Houlihan Lokey Acquires 7 Mile Advisors For Undisclosed Sum

Houlihan Lokey, Inc. HLI has agreed to acquire 7 Mile Advisors (7MA), an independent advisory. Deal terms not disclosed.

7 Mile Advisors provides investment banking services to clients across the IT services sector. The transaction will enhance Houlihan Lokey's IT services coverage capabilities and expands its geographic footprint. The acquisition will also add an office in Charlotte, North Carolina.

7MA's approximately 30 financial professionals, including five Managing Directors, will join the existing IT Services team in Houlihan Lokey's Business Services Group.

HLI held cash and equivalents of $752 million as of March 31, 2023. The deal is expected to be completed this quarter.

"The 7MA team is an outstanding addition to the firm. Their business mix aligns perfectly with ours, but more importantly, their strong cultural compatibility, which in our view is the cornerstone of any combination, makes for an excellent fit. Their approach to subsector specialization, client relationship focus, and unwavering desire to be a true partner matches perfectly with our philosophy," commented Scott Adelson, Co-President and Global Co-Head of Corporate Finance.

Price Action: HLI shares traded higher by 0.41% at $95.65 on the last check Monday.