B. Riley Financial launches review of strategic alternatives for Great American

B. Riley Financial announced that it has retained Moelis & Company LLC as an independent financial advisor to assist in its review of strategic alternatives for the company’s Appraisal and Valuation Services, and Retail, Wholesale & Industrial Solutions businesses, which could include a potential sale or other transaction. Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, commented: “Great American is a tremendous business with a strong management team that has successfully executed on a number of organic growth initiatives over the last 10 years. Our appraisal unit has delivered strong and steady recurring EBITDA year after year, and we believe this business is poised for meaningful growth. Strategic and financial buyers are looking to acquire specialized financial services that deliver robust free cash flow at attractive margins. As we’ve stated since the beginning, we use our balance sheet to acquire quality businesses that we can build over the long term. This is one example of many such businesses where significantly increased valuation is not reflected on our balance sheet, and we have the ability to unlock this value when it best serves our shareholders.”