B. Riley Advisory Services Named Turnaround Consulting Firm of the Year at 12th Annual Turnaround Atlas Awards

LOS ANGELES, Jan. 27, 2021 /PRNewswire/ -- B. Riley Advisory Services, a leading provider of specialty financial consulting services and solutions, and subsidiary of B. Riley Financial (NASDAQ: RILY) ("B. Riley"), is pleased to announce it was named Middle Market Turnaround Consulting Firm of the Year for its outstanding leadership in restructuring. The firm was also awarded in several individual deal categories at the 12th Annual Turnaround Atlas Awards hosted by Global M&A Network.

Ian Ratner, Co-Chief Executive Officer of B. Riley Advisory Services said, "We are extremely proud and honored to receive the 2020 Atlas Award for Turnaround Consulting Firm of the Year. This achievement validates B. Riley's position as a global restructuring leader and recognizes the deep trust our clients place in us to help navigate their most complex, mission-critical strategic objectives. We could not be more excited to celebrate this accomplishment with our colleagues, valued clients and trusted partners."

In addition to its recognition as Turnaround Consulting Firm of the Year, B. Riley received awards for its respective roles in the following bankruptcy and restructuring matters.

Power & Utilities Restructuring of the Year (Mid-Market)
B. Riley served as financial advisor to Agera Energy, a power and gas retail energy provider, throughout its Chapter 11 restructuring process in the Southern District of New York, ultimately facilitating the successful sale of its assets. The engagement was led by Tom Buck and Wayne Weitz.

Special Situation M&A Deal of the Year (Mid-Market)
B. Riley served as financial advisor to the Official Committee of Unsecured Creditors in the Aceto Pharmaceuticals Chapter 11 bankruptcy in the District of New Jersey and related sale of its chemical business and pharma assets. The engagement was led by Joe Pegnia, Mark Shapiro and Tom Buck, and resulted in a material recovery for unsecured creditors.

Energy Services Restructuring of the Year (Mid-Market)
B. Riley served as financial advisor to the Official Committee of Unsecured Creditors in Shale Support's Chapter 11 in the Southern District of Texas. The manufacturer of proppant sand for the fracking industry successfully reorganized in under four months, ultimately preserving recovery for unsecured creditors. The engagement was led by Scott Van Meter, Mark Shapiro and Wayne Weitz.

B. Riley's experienced team of professionals has played a critical role in complex bankruptcy, fiduciary and restructuring assignments all over the U.S. This senior-led team of advisors applies absolute focus on assignment execution to every matter – no matter how big or small. To learn more about B. Riley Advisory Services restructuring and turnaround management capabilities, visit our website.

About B. Riley Advisory Services
B. Riley Advisory Services is a leading provider of specialty financial consulting services and solutions to address complex business problems and board-level agenda items. B. Riley serves as a trusted advisor to lenders, law firms, private equity sponsors and companies of all types on business challenges such as planning and executing a major acquisition or divestiture, pursuing a fraud investigation or corporate litigation, or managing through a business crisis or bankruptcy. The firm offers a unique mix of valuation and appraisal services including asset-based lending (ABL) valuations, restructuring and turnaround management, forensic accounting and litigation support and transaction support services including due diligence and quality of earnings reviews. B. Riley Advisory Services is a subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY).

B. Riley Financial provides collaborative financial services solutions tailored to fit the capital raising, business, operational, and financial advisory needs of its clients and partners. B. Riley operates through several subsidiaries which offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, corporate advisory, restructuring, due diligence, forensic accounting, 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. B. Riley also makes proprietary investments in companies and assets with attractive return profiles. For the latest news and developments, follow B. Riley on Twitter @BRileyFinancial and on LinkedIn. For more information, visit www.brileyfin.com.

B. Riley refers to B. Riley Financial and/or one or more of its subsidiaries or affiliates. For more information about B. Riley's affiliated companies, visit www.brileyfin.com/platform.

SOURCE B. Riley Financial