Houlihan Lokey acquires boutique Baylor Klein in European expansion

Houlihan Lokey has acquired another boutique investment bank as the US-headquartered advisory firm continues to expand in Europe.

The bank has bought Baylor Klein, a boutique advisory firm specialising in the household, beauty, and personal care sectors, it said in a statement. The move means that a team of five dealmakers will switch across to Houlihan Lokey, adding to its rapidly expanding team of 170 corporate finance professionals in the region.

Scott Adelson, Houlihan Lokey’s co-president and co-head of corporate finance, said that the Baylor Klein team were “true leaders in their field, and we think they will be a fantastic addition”.

Houlihan Lokey is focused on expanding its roster of European dealmakers, its co-head of corporate finance in the region Shaun Browne told Financial News in April.

READ Houlihan Lokey plots European expansion after poaching dealmaker team

The bank lifted two sector-focused teams from rivals in quick succession earlier this year, poaching a team of four investment bankers from BMO Capital Markets to launch its coverage of oil and gas companies in Europe in April, and hired Paul Tomasic from RBC Capital Markets along with four other dealmakers to launch its European healthcare investment banking team earlier in the month.

In 2015, Houlihan Lokey had just 20 dealmakers in Europe, but has expanded rapidly through hiring and acquisitions. It bought boutique Leonardo the same year, as well as consumer-focused bank McQueen, followed by the purchase of data and analytics advisory firm Quayle Munro and placement agent Beartooth in 2018, then Spain’s Fidentiis Capital a year later.

READ Global M&A boom continues as deals pass $500bn for third month

“Our ambition is to be the number one mid-market investment bank in Europe,” Browne told FN. “We’re making acquisitions where we see opportunities, lifting out teams and hiring the right individuals.”

To contact the author of this story with feedback or news, email Paul Clarke

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