B. Riley Asset Management Acquires Rights to Manage Dialectic Hedge Funds
- Press Release
Los Angeles, CA, March 24, 2014 -- 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 Aubrey Group, Inc. in its acquisition by Sparton Corporation (NYSE: SPA). Terms of the transaction, which closed March 17, 2014, were not disclosed.
B. RILEY initiated, structured and negotiated the transaction on behalf of Aubrey Group and its shareholders. The transaction team was led by Senior Managing Director Greg Presson, Director Chris Ankley and Vice President Grant Hustedt.
Schaumberg, Ill.-based Sparton Corporation has reported that Aubrey will continue to service its current and future customers out of its Irvine, CA location.
“A key factor in our selection of B. RILEY as financial advisor was the firm’s experience in the medical device sector,” said Tom Allen, Aubrey’s Chief Executive Officer. “B. RILEY’s expertise in and relationships within the medical device community proved tremendously valuable. Their team guided us through the process and provided insight into which strategic corporate buyers and private equity groups were actively pursuing acquisitions of companies similar to ours.”
Aubrey Group (www.aubreygroup.com) is a leading provider of contract design, development and manufacturing services for the medical device and life sciences industries. Aubrey carries significant expertise in therapeutic, surgical, patient monitoring and diagnostic product technologies.
Sparton Corporation (www.sparton.com) is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. The company currently has eight manufacturing locations and four engineering design centers worldwide.
About B. Riley & Co.:
B. Riley & Co., LLC (B. RILEY) is a leading, independent, investment bank which provides a full array of corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and merger and acquisitions advisory to public and private middle market companies. The firm is nationally recognized for its highly ranked proprietary equity research. Founded in 1997, B. RILEY is headquartered in Los Angeles and maintains offices in New York, San Francisco, Newport Beach, and Del Mar, California. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.
For more information on this transaction, contact:
B. Riley & Co., LLC
Senior Managing Director
The Orbach Company, Inc.