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Monday, May 27, 2024

B. Riley Subsidiary Negotiates South Coast Acura Sale

GlassRatner, a subsidiary of B. Riley Financial Inc. in Woodland Hills, announced Thursday that it advised Coast Mesa car dealer Orange Coast Auto Group in its acquisition of Costa Mesa-based South Coast Acura. GlassRatner Principal Michael Issa worked with Andy Coyle of Laguna Classic Cars to arrange the deal. Issa said many small dealerships such as South Coast Acura are looking to sell instead of competing with larger operations. “Profitability is a huge issue for a lot of dealerships, and many owners considering selling their operation worry that they’d never get a return on their investment based on their current balance sheet,” Issa said in a statement. “We maximize value by taking a variety of criteria into consideration and can often negotiate a deal resulting in a tremendous amount of value for the seller.” Shares of B. Riley (RILY) rose 15 cents, or a fraction of a percent, on Friday to close at $22.95 on the Nasdaq.

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