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Stout Risius Ross, Inc. and HFBE Inc. Announce Merger

September 10, 2012

Chicago, IL / September 10, 2012 -- Stout Risius Ross, Inc. (SRR), a financial advisory firm specializing in Investment Banking, Valuation & Financial Opinions, and Dispute Advisory & Forensic Services, and HFBE Inc. (HFBE), a Texas-based Valuation and Investment Banking firm, announce their merger effective September 1, 2012.

SRR, with its historically strong presence in the Midwest and on the coasts, and HFBE, with its strong presence in Texas and the South, are a perfect fit. In addition to the expanded geographical footprint provided by the merger, the combination of the two firms broadens the availability of resources for both firms' clients.

SRR and HFBE share high standards for client service while seeking to create rewarding career opportunities for their employees.  This similarity in culture was a large part of the two firms’ decision to merge.

“We see one of the major factors of a successful merger as forming a shared culture,” said Craige Stout, Chairman and CEO of SRR.  “We have so many key qualities in common, and yet are excited for what we can learn from HFBE’s management and staff and, in turn, what they might be able to learn from our professionals as we combine to form one firm.”

“Additionally, we always want to attract the best professionals to SRR," Stout said. "By broadening our horizons and geographical reach, we are reinforcing that our employees can have a long and diverse career with SRR."

Given the vision of HFBE’s leadership, and supported by their experience in key industries including oil & gas and real estate, merging with SRR will allow them to offer an even more extensive range of services to their clients.

“We believe this merger provides us with an extraordinary opportunity to better serve the expanding needs of our clients,” said Alex Howard, President at HFBE.  “Joining with SRR will give us access to national resources that will benefit our clients in Texas and beyond.  Additionally, we will now be able to offer new or expanded services, including business dispute and intellectual property expert witness services, fraud & forensic services, family law valuation & consulting, electronic discovery services, and investment banking that both complement and greatly expand our current offerings.”

Mike Kern (SRR’s President) and Toby Reiff (a Director in SRR’s Chicago office), have relocated to Houston to ensure a successful integration of the two firms' cultures and services.

About Stout Risius Ross, Inc.

SRR is an independent, financial advisory firm specializing in Investment Banking, Valuation & Financial Opinions, and Dispute Advisory & Forensic Services. We serve a range of clients from Fortune 500 corporations to privately held companies in numerous industries around the world. Our clients and their advisors rely on our premier expertise, deep industry knowledge, and unparalleled responsiveness on complex financial matters.  For more information, visit www.SRR.com.

About HFBE Inc. 

HFBE provides valuation and investment banking services to private and closely held businesses. HFBE specializes in valuations for corporate purposes, tax compliance, and financial reporting. HFBE also provides merger and acquisition advisory services, fairness opinions, private placement assistance, and other investment banking services to middle-market companies with an industry focus on energy and real estate.  Securities transactions are conducted through HFBE Capital, LP (member FINRA/SIPC), an affiliate of HFBE Inc.

SRR is a trade name for Stout Risius Ross, Inc. and Stout Risius Ross Advisors, LLC, a FINRA registered broker-dealer and SIPC member firm.

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