LOS ANGELES, Sept. 3, 2019 /PRNewswire/ -- B. Riley Financial,
Inc. (NASDAQ: RILY) ("B. Riley") today announced its investment
banking subsidiary, B. Riley FBR, Inc., served as exclusive
financial advisor to PCM, Inc. (NASDAQ: PCMI) ("PCM") in connection
with its completed sale to Insight Enterprises (NASDAQ: NSIT)
("Insight"). The transaction, which closed on August 30, 2019, was valued at approximately
$581 million and represents Insight's
largest acquisition to date. B. Riley FBR's deal team was led by
Senior Managing Director Ryan J.
Bernath, Director Chobun Hieblinger, and Associate Andre La
Brec.
"We were pleased to represent PCM in its sale to Insight," said
Ryan J. Bernath, Senior Managing
Director, B. Riley FBR. "This transaction is a testament to our
role as a leading advisor to public company management teams and
Boards of Directors in evaluating opportunities to maximize
shareholder value. The technology vertical is one where we continue
to deploy significant resources as a firm, providing us with the
critical domain expertise to advise on meaningful transactions such
as the Insight and PCM combination."
Insight is a Fortune 500-ranked global provider of digital
innovation, cloud and data center transformation, connected
workforce, and supply chain optimization solutions. Insight's
acquisition of PCM positions the combined companies for future
growth and increased scale through an expanded global salesforce
and a broader suite of technology solutions offerings.
"We were pleased to work with B. Riley FBR on the sale of PCM to
Insight. The team demonstrated deep knowledge of our business and
helped guide us through this significant transaction. The
combination of Insight and PCM not only allows us to provide
greater value to our clients, but also to our shareholders, and we
look forward to the opportunities ahead for our employees,
customers and partners," said Frank
Khulusi, Chairman and CEO, PCM.
B. Riley FBR is a subsidiary of B. Riley Financial which
provides corporate finance, research and sales and 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 services, and corporate restructuring.
The firm is nationally recognized for its highly ranked proprietary
equity research.
To learn more, visit www.brileyfbr.com.
About B. Riley Financial
B. Riley Financial provides
collaborative financial services tailored to fit the capital
raising and business advisory needs of public and private companies
and high-net-worth individuals. B. Riley operates through several
wholly-owned subsidiaries which offer complementary end-to-end
capabilities spanning investment banking and institutional
brokerage, private wealth and investment management, corporate
advisory, restructuring, due diligence, forensic accounting and
litigation support, appraisal and valuation, and auction and
liquidation services. Certain registered affiliates of B. Riley
originate and underwrite senior secured loans for asset-rich
companies. The Company also makes proprietary investments in
companies and assets with attractive return profiles. For more
information, visit www.brileyfin.com.
Media Contact
Jo Anne
McCusker
B. Riley Financial
jmccusker@brileyfin.com
(646) 885-5425
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SOURCE B. Riley Financial