B. Riley Financial buys automotive restructuring firm Alderney Advisors

06 July 2020 Consulting.us

B. Riley Financial, a Los Angeles-based diversified financial services company, has acquired Alderney Advisors, a Detroit-based turnaround and restructuring firm focusing on the automotive industry.

Founded in 2013 by Alicia Masse, Alderney delivers services in strategic advisory, supply risk management, financial restructuring and turnaround, transaction advisory, and dispute resolution to the automotive manufacturing and supplier industry.

The firm has supported major automakers in North America, Europe, and Asia, as well as lenders, investors, and municipalities. Alderney has 11 employees listed on LinkedIn, and has offices in Detroit and New York City.

Founder Alicia Masse previously served as Midwest restructuring leader at EY US before starting her own consulting firm. Before EY, she was a senior managing director at BBK, a boutique automotive sector restructuring firm. Earlier in her career, Masse was the finance operations manager for North America at Ford Motor Company Finance and an audit manager at Arthur Andersen. She holds an MBA from the University of Michigan.

B. Riley Financial buys automotive restructuring firm Alderney Advisors

“The acquisition of Alderney serves as a perfect example of our strategic efforts and continued progress to enhance the B. Riley platform,” said Bryant Riley, chairman and co-CEO of B. Riley. “This team of experienced advisors provides complementary advisory services and deepens our in-house automotive industry expertise, while broadening our market presence and professional network.”

B. Riley’s acquisition of Alderney will expand its financial advisory consulting capabilities. Through a number of subsidiaries, the approximately 1,000-person company offers services in investment banking and institutional brokerage, wealth management, corporate advisory, due diligence and valuation, forensic accounting, and restructuring.

B. Riley will combine Alderney with its subsidiary GlassRatner Advisory and Capital Group, which it acquired in 2018 to establish a dedicated business consulting vertical. GlassRatner offers advisory services in bankruptcy, restructuring, forensic accounting, and litigation to clients primarily in real estate, healthcare, and automotive. The addition of Alderney expands its US office count to 19 locations.

“Alderney has built a stellar reputation of providing sound financial and strategic solutions to clients facing high-risk, high-stakes complex situations, and we could not be more excited to welcome this team to GlassRatner,” said Ian Ratner, principal and co-founder of GlassRatner. “Not only does this combination continue to enhance our amazing restructuring practice, it also adds a terrific office in Detroit to our national footprint.”


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