Upon completion, B. Riley is set to receive approximately $203m in cash. Credit: Pavel Kapysh/Shutterstock.

B. Riley Financial has agreed to divest Great American Group, which provides asset valuation services, to Oaktree Capital Management.  

The transaction is valued at $386m and is aimed at reducing B. Riley’s debt and enhancing its financial position. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Under the agreement, B. Riley and Oaktree will create Great American Holdings, a new holding company (Great American NewCo).  

Prior to the new company’s formation, which B. Riley will reorganise internally and its Great American Group will be consolidated into Great American NewCo. 

The division being sold comprises the appraisal and valuation services, retail, wholesale & industrial solutions, and real estate advisory businesses. 

Upon completion, B. Riley is set to receive approximately $203m in cash, subject to adjustments, and preferred and common units in Great American NewCo.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

These include Class B Preferred Units with an initial liquidation preference of around $183m and Class A Common Units representing a 47% stake. 

Oaktree, on the other hand, will acquire Class A Preferred Units and Class A Common Units of Great American NewCo, amounting to a 53% interest in the common units.  

The strategic move is anticipated to address investor concerns regarding B. Riley’s performance and mitigate the impact of its exposure to Franchise Group, the parent company of Vitamin Shoppe. 

B. Riley chairman and co-CEO Bryant Riley said: “As we communicated last month, this transaction is an important step in our plan to reduce our debt while reinvesting in our core financial services businesses.  

“We are very excited about this new partnership we established with Oaktree in the Great American Group as it will enable meaningful debt reduction while retaining significant equity upside in the business with a highly capable new partner that will increase its future growth prospects.”  

The board of directors of B. Riley has approved the deal, which now awaits regulatory approvals and the satisfaction of other customary closing conditions, with an expected closure in the fourth quarter of 2024.