: Houlihan Lokey buys IT boutique investment bank 7 Mile Advisors
Houlihan Lokey Inc. HLI said Monday it agreed to pay an undisclosed sum to acquire 7 Mile Advisors (7MA), a boutique investment banking firm with 30 employees including five managing directors that specializes in the information technology (IT) sector. The Charlotte, N.C. advisory firm was founded in 2008 and has worked on more than 170 transactions across the globe. Larry DeAngelo, head of Houlihan Lokey’s business services group, said, “We’re delighted to bring on this talented team to…continue toward our goal of providing our clients with the best, most subsector-specific expertise possible as they navigate opportunities and challenges.” 7MA’s team will will join Houlihan Lokey’s existing information technology services team in its business services group in Charlotte, N.C. Houlihan Lokey stock is up by 9.3% in 2023, compared to a 14.6% rise by the S&P 500 SPX.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.