B. Riley and Capital Recovery Group To Conduct A Series Of Sales Across Multiple Locations On Behalf Of The AMES Companies
Portfolio Pulse from Benzinga Newsdesk
B. Riley Financial, Inc. (RILY) and Capital Recovery Group are conducting sales and auctions of complete wood mills and plant machinery for The AMES Companies, a subsidiary of Griffon Corporation (GFF). The sales include real estate and equipment from AMES's operations in New York, Ohio, Pennsylvania, and Iowa. The auctions, starting December 12, will offer sawmill operations, injection molding machines, CNC machinery, and more, extending into mid-2024.
November 13, 2023 | 10:02 pm
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NEUTRAL IMPACT
Griffon Corporation's subsidiary AMES is selling its wood mill operations and machinery, which could indicate a strategic shift or need for capital.
The sale of AMES's assets could be part of a strategic shift or a move to raise capital. The short-term impact on GFF's stock is uncertain as it depends on investor perception of the reasons behind the sales.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 70
POSITIVE IMPACT
B. Riley Financial is conducting sales and auctions for AMES, which could generate revenue from these activities.
B. Riley's involvement in the sales and auctions of AMES's assets could lead to increased revenue from service fees, which may positively impact its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80