B. Riley Financial Sells Advisory Services Business, GlassRatner Advisory & Capital Group And B. Riley Farber Advisory To Funds Managed By TorQuest Partners For $117.8M
Benzinga Newsdesk 1 year ago
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Company Expects to Record Gain on Sale of Approximately $66 Million in Q2 Financial ResultsLOS ANGELES, June 27, 2025 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ:RILY) ("BRF" or the "Company"), a diversified
Company Expects to Record Gain on Sale of Approximately $66 Million in Q2 Financial Results
LOS ANGELES, June 27, 2025 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ:RILY) ("BRF" or the "Company"), a diversified financial services company, today announced it has sold its advisory services business, GlassRatner Advisory & Capital Group, LLC (dba B. Riley Advisory Services) and B. Riley Farber Advisory Inc. (collectively "GlassRatner"), to funds managed by TorQuest Partners ("TorQuest") for $117.8 million.
BRF expects to record a gain on the sale of GlassRatner, which it acquired in August 2018, of approximately $66 million.