LOS ANGELES (AP) -- B. Riley & Co. LLC is buying fellow investment bank Caris & Co. in a deal that will double its distribution capabilities.
Terms of the transaction were not disclosed.
Privately held B. Riley said Monday that the acquisition will also help expand its existing New York, San Francisco and Boston offices. The buyout also gives Los Angeles' B. Riley a presence in some new regional markets such as Atlanta.
Caris, which is based in San Diego, is also a privately held company. Its founder, Darren Caris, will take on the new role of director of capital markets, research, sales and trading.