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B. Riley Acquires Corporate Division of Farber Group, Leading Business Advisory Firm in Canada

February 22, 2023, 07:43 AM
Filed Under: Mergers & Acquisitions

B. Riley Financial announced that it has acquired the corporate division of Farber Group (‘Farber”), a Toronto-based restructuring and business advisory firm.

Farber provides corporate restructuring and related advisory services, M&A corporate finance, wealth management, interim management and executive search, human capital advisory, organizational and talent development and related consulting services to corporate clients, entrepreneurs, law firms, lenders, private equity firms, regulators, and investors across Canada.

In connection with the acquisition, Farber’s corporate division will become part of B. Riley Advisory Services. The acquisition adds 45 staff, including 16 experienced restructuring professionals, to B. Riley’s established restructuring and turnaround management practice. The Canadian practice will operate under the name B. Riley Farber. Farber’s consumer and tax divisions are not included in this transaction and will continue to service their clients in the normal course.

Ian Ratner, co-CEO of B. Riley Advisory Services, commented: “The Farber acquisition represents an exciting addition for B. Riley. This is a world-class organization with whom we have enjoyed a long-standing relationship for over 15 years. We look forward to growing our capabilities and collective foothold across the North American market alongside our trusted partner.”

Gary Lifman, Senior Managing Director at Farber, commented: “We are thrilled to become part of B. Riley. This combination catapults our firm into a class of its own. Together, our combined resources and scale enable us to offer our clients greater expertise, experience, and industry specialization. Our established trust, aligned cultures, and shared values allow us to seamlessly collaborate to provide greater value to our stakeholders. As part of B. Riley, our focus remains dedicated to providing the same superior service our clients have known for years.”

Expands New and Complementary Financial Consulting Services; Increases Cross-Border Opportunities

Combined, B. Riley and Farber creates a leading North American financial restructuring and business advisory firm. With new and expanded capabilities, this combination mutually benefits B. Riley’s and Farber’s clients in the U.S., Mexico, and Canada.

Farber’s interim management and executive search practice, along with its human capital and organizational development advisory services, complement B. Riley’s interim management services in which the firm is appointed interim CEO, CFO, or Chief Restructuring Officer (CRO) for clients navigating a restructuring. These complementary offerings facilitate the sourcing, retention, and development of executive talent to support clients across North America, whether for growth or distressed situations.

The integration of the firms’ resources and capabilities extends B. Riley’s appraisal, valuation, litigation support and forensic services to Farber clients, and provides a foundation with which to expand corporate finance capabilities in Canada and provide Canadian clients access to U.S. capital markets.

As founding members of BTG Global Advisory, an international network of restructuring advisors, this combination builds upon the firms’ existing partnership and provides greater opportunities to serve clients across geographies through direct collaboration on cross-border engagements. Farber is also a member of IIC Partners, a global network of search firms with a strong footprint in the Americas. This global network allows Farber to collaborate on executive search and human capital advisory mandates and other cross-border opportunities.

The addition of Farber builds on prior successful investments to expand B. Riley’s financial consulting segment including its acquisition of GlassRatner in 2018, and its acquisition of an automotive restructuring firm, Alderney Advisors, in 2021.

Arnall Golden Gregory LLP acted as legal advisor to B. Riley, and Goodmans LLP served as legal counsel to Farber. Financial terms of the transaction were not disclosed.

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