B. Riley & Co. and FBR Capital Markets & Co. have merged and will now be known as B. Riley FBR Inc., it was announced Wednesday.
B. Riley and FBR are both owned by B. Riley Financial Inc., in Woodland Hills. The combined investment banks focus on small cap companies.
B. Riley Financial acquired FBR Capital Markets early this year in a deal valued at $160 million.
Bryant Riley, chief executive of B. Riley Financial, said the firm will offer clients unequaled access to small cap companies and those who invest in them.
“We are committed to continuing to invest in building upon the firm's market leadership and its deep industry and capital markets expertise,” Riley said in a prepared statement.
Shares in B. Riley Financial (RILY) closed unchanged Wednesday at $16.65 on the Nasdaq.