Global investment bank Houlihan Lokey has announced its agreement to acquire Waller Helms Advisors, an independent advisory firm specialising in investment banking services for the insurance and wealth management sectors.
The acquisition, which is anticipated to be finalised by 31 December 2024, pending regulatory approvals, solidifies Houlihan Lokey’s position as a leading advisor in these industries and underscores its influence in the global financial services sector.
Waller Helms Advisors, founded in 2014 and based in Chicago, offers advisory services in mergers and acquisitions, private capital raising, and valuation.
The firm has a notable track record, having advised on over 230 transactions with a combined value exceeding $40bn. Recent high-profile deals include the sale of DOXA Insurance, a portfolio company of Century Equity Partners, to Goldman Sachs Asset Management; Mather Group’s recapitalisation by Vistria Group; and the sale of BenefitMall to Truist Financial, representing the Carlyle Group.
As part of the acquisition, nearly 50 financial professionals from Waller Helms, including 13 managing directors, will join Houlihan Lokey’s Financial Services Group.
James Anderson, CEO of Waller Helms, will come on board as a managing director and global co-head of the financial services group, working alongside Jeffrey Levine, global head of financial services.
Co-founders John Waller and David Helms will also join as managing directors, contributing to the firm’s expanded coverage in financial services. This addition will strengthen Houlihan Lokey’s presence in Chicago, New York, Miami, and the greater Atlanta area.
Houlihan Lokey financial services global head Jeffrey Levine said: “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 advisor 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.”
According to data from LSEG, on a pro forma basis, the new combined entity is now the leading advisor for global M&A transactions in 2023 within the insurance, asset management, and financial services sectors, excluding depositories.
Waller Helms CEO James Anderson said: “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.”
