B.Riley Financial, a business advisory and financial services company, launched B. Riley Financial Sponsors Group. Dan Kraft and Tim Bottrell will lead the group as co-directors of financial sponsors coverage.
B. Riley Financial’s Great American Group, SB360 Capital Partners and Tiger Capital Group are closing store sales at an additional 17 Sur La Table retail locations.
B. Riley Financial completed the acquisition of substantially all of the assets of Alderney Advisors, a business advisory services firm based in the greater Detroit region.
GA Global Partners, a B. Riley Financial company, will conduct an online public auction of the assets of Second Sight Medical Products on June 25. GA Global is conducting the auction of Second Sight’s assets in connection with the orderly wind down of its operations.
BRF Finance, an affiliate of B. Riley Financial, committed to provide Tuesday Morning with $25 million of debtor-in-possession financing as required by the company’s current $100 million DIP agreement with its existing lender group.
GA Global Partners will conduct a live virtual public auction of the assets of Steel Partners on June 4. GA Global Partners is conducting the auction by order of the U.S. Bankruptcy Court in the District of Nevada.
According to an 8K, Bank of America is the administrative agent for an amended credit agreement for Babcock & Wilcox. In addition, B. Riley Financial provided $30 million of new tranche A last-out term loans and committed to provide additional last-out term loans to B&W.
Barneys New York has secured approximately $218 million in new financing from Brigade Capital Management and B. Riley Financial to facilitate a going concern sale process.
B. Riley Financial added Myles Scott to B. Riley Wealth Management as senior vice president and Michael McConnell to B. Riley FBR as managing director, Investment Banking.
B. Riley FBR, a full service investment bank and wholly-owned subsidiary of B. Riley Financial, has entered into a credit agreement with Babcock & Wilcox Enterprises, a global supplier of energy and environmental technologies and services which has been in operation for more than 150 years. B. Riley FBR served as lead arranger for a $150 million secured financing via a last out term loan for B&W.