B. Riley Asset Management Acquires Rights to Manage Dialectic Hedge Funds
- Press Release
B. Riley Acts as Exclusive Financial Advisor to Affinity Medical Technologies in Connection with its Corporate Sale to Molex Incorporated
Los Angeles, CA, November 2, 2012-- B. Riley & Co., LLC, (“B. Riley”) www.brileyco.com, a leading independent investment bank providing a full array of corporate finance, research, sales and trading services, announced that it served as exclusive financial advisor to Affinity Medical Technologies, LLC (“Affinity”) in its acquisition by Molex Incorporated (NASDAQ: MOLX, MOLXA), (“Molex”). Terms of the transaction, which closed October 10, 2012, are confidential.
B. Riley initiated, structured and negotiated the transaction on behalf of Affinity and its shareholders. The B. Riley transaction team was led by Senior Managing Director Greg Presson and Senior Vice President Adam Little. Senior Associate Grant Hustedt supported the effort.
“Our selection of B. Riley to represent Affinity was based on the firm’s keen perspectives into the dynamics of the medical interconnect industry, clear understanding of the Company’s value proposition and extensive experience in completing corporate sale transactions. Their skillful management and execution of the transaction was exceptional,” said Mary Phillipp, founder and CEO of Affinity.
"B. Riley's active M&A involvement in the medical device sector has allowed us to gain valuable insight into which strategic corporate buyers and private equity groups are actively pursuing acquisitions of growth oriented companies similar to our client," said Greg Presson.
“The completion of this transaction continues to underscore our increasing commitment to middle market corporate clients who seek effective and timely capital market access,” said Bryant Riley, Chairman of the investment bank.
About Affinity Medical Technologies:
Affinity Medical Technologies, based in Costa Mesa, CA. is a leading developer, manufacturer and marketer of advanced medical device interconnect systems, including medical cables, connectors, lead wires and cable assemblies. The Company's wide array of product offerings is seamlessly integrated into its customers’ products and provide for the real-time query, protection and reliable transmission of critical patient information at the site of use. Affinity sells its highly engineered products to numerous world class industry leading medical device manufacturers around the globe.
Affinity Medical Technologies was founded in 1997 by Mary Phillipp and Robert Frank and is privately held.
About Molex Incorporated:
Providing more than connectors, Molex delivers complete interconnect solutions for a number of markets including data communications, telecommunications, consumer electronics, industrial, automotive, medical, military, lighting and solar. Established in 1938, the company operates 41 manufacturing locations in 16 countries.
About B. RILEY & CO.
B. Riley & Co. is a leading independent investment bank which provides a full array of corporate finance, research, sales, trading and otcqx dad services to corporate, institutional and high net worth individual clients. Investment banking services include merger and acquisitions advisory to public and private middle market companies, initial and secondary public offerings and institutional private placements. Its Corporate Governance Advisory Services Group is engaged by both companies and investors to help maximize value for shareholders. The firm is recognized for its distinguished Equity Research. Founded in 1997, B. Riley is headquartered in Los Angeles and maintains offices in Newport Beach, San Francisco, Boston and New York. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com
SOURCE: B. Riley & Co., LLC
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