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."
EA Markets Securities LLC acted as the exclusive financial advisor and placement agent to Eleven James on the debt transaction.
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:
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SOURCE Great American Capital Partners, LLC