Houlihan Lokey has acquired Leonardo's investment banking operations in Germany, the Netherlands, and Spain for an undisclosed amount.
In addition, Houlihan has become a minority partner in a joint venture (JV) with Leonardo’s investment banking operations in Italy.
Based in Italy, Leonardo is an independent financial advisory firm that provides corporate finance, financial restructuring, and other strategic advisory services to clients in a range of industries across continental Europe.
With offices in Amsterdam, Frankfurt, Madrid, Milan and Rome, Leonardo employs close to 54 financial professionals including 12 managing directors.
Commenting on the acquisition, Houlihan Lokey CEO Scott Beiser said: "As with most of our acquisitions, we have known the Leonardo team for some time and have even worked alongside them on transactions. It became clear that there existed an excellent cultural and intellectual fit with our existing European platform.
"Beyond the strategic geographic expansion, the addition of this world-class team of bankers will provide a tremendous benefit to our clients, and we’re delighted they are joining the firm."
Leonardo CEO Matteo Manfredi will manage Houlihan Lokey’s European corporate finance business alongside Houlihan Lokey Europe corporate finance current head Steve Winningham.
Manfredi will also be CEO of the JV in Italy.
Houlihan Lokey’s business in Europe, together with its Italian JV, now has over 150 financial professionals in seven offices across the region.
Leonardo founder Gerardo Braggiotti said: "We are delighted to welcome Houlihan Lokey as the ideal partner for Leonardo; since 2006 Leonardo has been delivering first-class advisory services to clients in Europe.
"The integration creates a unique top-tier platform that will be ideally positioned to support clients worldwide."