LOS ANGELES, Jan. 11, 2017 /PRNewswire/ -- Great American
Capital Partners, LLC (GACP), a wholly owned subsidiary of B. Riley
Financial Inc. (NASDAQ: RILY), has entered into an agreement
with Eleven James™, Inc., to provide a $20 million senior secured term loan to be used
for general corporate purposes to support the
company's continued growth. Eleven James is revolutionizing
the luxury goods market with its pioneering "Discover, Experience
and Share" platform that optimizes access, variety and value in
luxury consumption.
John Ahn, President of GACP
commented: "We are excited to partner with Eleven James and to play
an important role in their continued growth and success."
Said Randy Brandoff, Founder and
CEO of Eleven James, "The successful capital raise validates Eleven
James' business model, affirms its commitment to top-notch
management, internal systems and controls, and firmly establishes
our position as a leader in democratizing access to luxury goods
and experiences. We appreciate the time and effort GACP committed
to partnering with us and supporting our business."
Olivier Reza, Chairman of Eleven
James added: "Now that we have secured the requisite financial
resources, Eleven James is empowered to realize its vision
of becoming the ultimate destination for a new, modern
era in luxury experience."
About Eleven James, Inc.
Eleven JamesTM Inc. is a pioneering experience
platform that provides Dynamic AccessTM –
"Discover, Experience and Share" - to an unrivaled collection of
luxury timepieces. Members also have access to a myriad of
personalized benefits and services, as well as exclusive events and
experiences. For more information, please visit
www.ElevenJames.com.
About Great American Capital Partners, LLC
GACP, a division of B. Riley Capital Management, an SEC
Registered Investment Advisor and a wholly owned subsidiary
of B. Riley Financial, Inc. (NASDAQ: RILY), originates
and underwrites senior secured loans across a wide array of
industries. GACP is dedicated to providing opportunistic and
responsive capital to the underserved middle market.
B. Riley Financial, Inc. is a publicly traded, diversified
financial services company which takes a collaborative approach to
the capital raising and financial advisory needs of public and
private companies and high net worth individuals. The Company
operates through several wholly-owned subsidiaries,
including B. Riley & Co.,
LLC (www.brileyco.com), Great American Group,
LLC (www.greatamerican.com), and B. Riley Capital
Management, LLC (which also includes B. Riley Asset Management
(www.brileyam.com) and B. Riley Wealth Management,
(www.brileywealth.com)). The Company also makes proprietary
investments in other businesses, such as the acquisition
of United Online, Inc. (www.untd.com) in July 2016,
where B. Riley Financial, Inc. is uniquely positioned to
leverage its expertise and assets in order to maximize value.
Great American Capital Partners contact:
John Ahn
jahn@gacapitalpartners.com
(310) 689-2215
Robert Louzan
rlouzan@gacapitalpartners.com
(203) 663-5101
Brad Huge
bhuge@gacapitalpartners.com
(310) 689-5226
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SOURCE Great American Capital Partners, LLC