Newsroom

HOULIHAN LOKEY RELEASES 2012 TRANSACTION TERMINATION FEE STUDY

2013-06-14T00:00:00-04:00

InsightsIdeas

Houlihan Lokey is pleased to share with you its 2012 Transaction Termination Fee Study, which summarizes key termination fee metrics for M&A transactions announced between 2008 and 2012. We have also analyzed termination fees as a percentage of target enterprise value to reflect the growing judicial recognition of enterprise value as a benchmark for assessing acceptable termination fee levels.

To download your complimentary copy of the Study, please fill out the form here.

HOULIHAN LOKEY/MERGERMARKET NEWSLETTER: PRIVATIZING US-LISTED CHINESE COMPANIES

2013-06-12T00:00:00-04:00

InsightsIdeas

Houlihan Lokey is pleased to present the first edition in a series of quarterly newsletters that will be published in partnership with Mergermarket. This quarter's newsletter is focused on the continuing trend of going private transactions by U.S.-listed Chinese companies.

With expectations of further take-privates, deals are becoming increasingly complex. Larger buyer groups and more vocal unaffiliated shareholders are entering the buyout arena, and investor groups – many led by company founders – must keep their long-term objectives in mind. While the challenges of delisting can be many, experienced and skilled advisors can help companies navigate to a successful privatization.

To view the newsletter, please click here*.

*The file is an Adobe Acrobat PDF. If you experience difficulty opening the downloadable file, you may need to download the free Acrobat Reader.

Houlihan Lokey Releases 2012 Purchase Agreement Study

2013-06-07T00:00:00-04:00

InsightsIdeas

Houlihan Lokey has completed its annual Purchase Agreement Study (the “Study”), which summarizes selected terms of middle-market change-of-control transactions in which Houlihan Lokey served as the financial advisor to either the buyer or the seller. The Study is based on both public and private transactions that vary by industry and size. The Study analyzes the terms of the indemnification provisions with respect to the representations, warranties, and covenants contained in their respective purchase agreements. These terms are negotiated by attorneys and investment bankers. There is no consensus on what constitutes “fair and normal” or “market,” as terms vary based on the specific facts and circumstances of a transaction. However, as illustrated by the data in the Study, certain patterns emerge.

To download your complimentary copy of the Study, please fill out the form here.

HOULIHAN LOKEY ANNOUNCES 2013 OFFICER-LEVEL PROMOTIONS

2013-05-10T00:00:00-04:00

Press Release

NEW YORK – May 10, 2013 - Houlihan Lokey, the international investment bank, is pleased to announce the following promotions:

Managing Director
Christopher Crain		Corporate
Tom Dippel		Financial Sponsors Coverage
Joe Julian		Financial Restructuring
Ryan O'Toole		Corporate Finance
Bill Sherer		Financial Sponsors Coverage

Director
Hal Byer		Financial Sponsors Coverage
Michael De Simone		Financial Advisory Services
Andrew Deren		Financial Advisory Services
Jeffrey Dorst		Corporate Finance
Patrick Gillan		Financial Restructuring
Dan Gissinger		Financial Restructuring
Scott Jackson		Financial Restructuring
Jim Owen		Corporate Finance
James Page		Corporate Finance
Thomas Puricelli		Financial Advisory Services
Matthew Ryan		Corporate Finance
David Salemi		Financial Restructuring
David Sarfas		Financial Advisory Services
Bryan Walker		Financial Advisory Services
Jeffrey Wilson		Asia

Senior Vice President
Marco Acerra		Financial Restructuring
Michael Abramson		Corporate Finance
Dave Allen		Corporate
Hamadi Ben-Mustapha		Corporate Finance
Brian Bouchard		Financial Advisory Services
Eric Cartier		Corporate Finance
Lyle Chastaine		Financial Advisory Services
John Cowan		Corporate
Thomas D'Arminio		Financial Advisory Services
Brandon Gale		Financial Restructuring
Nicolas Guelfand		Financial Restructuring
Surbhi Gupta		Financial Restructuring
Xander Hector		Financial Restructuring
Gunes Kulaligil		Financial Advisory Services
Angelo Lorenzana		Financial Advisory Services
Andrew MacNamara		Financial Advisory Services
Anthony Meixelsperger		Corporate Finance
Michael Morabito		Corporate Finance
Hugh Nelson		Financial Advisory Services
Darren Novak		Corporate Finance
Michael Pisani		Corporate Finance
Jeff Raithel		Financial Restructuring
Youmna Salameh		Financial Advisory Services
Michael Schober		Financial Restructuring
Anshul Shekhon		Financial Advisory Services
Ed Taniguchi		Corporate
Jay Weinberger		Financial Restructuring

