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Houlihan Lokey (HLI) Enters Deal to Acquire Oakley Advisory
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Houlihan Lokey, Inc. (HLI - Free Report) has agreed to acquire Oakley Advisory. Oakley Advisory is an independent advisory firm that provides a range of services to clients across digital infrastructure, communications services, and the cloud landscape. On the assumption that the deal gets regulatory approval, it is expected to be completed in the next quarter.
The acquisition will substantially add to Houlihan Lokey’s global coverage of the digital infrastructure sector. Also, it will significantly augment the existing sector coverage in Europe.
HLI is one of the most active advisors in the digital infrastructure and telecoms sector. Its practice covers industry subsectors, including fiber, fixed wireless, cable, data centers, managed services, wireless infrastructure, wireless and spectrum, digital infrastructure services, and communications software.
Oakley Advisory was formed in 2015 by managing partners Chris Godsmark and Christian Maher. To date, the Oakley Advisory team has completed more than 150 transactions, with a combined deal value of more than £35 billion. It has a large international network of client relationships with corporates, listed companies, private equity funds, infrastructure funds, and family offices.
Scott Adelson, Houlihan Lokey’s co-president and co-head of Corporate Finance, stated, “Chris and Christian have created the leading independent advisory firm in Europe focused on the telecoms and digital infrastructure sector and we are delighted to be welcoming their team to Houlihan Lokey. As we continue to expand our corporate finance business, we are seeking to add strength where we see client demand with individuals or teams that share our track record of success driven by outstanding sector knowledge, a strong corporate culture, and an unerring focus on superior client outcomes.”
Phil Adams, the global head of technology at Houlihan Lokey, said, “The next phase of digital rebuild across the UK and Europe is well underway as aging infrastructure is being upgraded and we expect to see plenty of activity in the sector, with anticipated growth over the next 3 to 5 years driving digital infrastructure and connectivity valuations, investor interest, and capital deployment. With the addition of the deep sector expertise and the broad range of solutions that the Oakley Advisory team brings, we will be best positioned to provide our European clients with access to different pools of global capital to achieve their strategic ambitions.”
Notably, the acquisition is expected to add 14 financial professionals focused on digital infrastructure within the global technology group at HLI.
In the past year, shares of HLI have lost 12.7% compared with a decline of 23.4% of the industry.
Washington Federal, Inc. (WAFD - Free Report) is entering the lucrative and “fast-growing” California market. The company has signed an agreement to acquire Luther Burbank Corporation and its wholly-owned subsidiary, Luther Burbank Savings, for $654 million.
Washington Federal is expected to use the deal as “a platform for growth in attractive California markets.” The company intends to enhance multi-family loan origination capabilities and expand commercial banking activities to Northern and Southern California.
At present, LBC operates in California, Washington and Oregon through 11 full-service branches and seven loan production offices. Upon closure (expected by June 2023-end), the combined entity will have almost $29 billion in assets, $23 billion in total loans and $22 billion in deposits across 212 locations in nine western states.
Under the terms of the all-stock deal, Luther Burbank shareholders will receive 0.3353 shares of Washington Federal common stock for each share of LBC common stock they hold. The deal, already approved by the boards of directors of both WAFD and LBC, is subject to shareholder and regulatory approvals.
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Houlihan Lokey (HLI) Enters Deal to Acquire Oakley Advisory
Houlihan Lokey, Inc. (HLI - Free Report) has agreed to acquire Oakley Advisory. Oakley Advisory is an independent advisory firm that provides a range of services to clients across digital infrastructure, communications services, and the cloud landscape. On the assumption that the deal gets regulatory approval, it is expected to be completed in the next quarter.
The acquisition will substantially add to Houlihan Lokey’s global coverage of the digital infrastructure sector. Also, it will significantly augment the existing sector coverage in Europe.
HLI is one of the most active advisors in the digital infrastructure and telecoms sector. Its practice covers industry subsectors, including fiber, fixed wireless, cable, data centers, managed services, wireless infrastructure, wireless and spectrum, digital infrastructure services, and communications software.
Oakley Advisory was formed in 2015 by managing partners Chris Godsmark and Christian Maher. To date, the Oakley Advisory team has completed more than 150 transactions, with a combined deal value of more than £35 billion. It has a large international network of client relationships with corporates, listed companies, private equity funds, infrastructure funds, and family offices.
Scott Adelson, Houlihan Lokey’s co-president and co-head of Corporate Finance, stated, “Chris and Christian have created the leading independent advisory firm in Europe focused on the telecoms and digital infrastructure sector and we are delighted to be welcoming their team to Houlihan Lokey. As we continue to expand our corporate finance business, we are seeking to add strength where we see client demand with individuals or teams that share our track record of success driven by outstanding sector knowledge, a strong corporate culture, and an unerring focus on superior client outcomes.”
Phil Adams, the global head of technology at Houlihan Lokey, said, “The next phase of digital rebuild across the UK and Europe is well underway as aging infrastructure is being upgraded and we expect to see plenty of activity in the sector, with anticipated growth over the next 3 to 5 years driving digital infrastructure and connectivity valuations, investor interest, and capital deployment. With the addition of the deep sector expertise and the broad range of solutions that the Oakley Advisory team brings, we will be best positioned to provide our European clients with access to different pools of global capital to achieve their strategic ambitions.”
Notably, the acquisition is expected to add 14 financial professionals focused on digital infrastructure within the global technology group at HLI.
In the past year, shares of HLI have lost 12.7% compared with a decline of 23.4% of the industry.
Image Source: Zacks Investment Research
Currently, Houlihan Lokey carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Inorganic Growth Efforts by Other Firms
Washington Federal, Inc. (WAFD - Free Report) is entering the lucrative and “fast-growing” California market. The company has signed an agreement to acquire Luther Burbank Corporation and its wholly-owned subsidiary, Luther Burbank Savings, for $654 million.
Washington Federal is expected to use the deal as “a platform for growth in attractive California markets.” The company intends to enhance multi-family loan origination capabilities and expand commercial banking activities to Northern and Southern California.
At present, LBC operates in California, Washington and Oregon through 11 full-service branches and seven loan production offices. Upon closure (expected by June 2023-end), the combined entity will have almost $29 billion in assets, $23 billion in total loans and $22 billion in deposits across 212 locations in nine western states.
Under the terms of the all-stock deal, Luther Burbank shareholders will receive 0.3353 shares of Washington Federal common stock for each share of LBC common stock they hold. The deal, already approved by the boards of directors of both WAFD and LBC, is subject to shareholder and regulatory approvals.