BRC Group Holdings RILYN

BRC Group Holdings, Inc. is a diversified holding company offering a platform of businesses spanning financial services, telecom, retail, and investments in equity, debt, and venture capital. The core financial services platform provides small cap and middle market companies with customized end-to-end solutions at every stage of the enterprise life cycle. The complementary banking business delivers services in capital markets, sales, trading, research, merchant banking, M&A, and restructuring. The wealth management business offers wealth management and financial planning services including brokerage, investment management, insurance, and tax preparation. Telecom businesses provide consumer and business services such as traditional, mobile and cloud phone, internet and data, security, and email. Consumer products and retail companies deliver mobile computing accessories and home furnishings. Through its investment business, the company deploys capital inside and outside its core financial services operations to generate shareholder value via opportunistic investments in companies or assets with attractive risk-adjusted returns, focusing on operational improvements to maximize free cash flow. BRC Group Holdings, Inc. is headquartered in Los Angeles, California, and maintains offices throughout the United States and in India.

Revenue is generated through fees and commissions from investment banking and institutional brokerage services, interest income from direct lending activities, and returns from proprietary trading and investment portfolios. The wealth management segment earns revenue from retail brokerage, investment management fees, insurance commissions, and tax preparation services. Telecom segments derive income from subscription services for voice, broadband, and managed security offerings. The consumer products segment generates revenue from the design, manufacture, and sale of laptop and tablet cases, backpacks, docking stations, and computer accessories under the Targus brand. Additional revenue comes from strategic investments and monetization of assets, including proceeds from divestitures of non-core businesses.

The company operates through the following segments: Capital Markets, Wealth Management, Lingo, magicJack, Marconi Wireless, UOL, and Consumer Products.

• The Capital Markets segment provides investment banking and institutional brokerage services to publicly traded and privately held companies, institutional investors, and financial sponsors. It offers direct lending services to middle market companies and trades equity securities as a principal for its own account, including investments in funds managed by its subsidiaries. The segment maintains an investment portfolio of public and private equities and debt securities and opportunistically provides loans to clients and other borrowers. Its value-oriented investment approach is a core competency of its capital markets strategy. The segment also provides consulting, capital raising, and investment banking services for companies where BRC may have significant influence through equity ownership or board representation.

• The Wealth Management segment delivers retail brokerage, investment management, insurance, accounting, and tax preparation services to individuals and families, small businesses, non-profits, trusts, foundations, endowments, and qualified retirement plans through a boutique private wealth and investment management firm. Experienced financial advisors offer investment management, retirement planning, education planning, wealth transfer and trust coordination, and lending and liquidity solutions. Investment strategists provide strategies and real-time market views to help clients make informed financial and investment decisions. Assets under management in this segment totaled approximately $13.0 billion as of December 31, 2025. On April 4, 2025, the company sold a portion of its wealth management business representing 36 financial advisors with approximately $4.0 billion in assets under management as of the transaction close.

• The Lingo segment, comprising Lingo Management, LLC and its subsidiary Bullseye Telecom, operates as a global cloud/unified communications and managed service provider for enterprise and small to medium businesses in the United States. It primarily re-sells Plain Old Telephone Services (POTS), Broadband data services, and Managed Security services, in addition to Cloud Voice, POTS Alternative, and business collaboration communication services.

• The magicJack segment, consisting of magicJack VoIP Services, LLC and related subsidiaries, is a non-interconnected Voice-over-IP (VoIP) cloud-based communications service provider offering related devices and subscription services within the United States and Canada. Its services enable subscribers to stay connected at low costs.

• The Marconi Wireless segment, through Marconi Wireless Holdings, LLC, functions as a mobile virtual network operator providing mobile phone voice, text, and data services and devices under the Credo Mobile brand.

• The UOL segment, via United Online, Inc., offers dial-up and digital subscriber line (DSL) services under the NetZero and Juno brands across the United States. It also provides paid and free e-mail subscription services that generate advertising revenues.

• The Consumer Products segment is comprised of Tiger US Holdings, Inc. Group (Targus), a multinational company that designs, manufactures, and sells consumer and enterprise productivity products with a large business-to-business customer base and global distribution in over 100 countries. The Targus product line includes laptop and tablet cases, backpacks, universal docking stations, and computer accessories.

BRC Group Holdings, Inc. operates in highly competitive industries across all its business lines. In financial services, it competes with other investment banks, bank holding companies, brokerage firms, merchant banks, and financial advisory firms. Larger, more diversified competitors may have advantages in capital base, geographic reach, and ability to recruit talent. The company’s focus on small- and mid-cap companies subjects it to competition from specialty firms and boutique investment banks. In telecom, it faces competition from numerous broadband and dial-up providers, wireless and satellite services, cable companies, and broadband resellers. The consumer products segment competes with original equipment manufacturers and companies that own their own consumer brands in the global market for mobile computing accessories and related products.

The company serves retail, corporate, capital providers, and individual customers across its business lines. Financial services are primarily engaged by corporate customers, including publicly held and privately owned companies, financial institutions, institutional investors, lenders, and legal and professional services firms. Client relationships are maintained with companies in consumer goods, industrials, energy, financial services, healthcare, real estate, and technology industries. Fund and asset management services are provided to institutional, high-net-worth, and individual investors. Communication-related businesses (Lingo, magicJack, Marconi Wireless, and UOL) and consumer products primarily serve individual customers as well as businesses. Specific customer names are not disclosed in the filing.