LOS ANGELES, Dec. 05, 2017 (GLOBE NEWSWIRE) -- 2017 – B. Riley FBR, Inc. (“B. Riley FBR”), a leading full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), served as the exclusive sell-side advisor to O-Tex Holdings, Inc. (“O-Tex”). O-Tex and its operating subsidiaries were acquired by C&J Energy Services, Inc. (“C&J”) (NYSE:CJ), a leading provider of oilfield services to oil and gas exploration and production companies in the U.S., in a cash and stock transaction. The total consideration paid by C&J was approximately $132.5 million in cash (subject to customary post-closing adjustments) and 4.42 million shares of C&J common stock. The acquisition closed on November 30, 2017.
O-Tex is the fourth largest provider of oilfield cementing services in the United States, with eight field offices, eight lab facilities and one of the youngest fleets in the industry. O-Tex specializes in both primary and secondary downhole specialty cementing services in most major shale plays within the United States. The combination of O-Tex and C&J transforms C&J’s cementing business into one of the largest and most competitive in the country.
About B. Riley FBR, Inc.
B. Riley FBR, Inc. is a leading investment bank which provides corporate finance, research and sales and 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 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 FBR, Inc., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC (which includes B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.
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