News

News

GlassRatner Welcomes Automotive Veteran, Marc Spizzirri, as Senior Managing Director

LOS ANGELES, Nov. 20, 2018 (GLOBE NEWSWIRE) -- GlassRatner Advisory & Capital Group, LLC, a specialty financial advisory services firm and wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), announced today that industry veteran Marc Spizzirri joined the firm’s West Coast advisory team, as Senior Managing Director. Spizzirri will assume a leadership position within the firm's highly regarded West Coast auto dealership consulting and transaction practice, focusing on buy-side, sell-side transactions and restructuring in the retail and automotive sectors.

“We’re seeing increasing interest from long-time dealers interested in monetizing their dealership assets in tax-efficient transactions,” said J. Michael Issa, California’s Managing Principal for GlassRatner. “Marc’s exceptional background in the automotive and retail space will complement our award-winning West Coast advisory team.”

The Irvine office of GlassRatner has been at the forefront of numerous high profile automotive dealership transactions, often featuring owners struggling with complex tax and financial issues requiring nuanced expertise. Most recently, in Orange County, Issa’s automotive team participated in the sale of South Coast Acura to Orange Coast Auto Group. Previously, they successfully negotiated the sale of assets of two Land Rover and Jaguar dealerships via auctions, resulting in goodwill consideration of approximately $9 million for the debtors, one of the highest prices ever paid for Jag Rover dealerships out of bankruptcy.

With more than 30 years of automotive and retail experience, Spizzirri brings a strong automotive industry background to GlassRatner. Previously, he served as President of a multi-franchise automotive group in 1990 and acquired his first franchised dealership in 1992. Throughout his career, Spizzirri has owned seven franchised automotive dealerships, two motorcycle franchises and an internationally recognized classic car dealership with total annual sales reaching $400 million. Additionally, Spizzirri has also served as the Chairman of the Ford Dealer Council.

“GlassRatner’s ability to provide their customers with a complete range of advisory and transactional services truly puts them in a league of their own,” said Spizzirri. “It’s an honor to join this prestigious firm.”

About GlassRatner
GlassRatner, a B. Riley Financial company, is a national specialty financial advisory services firm providing solutions to complex business problems and Board level agenda items. The firm applies a unique mix of skill sets and experience to address matters of the utmost importance to an enterprise such as managing through a business crisis or bankruptcy, pursuing a fraud investigation or corporate litigation, planning & executing a major acquisition or divestiture, unraveling a challenging real estate issue and other top level non-typical business challenges. GlassRatner can also offer clients end-to-end services at any stage during the business life cycle through B. Riley Financial. The combination of proven operating and financial expertise, cross-platform resources, a hands on approach and an absolute focus on assignment execution makes GlassRatner a unique and valuable ally for its clients and partners.

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 
jmccusker@brileyfin.com  
(646) 885-5425