BRC Group Holdings, Inc. (RILY): M&A transaction — B. Riley closes Great American Group sale to Oaktree for ~$200M cash; expects $235M Q4 gain

BRC Group Holdings, Inc.

Oaktree affiliates paid ~$200M for a 52.6% stake in Great American NewCo; B. Riley retains ~44.2% of common units and ~93.2% of Class B preferred.
B. Riley used ~$93M of proceeds to pay down its Nomura credit facility, reducing the balance to $125M.
B. Riley expects to record a ~$235M gain on the transaction in Q4 2024 financial results.
The Great American Group operates as an independent business providing valuation, appraisal, asset disposition and real estate services.
B. Riley retains Class B Preferred Units with initial liquidation preference of ~$183M and about 47% of common units.

item 1.01 item 2.01 item 7.01 item 9.01 item 6.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BRC Group Holdings, Inc. completed a disposition involving OCM SSF III Great American PT, L.P., Opps XII Great American Holdings, LLC, and VOF Great American Holdings, L.P. (affiliates of Oaktree Capital Management, L.P.) for approximately $200 million (closed 2024-11-15).

Action: disposition
Counterparty: OCM SSF III Great American PT, L.P., Opps XII Great American Holdings, LLC, and VOF Great American Holdings, L.P. (affiliates of Oaktree Capital Management, L.P.)
Consideration: approximately $200 million
Closing: 2024-11-15

Exact text from the filing

(the “Class A Common Units ”) representing approximately 52.6% of the issued and outstanding Class A Common Units in Great American NewCo for a purchase price of approximately $200 million. At the Closing, BR Financial retained (a) approximately 93.2% of the issued and outstanding class B preferred limited liability company units of Great American NewCo (which have

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BRC Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-100986

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