LOS ANGELES, Dec. 11, 2018 (GLOBE NEWSWIRE) -- B. Riley FBR, Inc. (“B. Riley FBR”), a leading full service investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), served as the exclusive financial advisor to Advanced Workplace Strategies, Inc. (“AWSI”) in its all cash sale to DISA Global Solutions (“DISA”). Terms of the transaction, which closed November 1, 2018, were not disclosed.
Headquartered in Tustin, CA, privately-held AWSI is a third-party administrator and provider of workforce screening solutions, which delivers outsourced coordination and management of drug and alcohol testing, background checks, scheduling of medical services, and other employee verification services to a variety of industries. With a core focus on serving the Oil & Gas sector and other safety-sensitive industries, and as a trusted partner of several Fortune 500 companies, AWSI offers compliance management solutions, customer support, and a personalized approach to address the unique needs and requirements of its customers.
B. Riley FBR assisted in structuring and negotiating this transaction on behalf of AWSI and its shareholders. The B. Riley FBR transaction team was led by investment bankers Greg Presson, Grant Hustedt, and Grayson Largman.
“Our selection of B. Riley FBR to represent AWSI was based on their impressive reputation and transactional experience within the compliance and public safety markets. After being introduced by another local senior executive who had several successful M&A experiences with B. Riley FBR serving as financial advisor, B. Riley FBR distinguished themselves as the clear choice to advise our company,” said AWSI founder, Joe Gonzalez. “The firm’s history of advising privately-held, family-owned businesses and proven track record for maximizing shareholder value further established B. Riley FBR as the right partner to represent AWSI.”
“We are proud of our team and the business we’ve built together at AWSI over the last 28 years. Our growth prospects become even more exciting as a member of the DISA family given the enhanced capabilities created through this partnership,” added Mike Gonzalez, AWSI General Manager. “We were very impressed with the level of due diligence the team performed to understand our shareholders’ objectives, business model, and served markets. B. Riley FBR delivered flawless execution and skillful management throughout the entire corporate sale process.”
“B. Riley FBR’s active M&A involvement within the B2B services and workforce compliance sectors allows us to continually gain valuable insight into which private equity groups and strategic buyers are pursuing acquisitions of top performing companies in the industry,” said Greg Presson, Senior Managing Director, B. Riley FBR. “After performing substantial buyer due diligence and market research, it became clear to us that a combination of these two organizations would result in the most meaningful future growth opportunities and market share gains.”
For more information regarding this transaction, please contact:
Greg Presson – (949) 250-5500 or gpresson@brileyfbr.com.
Grant Hustedt – (949) 250-5516 or ghustedt@brileyfbr.com.
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, and corporate restructuring. The firm is nationally recognized for its highly ranked proprietary equity research. For more information, visit www.brileyfbr.com.
About B. Riley Financial, Inc. (NASDAQ:RILY)
B. Riley Financial, through its subsidiaries, provides collaborative financial services and solutions tailored to fit 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, a full-service investment bank and institutional brokerage; Great American Group, a leading provider of asset disposition, appraisal, corporate advisory and valuation services; GlassRatner, a specialty financial advisory services and consulting firm; B. Riley Wealth Management, B. Riley Asset Management and B. Riley Alternatives, which offer investment management to institutional and high net worth investors; Great American Capital Partners, which originates and underwrites senior secured loans for asset-rich companies; and B. Riley Principal Investments, which invests in or acquires companies and assets with attractive return profiles.
Media Contact:
Jo Anne McCusker
B. Riley Financial
Media Relations
jmccusker@brileyfin.com
(646) 885-5425