B. Riley Financial has finalized a $200 million deal with Oaktree Capital Management to form a partnership for its Great American Group businesses. The transaction, which closed on November 15, 2024, involved B. Riley contributing its Appraisal and Valuation Services, Retail, Wholesale & Industrial Solutions, and Real Estate businesses to a new entity, Great American NewCo.Under the agreement, Oaktree affiliates received approximately 52.6% of Great American NewCo's Class A Common Units and all Class A Preferred Units for $200 million. B. Riley retained about 44.2% of Class A Common Units and 93.2% of Class B Preferred Units. The deal structure includes specific liquidation preferences and governance arrangements. B. Riley used part of the proceeds to reduce its Nomura credit facility balance to $125 million.B. Riley expects to report a gain of approximately $235 million in Q4 2024 from this transaction. The partnership aims to leverage Great American Group's 30-year track record in valuation, appraisal, asset disposition, and real estate services, with Oaktree's expertise expected to drive future growth.

B. Riley Financial has finalized a $200 million deal with Oaktree Capital Management to form a partnership for its Great American Group businesses. The transaction, which closed on November 15, 2024, involved B. Riley contributing its Appraisal and Valuation Services, Retail, Wholesale & Industrial Solutions, and Real Estate businesses to a new entity, Great American NewCo.Under the agreement, Oaktree affiliates received approximately 52.6% of Great American NewCo's Class A Common Units and all Class A Preferred Units for $200 million. B. Riley retained about 44.2% of Class A Common Units and 93.2% of Class B Preferred Units. The deal structure includes specific liquidation preferences and governance arrangements. B. Riley used part of the proceeds to reduce its Nomura credit facility balance to $125 million.B. Riley expects to report a gain of approximately $235 million in Q4 2024 from this transaction. The partnership aims to leverage Great American Group's 30-year track record in valuation, appraisal, asset disposition, and real estate services, with Oaktree's expertise expected to drive future growth.