M&A Deal Summary

B. Riley Financial Acquires Wunderlich Securities

On May 18, 2017, B. Riley Financial, Inc. acquired financial services company Wunderlich Securities, Inc. from Altamont Capital Partners for 67M USD

Acquisition Highlights
  • This is B. Riley Financial’s 1st transaction in the Financial Services sector.
  • This is B. Riley Financial’s 3rd largest (disclosed) transaction.
  • This is B. Riley Financial’s 2nd transaction in the United States.
  • This is B. Riley Financial’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2017-05-18
Target Wunderlich Securities, Inc.
Sector Financial Services
Buyer(s) B. Riley Financial, Inc.
Sellers(s) Altamont Capital Partners
Deal Type Add-on Acquisition
Deal Value 67M USD
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Baker, Donelson, Bearman, Caldwell & Berkowitz PC (Legal)

Target

Wunderlich Securities, Inc.

Memphis, Tennessee, United States
website
Wunderlich Securities, Inc. offers comprehensive wealth management services to individuals, families, corporations and non-profit organizations.

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Buyer(S) 1

Buyer

B. Riley Financial, Inc.

Los Angeles, California, United States

website


Category Company
Founded 1973
SectorFinancial Services
Employees996
Revenue 903M USD (2020)
DESCRIPTION

B. Riley Financial, Inc. is a provider of financial and business advisory services. B. Riley Financial was founded in 1973 and is based in Los Angeles, California.


DEAL STATS #
Overall 2 of 6
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Tennessee) 1 of 1
Country (United States) 2 of 6
Year (2017) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-04 United Online, Inc.

Woodland Hills, California, United States

United Online, Inc. is a provider of consumer products and services over the Internet.

Buy $170M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-09 magicJack

West Palm Beach, Florida, United States

magicJack is a provider of carrier-class voice over Internet protocol (VoIP) and convergence solutions for fixed and wireless communication service providers. The Company’s main product offering, the magicJack, provides a low-cost alternative to consumers and businesses seeking additional phone lines or local carrier alternatives. magicJack was established in 1989 and is based in West Palm Beach, Florida.

Buy $143M

Seller(S) 1

SELLER

Altamont Capital Partners

Palo Alto, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2010
PE ASSETS 2.5B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Altamont Capital is a private equity group focused on acquiring US-based middle-market companies. The Firm has a particular interest in companies undergoing a transition, either operational or strategic, in which Altamont believes it can help navigate. Altamont can invest up to $100 million of equity per transaction and looks for businesses with EBITDA up to $50 million. The Firm prefers control transactions and targets a range of transaction types, including corporate carve-outs, build-ups, take-privates, and founder transitions. Sectors of interest include business services, financial services, industrials, healthcare, consumer, retail, restaurants, franchising, and technology. Altamont Partners was formed in 2010 and is based in Palo Alto, California.


DEAL STATS #
Overall 3 of 9
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 2 of 6
State (Tennessee) 1 of 1
Country (United States) 3 of 8
Year (2017) 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-12 Maxi Canada, Inc.

Saint-Lin Laurentides, Quebec, Canada

Maxi Canada, Inc. is a manufacturer of processed, frozen chicken products, based near Montreal Quebec. It is a supplier to retail and foodservice markets in the U.S. and Canada. Lake Pacific provided financing to recapitalize this family business and expand manufacturing capacity.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-01 CBBC Holdings, Inc.

Lakeland, Florida, United States

Colorado Boxed Beef is a distributor of refrigerated and frozen products. Company supply to customers with the finest beef, pork, poultry, lamb, veal, seafood, cheese, vegetables, lunch meat, and a variety of dry products. Colorado Boxed Beef was founded in 1975 and is based in Lakeland, Florida.

Buy -