The combined venture will operate out of offices in New York, Boston, Columbus, OH and Los Angeles. It will be managed by Scott Bernstein, former president of SB Capital Group, and Stephen G. Miller, founder and former president and CEO of 360 Merchant Solutions. Jay Schottenstein will serve as chairperson.
In addition to liquidation and asset realization services, SB360 will provide financing solutions for mid-market companies and advisory services for retail and wholesale businesses and lenders. Other business units of SB360 will focus on real estate advisory and commercial real estate investments, as well as operating SBC Logistics’ Asset Recovery Center in Columbus.
“Our companies have been working together for years, so this was the next logical step of our growth,” Bernstein said. “360 has always been recognized for the strength and expertise of their merchants and we’re excited about bringing everybody into one organization.”
“Today’s retail environment is tough,” Miller said. “We often see companies when it’s too late, but we would like to help companies before they reach that point. SB360 is well positioned to guide companies to overcome the difficult challenges they may face.”