West L.A. boutique investment bank B. Riley & Co. has completed its merger with liquidation and inventory-lending company Great American Group Inc., the companies announced Wednesday.
Great American of Woodland Hills will issue 4.2 million shares and exchange them for 100 percent of the stock of privately held B. Riley. Great American Group and B. Riley will operate collectively under a publicly traded holding company.
The two companies had total revenue of about $102 million last year and an operating profit of about $13.5 million. Together, they will have about 250 employees.
Bryant Riley, who is both the founder and majority shareholder in B. Riley and a member of the Great American board, will be chief executive of the combined company. Great American co-founder and Chief Executive Andrew Guraer will continue to lead his side of business, which will operate separately.
Great American shares were down 2 percent to $8.20 in Thursday trading on the over-the-counter market.