Live Ventures Announces Appointment of Chief Operating Officer

Rhea-AI Summary

Live Ventures Incorporated (Nasdaq: LIVE) has appointed Eric Althofer as Chief Operating Officer and Managing Director for Corporate Finance, effective April 10, 2021. With over a decade of experience in capital markets and M&A, Althofer will lead the finance department and support the company’s growth through acquisitions. CEO Jon Isaac expressed confidence in Althofer's ability to contribute to the company's strategic vision. Althofer previously directed transactions at Capitala Investment Advisors and has a strong background in investment banking with Jefferies LLC.

Positive

• Appointment of Eric Althofer as COO expected to provide fresh perspectives and strengthen leadership.
• Althofer's extensive experience in capital markets and M&A transactions may enhance acquisition strategies.

Negative

• Concerns about potential continuity and experience gaps as a new executive joins the company.

LAS VEGAS, April 14, 2021 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE), a diversified holding company, announced that, effective April 10, 2021, Eric Althofer joined the company as Chief Operating Officer and Managing Director for Corporate Finance.

Mr. Althofer, 38, brings to his new responsibilities more than a decade of experience in capital markets and M&A transactions. As part of the company’s continued investment and growth through acquisitions, he will also oversee the Live Ventures finance department, where his track record of analyzing transactions will be leveraged.

Jon Isaac, Chief Executive Officer of Live Ventures, welcomed Althofer to the leadership team: “I’m delighted that Eric has joined Live Ventures. He is uniquely qualified for the role and will be a valuable contributor to implementing our strategic vision. On a personal note, we actually met on opposite sides of a business negotiation. I was so impressed with Eric's acuity and talent that I later spoke with him about a role with us.” 

Althofer most recently served as a director of Capitala Investment Advisors, joining the firm in 2014. His primary responsibilities included transaction screening, structuring and due diligence execution. Prior to joining Capitala, Mr. Althofer spent more than three years in investment banking with Jefferies LLC, working on more than twenty-five M&A, debt and equity transactions for consumer and retail companies.

Upon his appointment Althofer said, “I am excited to join the Live Ventures team and look forward to growing the company through its proven strategy of acquiring profitable middle market companies.”

Earlier in his career, Mr. Althofer served for four years as a strategy and operations consultant with Deloitte Consulting where he primarily focused on the healthcare and financial services industries. Althofer graduated cum laude from Washington University in St. Louis with a degree in Economics and received his M.B.A., with distinction, from the University of Michigan Ross School of Business with emphasis in Finance and Accounting.

About Live Ventures
Originally incorporated in 1968, Live Ventures Incorporated is a diversified holding company with several wholly owned subsidiaries and a strategic focus on acquiring profitable companies that have demonstrated a strong history of earnings power. Through its subsidiary Marquis Industries, the company manufactures and sells residential and commercial carpets primarily in North America. Marquis Industries also designs, sources and sells hard-surface flooring. Through its subsidiary Precision Marshall, the company manufactures and sells steel in four product categories: Deluxe Alloy Plate, Deluxe Tool Steel Plate, Precision Ground Flat Stock, and Drill Rod. Through its subsidiary Vintage Stock, an award-winning entertainment retailer, the company sells new and pre-owned movies, classic and current generation video games and systems, music on CD & LP, collectible comics, books, toys, and more. Vintage Stock, through its stores and website, ships product worldwide directly to the customer’s doorstep. Through its subsidiary Precision Industries, the company sells premium tool steels and specialty alloys. Through its subsidiary ApplianceSmart, the company sells new major household appliances in the United States through a company-owned retail store in Columbus, Ohio operating under the name ApplianceSmart®. All Live Ventures companies are rooted in their local communities where they contribute to the local economy and serve as responsible corporate neighbors.

Contact:
Live Ventures Incorporated
Tim Matula, Investor Relations
(425) 836-9035
tmatula@liveventures.com
http://liveventures.com
Source: Live Ventures Incorporated

FAQ

Who is Eric Althofer and what is his role at Live Ventures?

Eric Althofer has been appointed as Chief Operating Officer and Managing Director for Corporate Finance at Live Ventures, effective April 10, 2021.

What experience does Eric Althofer bring to Live Ventures?

Althofer brings over a decade of experience in capital markets and M&A, having previously worked at Capitala Investment Advisors and Jefferies LLC.

How might Eric Althofer's appointment impact Live Ventures?

His appointment could strengthen leadership and enhance the company's growth strategies through acquisitions.