Houlihan Lokey, a global investment bank, has decided to acquire Waller Helms Advisors, an independent advisory firm that offers investment banking services to clients in the insurance and wealth management industries.
The transaction, which was signed on 6 August 2024, reaffirms Houlihan Lokey’s position investment while also highlighting the firm’s worldwide financial services leadership. The transaction is scheduled to be completed before 31 December 2024, pending regulatory approval.
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Established in 2014, Waller Helms is a Chicago-based firm that focuses in providing advisory services related to mergers and acquisitions, private capital raising, and valuation.
It primarily serves clients in the wealth management and insurance sectors. The company has provided advice on more than 230 deals totalling more than $40bn since its foundation.
Significant recent deals include BenefitMall’s sale to Truist Financial Corporation on behalf of the Carlyle Group, The Vistria Group reviving The Mather Group, and the sale of DOXA Insurance, a portfolio business of Century Equity Partners, to Goldman Sachs Asset Management.
Waller Helms’ roughly 50 financial experts, comprising 13 managing directors, will join Houlihan Lokey’s Financial Services group.
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By GlobalDataJames Anderson, CEO of Waller Helms, will join as managing director and global co-head of the financial services group, working alongside Jeffrey Levine, global head of financial services.
Additionally, John Waller and David Helms, Waller Helms’ co-founders, will serve as managing directors to assist and strengthen the firm’s coverage efforts for its clients in the financial services sector.
Moreover, the acquisition includes financial specialists in Chicago, New York, Miami, and the broader Atlanta area.
Levine stated: “The addition of this talented group of bankers is highly complementary to our Financial Services platform, adding meaningfully to our current coverage capabilities across numerous subsectors within insurance and wealth management. On a combined basis, the Group is now the number one adviser to clients in the insurance and wealth management sectors. We are delighted that the Waller Helms team is joining Houlihan Lokey and I look forward to partnering with James to lead the new team, now comprising nearly one hundred financial professionals.”
Anderson added: “As we discussed a possible combination, it became clear that Houlihan Lokey shares our dedication to deep sector expertise and more importantly, a fierce dedication to client success. It is this cultural compatibility and client-first ethos that makes this combination so compelling, and we’re excited to work with our new colleagues at Houlihan Lokey and continue delivering superior outcomes to clients.”
Larry DeAngelo, global co-head of corporate finance shared: “The addition of the Waller Helms team is exemplary of our desire to provide our clients with the greatest depth of sector expertise in the midcap space, alongside our market-leading private capital expertise, extensive relationships among financial sponsors, and other services.”
