Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, March 11, 2022

Article Excerpt

B. RILEY FINANCIAL INC., $63.42, symbol RILY on New York, is a diversified provider of financial services, including investment banking, wealth management, venture capital, and many others. Its focus is on small- and mid-cap companies. Founded in 1997, it went public in 2014. On January 18, 2022, B. Riley announced the acquisition of FocalPoint Securities, LLC for $175 million in cash. FocalPoint is a Los Angeles-based independent investment bank. The firm has 50 investment banking professionals specializing in aerospace and defence, industrials, business services, consumer, healthcare, and technology/media/telecom. Since its founding 20 years ago, FocalPoint has closed over $17 billion in merger and acquisition transactions. Acquiring FocalPoint is expected to more than quadruple B. Riley’s mergers and acquisitions advisory business—and especially with the small and middle-market companies it focuses on. In the quarter ended December 31, 2021, B. Riley’s revenue increased 2.9%, to $422.1 million from $410.2 million a year earlier. Excluding one-time items, B. Riley’s earnings in the quarter were $80.7 million, or…