Vice President
Allen Ameri		Corporate Finance
Daniel Crowley		Financial Restructuring
Brent Ferrin		Corporate Finance
Matthew Hein		Corporate Finance
Maria Zien		Financial Advisory Services
Ryan Jenson		Corporate Finance
Daniel Johnson		Financial Advisory Services
James Kim		Corporate Finance
Laura Kimmel		Financial Restructuring
Jonathan Kirkland		Corporate Finance
Benjamin Krauskopf		Financial Restructuring
Daniel Krsicka		Corporate Finance
Suchit Kumar		Financial Advisory Services
Martin Lawlor		Financial Advisory Services
Justin Magner		Financial Restructuring
Russell Mason		Financial Restructuring
Peter Mullen		Financial Advisory Services
Paul Nostro		Financial Advisory Services
Milko Pavlov		Financial Advisory Services
John Popehn		Financial Restructuring
Vivian Ren		Asia
Justin Rofel		Corporate Finance
Todd Roland		Financial Advisory Services
Kevin Secrist		Financial Advisory Services
Robert Teigman		Financial Advisory Services

Administrative Vice President
Catie Blackford		Minneapolis
Kelly Hallahan		New York
Laura Letchford		Corporate

“I’m delighted to announce these well-deserved promotions,” said Scott Beiser, Chief Executive Officer of Houlihan Lokey. “This year’s newly appointed officers have contributed substantially to the growth and success of the franchise, and they exemplify the dedication, integrity and commitment to excellence on which the firm prides itself. I wish them every success going forward.”

HOULIHAN LOKEY APPOINTS DAVID TIMBLICK MANAGING DIRECTOR AND HEAD OF ASIA

2013-05-06T00:00:00-04:00

Press Release

Role Underscores Firm’s Continued Expansion, Commitment to Region

HONG KONG AND NEW YORK – May 6, 2013 - Houlihan Lokey, the international investment bank, has appointed David Timblick Managing Director and Head of Asia, including Houlihan Lokey’s Tokyo office. Mr. Timblick is based in Hong Kong.

Mr. Timblick joins from Lazard Asia, where he has held a number of roles over the past 14 years. He recently served as head of Lazard’s Asia advisory practice, overseeing strategy, planning, and client coverage across the region. Prior to Lazard, Mr. Timblick held senior positions at the Korea Merchant Banking Corporation and Arthur Andersen Consulting. Mr. Timblick began his banking career in 1990 at Arthur Andersen & Co.

“David brings a wealth of operational experience and deep client relationships to the Firm. He will be instrumental in helping Houlihan Lokey continue to grow throughout Asia and become the premier advisory investment banking firm in the region,” said Scott Beiser, CEO of Houlihan Lokey. “David will be a critical resource to colleagues and clients alike as we increasingly bring our expertise in corporate finance, restructuring and financial advisory to clients across Asia.”

Houlihan Lokey has 16 offices worldwide, including offices in Beijing, Hong Kong and Tokyo. Through its investment in India-based Avista Advisory, the firm also serves clients in Singapore and Mumbai.

“I’m eager to build on the successes the firm has achieved in the region and continue to provide the exceptional services the firm delivers to its clients globally,” said Mr. Timblick.

Mr. Timblick holds a B.A. with Honors in Politics, Philosophy, and Economics from Oxford University and an MBA in Finance from INSEAD Fontainebleau France.

SECONDARY ADVISORY CO-HEADS JEFF HAMMER AND PAUL SANABRIA COMMENT ON THE EVOLUTION OF THE SECONDARY MARKET IN PRIVATE EQUITY INTERNATIONAL

2013-04-24T00:00:00-04:00

InsightsIdeas

The market for illiquid assets owes much of its evolution to financial crises and the ensuing search for returns. However, the financial crisis of 2008 fomented the convergence of individual sub-markets into a single secondary market and the emergence of new investor participants, as Managing Directors Jeff Hammer and Paul Sanabria write in a recent editorial published by Private Equity International.

To read the full article, please click here*.

*The file is an Adobe Acrobat PDF. If you experience difficulty opening the downloadable file, you may need to download the free Acrobat Reader.