B. Riley Financial Inc. (NASDAQ: RILY), a diversified provider of business advisory and financial services, has acquired FocalPoint Securities LLC, an independent investment bank, for $175 million.
FocalPoint specializes in M&A, private capital advisory financial restructuring and special situation transactions. The deal will provide strategic and financial sponsor clients with access to both firms’ capabilities and services from one platform.
“FocalPoint is a world class firm known for its ability to handle complex deals with speed, accuracy, and quality,” said Bryant Riley, chairman and co-CEO of B. Riley Financial. “This combination builds on our long and successful track record of acquiring and integrating other complementary businesses that can provide us with additional scale and capabilities to expand our small and middle market leadership.”
Sullivan & Cromwell LLP acted as legal counsel to B. Riley Financial. Sidley Austin LLP and Sheppard, Mullin, Richter and Hampton LLP served as legal counsel to FocalPoint. Houlihan Lokey served as financial adviser to FocalPoint.