LOS ANGELES, Nov. 2, 2016 /PRNewswire/ -- B. Riley & Co., LLC (B. Riley), a full-service independent investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), served as the exclusive financial advisor to Bio-Medical Devices (BMD) in connection with the sale of its Syntech De Baja California division to Stryker, one of the world's leading medical technology companies. The terms of the transaction were not disclosed.
BMD, a privately held family of companies that operate as a leading healthcare technology platform, develops and manufactures products used for personal respiratory and contact protection and other specialized surgical devices. Through its Syntech De Baja California division located in Tijuana, Mexico, BMD has been the exclusive manufacturer of disposable hoods and togas for Stryker's Steri-shield® Personal Protection Equipment for more than two decades.
B. Riley structured and negotiated the transaction on behalf of Bio-Medical Devices. The B. Riley deal team was led by Managing Director Michael Lowell and Vice President Grant Hustedt.
"We are very pleased to announce this closing. Nick and his partners have built an exceptional business over the past several decades, while having established a long and highly successful history manufacturing products for Stryker and its Steri-shield® Personal Protection Equipment product line in the process," said Lowell. "We thank Bio-Medical Devices for selecting us as their financial advisor and allowing us to assist them in this sale to Stryker."
"B. Riley's strong sector expertise, successful history working with both privately-held and publicly-traded businesses, meaningful experience advising on cross-border M&A deals, as well as its proven track record of maximizing shareholder value, were all key factors in distinguishing B. Riley as the right choice to represent us in this transaction." said Nick Herbert, CEO and Co-Founder of Bio-Medical Devices. "Mike and Grant worked diligently in advising us over the course of this corporate sale process while structuring a favorable outcome for all parties involved. We are exceptionally pleased with the results of this process."
About B. Riley & Co.
B. Riley & Co., LLC is a leading investment bank which provides 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 services. The firm is nationally recognized for its highly ranked proprietary equity research. B. Riley & Co., LLC is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.
B. Riley Financial, Inc. (NASDAQ: RILY) provides collaborative financial services and solutions through several subsidiaries, including: Great American Group, LLC, a leading provider of advisory and valuation services, asset disposition and auction solutions; B. Riley Capital Management, LLC, an SEC registered Investment Advisor, which includes B. Riley Asset Management, a provider of investment products to institutional and high net worth investors, and B. Riley Wealth Management (formerly MK Capital Advisors), a multi-family office practice and wealth management firm focused on the needs of ultra-high net worth individuals and families; and Great American Capital Partners, a provider of senior secured loans and second lien secured loan facilities to middle market public and private U.S. companies. B. Riley Financial, Inc. is headquartered in Los Angeles with offices in major financial markets throughout the United States and Europe. For more information on B. Riley Financial, Inc., please visit www.brileyfin.com.
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SOURCE B. Riley & Co., LLC