Tuesday, March 11, 2025
Friends and Partners,
This is a transformative day for
our team as earlier this morning, B. Riley Financial (BRF) announced a
carve-out transaction that enables our firm, B. Riley Securities (BRS), to
operate with independent governance, a separate shareholder base, and distinct
financial transparency. After listening to your feedback over the past
several quarters, we pursued this structural solve to both address your
concerns and to ensure our platform remains your preferred partner in the
middle market. We are thrilled to share what we've been working so hard
to deliver, and fully expect you'll find the new BRS enormously accretive to
our entire client-partner network.
We write to you today with a
completely debt free, well-capitalized balance sheet that we intend to
weaponize on our clients' behalf. With the added strategic benefit of
BRF's 89% pro forma ownership of BRS, and its related capital access, be assured
we have more significant resources still to be called upon for the benefit of
our entire client set. We are continuing to hire in key areas like
Research, Investment Banking, and Sales Trading.
In the eight years since
integrating FBR into the B. Riley platform, BRS has proven to be THE go-to
investment bank for middle-market expertise. During this period, we led more
than 250 capital markets transactions, raised over $115B in debt and equity for
our clients, and advised on M&A and Restructuring transactions exceeding
$33B in aggregate value. We are making a difference and helping the middle
market community thrive.
We look forward to continuing to
work together during your organization's most pivotal milestones, and
appreciate you taking a moment out of your day to learn about one of
ours. We're excited to share more in the days and weeks ahead and are
eager to host the corporate and investor community at our 25th Annual
Conference this May in Marina Del Rey.
Warmly,
Andy Moore, Chairman and Co-Chief Executive Officer
& Jimmy Baker, Co-Chief Executive Officer