational development advisory services, complement B. Riley’s interim management services in which the firm is appointed interim CEO, CFO or Chief Restructuring Officer (CRO) for clients navigating a restructuring. These complementary offerings facilitate the sourcing, retention and development of executive talent to support clients across North America, whether for growth or distressed situations.
The integration of the firms’ resources and capabilities extends B. Riley’s appraisal, valuation, litigation support and forensic services to Farber clients, and provides a foundation with which to expand corporate finance capabilities in Canada and provide Canadian clients access to U.S. capital markets.
As founding members of BTG Global Advisory, an international network of restructuring advisors, this combination builds upon the firms’ existing partnership and provides greater opportunities to serve clients across geographies through direct collaboration on cross-border engagements. Farber is also a member of IIC Partners, a global network of search firms with a strong footprint in the Americas. This global network allows Farber to collaborate on executive search and human capital advisory mandates and other cross-border opportunities.
Arnall Golden Gregory acted as legal advisor to B. Riley, and Goodmans served as legal counsel to Farber.
