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B. Riley Financial Closes Acquisition of FBR & Co.

June 1, 2017

B. Riley Financial, a diversified financial services company, has completed its acquisition of FBR & Co., a leading investment banking and brokerage firm. The acquisition was originally announced in February.  [See, 2/21/17]


Bryant Riley, Chairman and CEO of B. Riley Financial, will continue to head the firm, while Richard Hendrix, FBR's Chairman and CEO, has assumed the role of CEO of the combined investment banking and brokerage business. FBR common shares will cease trading on the Nasdaq.


ABOUT FBR & CO.    Founded in 1989, FBR & Co. has a strong, well-established track record as a full-service investment bank with approximately 260 employees. FBR provides investment banking, M&A advisory, institutional brokerage, and research services. The combined entity will have offices throughout the U.S., including in NY, LA, SF, SF, Boston, Dallas, Houston and the greater Washington, DC metro region.


ABOUT B. RILEY FINANCIAL.    B. Riley Financial (RILY) is a publicly traded, diversified financial services company addressing capital raising and financial advisory needs of public and private companies and high net worth individuals.  The Company operates through several wholly-owned subsidiaries, including B. Riley & Co., a FINRA-licensed B/D; Great American Group, provider of advisory and valuation services, asset disposition and auction solutions, commercial lending, and real estate advisory services; B. Riley Capital Management (which includes B. Riley Asset Management, a SEC-RIA providing investment products to institutional and high net worth investors, and B. Riley Wealth Management, a multi-family office practice and wealth management firm; Great American Capital Partners, a provider of senior secured loans and second lien secured loan facilities to middle market public and private U.S. companies; and B. Riley Principal Investments, a group that makes proprietary investments in other businesses.