B. Riley Financial Acquires Interface Consulting International

Rhea-AI Summary

B. Riley Financial (NASDAQ: RILY) announced the acquisition of Interface Consulting International, a prominent engineering and construction consulting firm. Interface Consulting specializes in troubled projects, offering analysis, litigation support, and project planning. They serve a wide range of clients globally, including owners, contractors, attorneys, and insurers. This acquisition integrates Interface Consulting's expert team into B. Riley's Advisory Services, enhancing their forensic accounting and litigation support. Key leaders, Chris Sullivan and Lisa Sumner Heard, bring decades of experience in managing high-profile projects in engineering and construction, contributing strategic solutions and expertise to B. Riley's professional services platform.

Positive

• Enhancement of B. Riley's Forensic Accounting and Litigation Support practice through the addition of Interface Consulting's expert team.
• Expansion of B. Riley's professional services platform, offering a full suite of services including forensic accounting, investment banking, and advisory.
• Integration of highly experienced professionals, with over 35 years of experience in engineering, project management, and consultancy.
• Strategic advantage from Interface Consulting's global experience, having supported projects in over 60 countries.
• Potential for increased revenue from expanded service offerings and enhanced client solutions.

Negative

• Potential financial strain due to integration costs and acquiring Interface Consulting's assets.
• Possible challenges in integrating Interface Consulting's team and services into B. Riley's existing operations.

Adds Industry-Leading Team of Consultants to B. Riley Advisory Services, Enhances Platform's Continuum of Professional Services

LOS ANGELES and HOUSTON, July 8, 2024 /PRNewswire/ -- B. Riley Financial, Inc. (Nasdaq: RILY) ("B. Riley") today announced it has acquired the assets of Interface Consulting International, Inc. ("Interface Consulting"), a leading engineering and construction consulting and expert services firm.

B. Riley Financial acquires Interface Consulting, industry leading expert services and dispute resolution firm

Interface Consulting specializes in troubled projects, from providing in-depth analysis and expert testimony in litigation, arbitration, mediation, and disputes, to project planning guidance and execution. The firm serves a variety of clients involved in the engineering and construction process including owners, contractors, attorneys, engineers, insurers, and suppliers. This team of highly qualified consultants has experience assisting in large, complex domestic and international capital projects and has supported client matters in over 60 countries on nearly every continent including Africa, Australia, Asia, Europe, North America, and South America.

Through the acquisition, Interface Consulting joins B. Riley Advisory Services, adding another industry-leading practice to the firm's continuum of professional services. Interface Consulting's team of professionals, led by Chris Sullivan, President, and Lisa Sumner Heard, Executive Vice President, brings decades of experience advising clients on complex construction and engineering projects.

Ian Ratner, co-CEO of B. Riley Advisory Services, commented: "Interface Consulting is a highly regarded expert services and dispute resolution firm with a decades-long track record of delivering exceptional service to its clients across the construction and engineering space. We are thrilled to welcome our newest colleagues to B. Riley. This team is an exciting addition with which to further enhance our Forensic Accounting and Litigation Support practice as we expand our professional services platform to address our clients' most critical objectives."

Chris Sullivan, President of Interface Consulting, added: "We are proud of the legacy we have built over nearly 40 years and are excited for a bright future as part of B. Riley. Our clients have come to rely on the multidisciplined field experience and expert insight of our team to navigate challenging matters. Interface Consulting has expertise in construction claim and litigation support, including providing expert testimony in court and arbitration. Many of our consultants have worked on capital projects throughout the engineering, procurement, construction, and start-up phases, and this hands-on experience benefits our clients by providing industry-leading analysis and insight. The combination of our firms enhances the strategic solutions we offer through access to a full suite of services spanning forensic accounting, investment banking, advisory, and much more. We look forward to contributing to B. Riley's continued success as we carry on our tradition of providing superior claims management and expert services to our clients across the industries we serve."

Mr. Sullivan has over 35 years of experience in engineering and project management in the U.S. and abroad. As a specialist in the commercial and technical aspects of project management, throughout his career, he has been engaged on several high-profile engineering and construction projects involving refineries, chemical plants, petrochemical and industrial facilities, oil and gas facilities, power plants, pipelines, and commercial buildings. His expertise in contract execution includes project development, engineering, procurement, construction, and project controls. Ms. Heard has over 35 years of experience in the marketing, management, and operations of a professional services and expert advisory firm. Her work has included providing quality service in managing client engagements, building relationships within the construction and legal industries, and providing strategic insight on the issues affecting contractors, owners, and attorneys.

About Interface Consulting
Interface Consulting is a leading construction consulting firm providing a portfolio of professional support services, including claims management and analysis, project advisory, and litigation and arbitration support, to a wide range of clients involved in the engineering and construction process. For more information, visit www.interface-consulting.com.

About B. Riley Advisory Services
B. Riley Advisory Services is a leading provider of specialty business advisory services that works with law firms, lenders, 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 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. For more information, visit www.brileyadvisoryservices.com.

About B. Riley Financial
B. Riley Financial (Nasdaq: RILY) is a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. B. Riley opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies.

B. Riley refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates. For more information, please visit www.brileyfin.com and follow us on LinkedIn and on X (formerly known as Twitter).

Media Contact
Jo Anne McCusker
B. Riley Financial, Inc.
press@brileyfin.com
(646) 885-5425

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SOURCE B. Riley Financial

FAQ

What company did B. Riley Financial (RILY) acquire in July 2024?

B. Riley Financial acquired Interface Consulting International, an engineering and construction consulting firm.

How will the acquisition of Interface Consulting impact B. Riley's services?

The acquisition will enhance B. Riley's forensic accounting and litigation support, expanding their professional services platform.

Who are the key figures from Interface Consulting joining B. Riley?

Chris Sullivan, President, and Lisa Sumner Heard, Executive Vice President, are key leaders from Interface Consulting joining B. Riley.

What is the specialization of Interface Consulting acquired by RILY?

Interface Consulting specializes in troubled projects, providing analysis, litigation support, and project planning in the engineering and construction sectors.

What are the potential challenges B. Riley might face with the Interface Consulting acquisition?

Potential challenges include financial strain from integration costs and the difficulty of integrating the new team and services.