LOS ANGELES, August 31, 2023 - B. Riley Securities,
Inc. ("B. Riley"), a leading middle
market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq:
RILY), is pleased to have served as the exclusive financial advisor to
AllOver Media ("AllOver"), a portfolio company of Shoreview
Industries, in connection with its acquisition of Boxi.
AllOver is the leading multi-platform OOH advertising company in the U.S.,
serving a wide range of corporate and government customers and industries,
including consumer packaged goods, beer and alcohol brands, the entertainment
industry and more. The acquisition will enable AllOver Media's truck
advertising division to bolster existing offerings with industry leading
technology, inventory and value for marketers in any market, segment or media
budget. Read more about AllOver here.
Boxi is a California-based tech-infused truck media company. Since its
inception in 2017, Boxi has grown to be the nation's largest truck media
company, servicing customers across industries such as wine and spirits,
consumer packaged goods, food and beverage and more. The company's proprietary
solution and 24/7 access dashboard allows clients to keep up to date with their
campaigns' progress. Boxi's innovative approach to truck advertising has
propelled it to the top spot in the truck advertising space. Read more about
Boxi here.
Jeff Griffing, CEO of AllOver Media, said, "It's impossible to ignore the
amount of people on roadways today, and we see this trend as an opportunity to
aggregate those eyeballs into advertising impressions for our customers. You
cannot ad block or change the channel on a 26' box truck with a beautiful brand
message that is next to you on the road. We're excited to combine the proven
impact of large format truck messages with 24/7 customer measurement
technology."
"Having bootstrapped Boxi from a tiny Santa Monica apartment a mere six
years ago, I'm proud to say our team now wraps over a thousand trucks a year
with customer messages," said Neal Pecchenino, CEO of Boxi. "B. Riley
understood our concerns kicking off a transaction process and had keen
knowledge in identifying the optimal partner."
"We are thrilled to have worked with ShoreView on another transaction and
congratulate them and the Boxi team on an exciting partnership. This
combination is a testament to the technological shift we're seeing in the OOH
market and advertisers' desire to meet the consumer where they are,"
commented Bryant Yu, Managing Director at B. Riley Securities. Yu continued,
"Neal is a remarkable, young entrepreneur. He built a national advertising
platform from the ground up, and we're proud to have been part of his
story."
Clay Bryan, Sr. Managing Director, Financial Sponsors Group at B. Riley
Securities, added, "Our practice is focused on delivering enduring partnerships
and sound strategic advice to our sponsor and corporate clients alike. I am
excited to see this value enhancing transaction come to fruition for AllOver
Media and Boxi."
Please contact Bryant Yu, Managing
Director, at (310) 405-7027, for more information regarding this transaction.
About B. Riley Securities
B. Riley has served as a preeminent fixture in middle market brokerage and
investment banking for over 25 years. We provide a full suite of investment
banking and capital markets services to companies, financial sponsors, and
institutional investors across all industry verticals. Investment banking
services include initial, secondary and follow-on offerings, institutional
private placements, merger and acquisition (M&A) advisory, SPACs, corporate
restructuring and recapitalization. Widely recognized for our thematic
proprietary equity research, clients benefit from B. Riley's extensive network,
industry expertise, and proven execution capabilities of our end-to-end
financial services platform. B. Riley Securities is a subsidiary of B. Riley
Financial (Nasdaq: RILY). For more information, visit www.brileysecurities.com.
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