B. Riley Financial Announces Sale of Atlantic Coast Recycling, LLC for $70 Million in Cash Proceeds
B. Riley Financial (NASDAQ: RILY) has announced the completion of the sale of Atlantic Coast Recycling, for $70 million in cash proceeds. The transaction is expected to generate a gain of approximately $30 million in the first quarter. The company's Principal Investments team had initially invested about $39 million in the business, making it a profitable venture for B. Riley.
B. Riley Financial (NASDAQ: RILY) ha annunciato il completamento della vendita di Atlantic Coast Recycling per un importo di 70 milioni di dollari in proventi in contante. Si prevede che la transazione genererà un guadagno di circa 30 milioni di dollari nel primo trimestre. Il team di Investimenti Principali della società aveva inizialmente investito circa 39 milioni di dollari nell'attività, rendendola un'operazione redditizia per B. Riley.
B. Riley Financial (NASDAQ: RILY) ha anunciado la finalización de la venta de Atlantic Coast Recycling por un total de 70 millones de dólares en ingresos en efectivo. Se espera que la transacción genere una ganancia de aproximadamente 30 millones de dólares en el primer trimestre. El equipo de Inversiones Principales de la compañía había invertido inicialmente alrededor de 39 millones de dólares en el negocio, lo que lo convierte en una empresa rentable para B. Riley.
B. Riley Financial (NASDAQ: RILY)는 Atlantic Coast Recycling의 판매 완료를 발표했습니다. 현금 수익으로 7000만 달러에 해당합니다. 이 거래는 첫 분기 동안 약 3000만 달러의 이익을 창출할 것으로 예상됩니다. 회사의 주요 투자 팀은 이 사업에 약 3900만 달러를 초기 투자하여 B. Riley에게 수익성 있는 사업이 되었습니다.
B. Riley Financial (NASDAQ: RILY) a annoncé l'achèvement de la vente de Atlantic Coast Recycling pour un montant de 70 millions de dollars en recettes en espèces. La transaction devrait générer un gain d'environ 30 millions de dollars au cours du premier trimestre. L'équipe des Investissements Principaux de la société avait initialement investi environ 39 millions de dollars dans l'entreprise, en faisant une opération rentable pour B. Riley.
B. Riley Financial (NASDAQ: RILY) hat den Abschluss des Verkaufs von Atlantic Coast Recycling für 70 Millionen Dollar in Barerlösen bekannt gegeben. Es wird erwartet, dass die Transaktion im ersten Quartal einen Gewinn von etwa 30 Millionen Dollar generiert. Das Team für Hauptinvestitionen des Unternehmens hatte ursprünglich etwa 39 Millionen Dollar in das Geschäft investiert, was es zu einem profitablen Unternehmen für B. Riley macht.
- Sale generates $70M cash proceeds
- Expected $30M gain in Q1 2025
- 79% return on initial $39M investment
- Divestment reduces recurring revenue streams
Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, commented: "Atlantic Coast Recycling has been a profitable investment for our Principal Investments team, which invested approximately
About B. Riley Financial
B. Riley Financial is a diversified financial services company that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its subsidiaries and affiliated entities, B. Riley provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. B. Riley opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. B. Riley refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliated companies. For more information, please visit www.brileyfin.com.
Forward-Looking Statements
Statements made in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of today's date. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to update forward-looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company, including, but not limited to, the risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's 2023 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable). These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and the Company undertakes no duty to update this information.
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SOURCE B. Riley Financial
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