B. Riley & Co. and Friend & Company Combine to Form One of California's Largest Independent Full Service Securities Brokerage Firms.Business Editors LOS ANGELES--(BUSINESS WIRE)--July 30, 2003 New Research, Trading and Investment Banking Platform to Continue Focus on Underserved Small-to-Mid Cap Public and Private Companies B. Riley & Co., a leading regional institutional research and securities brokerage firm, today announced that it will be combining its business with that of Southern California-based Friend & Company, an institutional investment banking firm. Founded in 1997, B. Riley & Co. has built a reputation for providing proprietary, fundamentals-driven research on small- and mid-cap companies. B. Riley's analysts routinely seek out companies that exhibit exceptional, yet often overlooked, upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar . Friend & Company, which was founded in 1984, provides investment banking products and services to emerging and growth-oriented middle-market companies. The combination of the two firms will create a formidable and competitive organization offering a broad array of investment products and services. "The opportunity to team up with Friend & Company was timely. We have increasingly noticed a gap in the small-cap banking market that had the effect of being detrimental to shareholder value. Friend & Company's extensive experience in this marketplace will allow us to pursue selective banking opportunities to help fill this gap," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bryant Riley, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of B. Riley & Co. "We continue to see the West Coast investment banking market contract as competitors shut down or exit as a result of industry consolidation or poor business models. This combination makes us well positioned to fill this significant void in the small-to-mid cap market," commented Gregory E. Presson, Chairman and CEO of Friend & Company. Friend & Company (formerly L.H. Friend, Weinress, Frankson & Presson, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ) will become a division of B. Riley & Co. and will continue to operate from its headquarters in Irvine, CA. All of Friend & Company's investment banking principals and employees will continue with this new division. The combined companies will have nearly 50 professionals. B. Riley also maintains offices in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Dallas and Austin. B. Riley & Co. is a Southern California-based firm providing research and trading ideas primarily to institutional investors. Founded in 1997, the Company has forged a reputation for providing proprietary, unbiased, fundamentals-driven analyst coverage of companies that are "off the radar screen" of most Wall Street firms. Over the past five years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time firm's model portfolio has generated annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. returns of better than 25%. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion