New York-listed investment bank Houlihan Lokey has today acquired Quayle Munro, a UK advisory firm which has worked on some of the biggest recent fintech deals in the country.
The boutique firm also specialises in data and analytics, to help advise businesses on their commercial and general management decisions. Houlihan believes that, with the addition of its experts who work across a broad array of sectors, the data and analytics capabilities will be a key string to its bow.
Although Houlihan already has its own established team in London, the Quayle acquisition has proved its commitment to the market.
"We are in a people business, and the talent pool in the UK is still just differentiated when it comes to investment banking relative to other parts of Europe. We need to be where the talent is," the firm's co-president Scott Adelson told City A.M.
In 2017, Quayle advised BC Partners and Pollen Street on their takeover of challenger bank Shawbrook, Bureau van Dijk on its €3bn sale to Moody's and BlueStep Bank on its sale to private equity house EQT.
Robert Hotz, Houlihan's co-head of corporate finance, said that the two firms had been acquainted for some time, but it became clear that the could benefit from joining forces late last summer.
"In addition to its comprehensive global presence, extensive private equity coverage, and broad sector expertise, Houlihan Lokey possesses a strong cultural compatibility with the Quayle Munro team," said Quayle's chief executive Andrew Adams.
Behind the deal with Robert Hotz
- Senior managing director, vice chairman and global co-head of corporate finance are just a few of the titles Hotz has under his belt. He was previously at the predecessor firm of UBS before joining Houlihan Lokey in New York in 2002.
- Despite a lengthy theatre visit, the deal finished on target. Hotz popped into The Ferryman on impulse and was readying to leave after two acts, before being chivvied back into his seat for an unexpected third. Coincidentally, Quayle Munro’s chief exective almost made the same mistake.
- An avid reader, Hotz enjoys a good fiction novel. Although he recommends that all City A.M. readers should see The Ferryman, he is a little more reserved with his book recommendations (“I don’t wanted to be painted in that light,” he said dryly).
- A cocktail party in London is likely to be the celebration of choice now the deal is finalised, although Hotz expects several more business meetings and dinners first.