Top Groups at Houlihan Lokey
Aside from restructuring, are there any other groups (either industry or product) that are considered top notch?
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Defense and consumer (specifically food) seem pretty strong, at least from working with them
Industrials is pretty strong too
Does that include the Business Services team, or do you consider that separate?
Whatever group produces the Fairness Opinions, I think FAS?
I heard that's more valuation though. Not really corporate finance or advisory based.
Actually, I think youre right. Its a banking function that sits in valuation but I think its a pretty lucrative area for them.
Would be interested on this too. Anyone happen to know much about their TMT coverage group?
Industrials is the largest group (and is considered the best) in the Chicago office, which also has food and healthcare.
What groups are out of the Minneapolis office and how good is it?
Not sure how true this is but I've heard that the top MDs of their restructuring group are located in the Minneapolis office...
This is the case. Minny also has one of the best industrials MDs.
RX and Industrials are very strong out of MPLS. Chicago's best group is Food & Bev.
minny corp fin is industrials only, i think. restructuring is big there.
within corp fin, cfr and industrials are quite strong. hc does well. a lot of money has been put into TMT with the two recent acquisitions but i dont know theyve taken off yet as hoped. within the banking universe, HL a&d is one of the better practices around but there are only so many relevant mandates so the profile there is kind of capped.
How is their Tech M&A team in SF
CFR (Food and beverage is the only vertical built out, although Jay Novak absolutely owns it) Industrials sees good deal flow ADG sees good deal flow The above groups are are most respected within CF at HL (and from clients/buyside).
Is Business Services considered separate from Industrials (sorry asked twice but since you are a different poster than the guy above...)
Yes.
Does anyone have any thoughts on the FIG group?
Best groups at HLHZ (Chicago office) (Originally Posted: 07/21/2008)
Hey,
I know this has been discussed before to some extent. What are the best groups at Houlihan Lokey primarily in Chicago but also at other offices? HLHZ has a fairly strong reputation in M&A advisory and I believe also in restructuring. What do you think will be the best choice in terms of exit opportunities and deal experience?
Milestone acquisition a few years back. Was picking up steam in NYC last I heard.
Bump
BTW, What exactly does an analyst do in restructuring? I'm currently doing an internship in M&A, are the skills transferable? Is an analyst still spreading comps, building models etc? I assume not.
do restructuring..will give you solid exit opps into distressed PE/HF
Restructuring analysts do pretty much everything M&A analysts do but also get exposure to distressed and bankruptcy situations. The threat/possibility of defaulting on a loan or breaking a covenant is always looming and that adds an extra dimension to the normal deal process. Analysts still spread comps, build models, obtain data from companies, but the amount of pitching is definitely a lot less than M&A ( at least in these markets), which is a huge plus. Whether restructuring is better or not than M&A I couldn't tell you, but it definitely is pretty good. I don't know too much about the exit opps but I'm guessing they're not bad.
I have some friends at the Chicago Houlihan office and they're all loving it. PM me if you have any other questions.
how about for the LA office?
HL Industry Groups (Originally Posted: 08/26/2009)
Anyone know what the top industry groups are at Houlihan Lokey? It doesn't matter which office, I'd just like to get an idea of the top groups with respect to dealflow, exit opps, etc.
I don't know much about any of them, but here are the industry groups I am aware of (in no specific order):
-Aero/Defense -Basic Industrials -Consumer/Food/Retail -Healthcare -Media/Telecom -Tech -Energy -FIG -Lodging/Leisure -Transportation
Rx, Business Services, Sponsor coverage, TMT
Is it just M&T or does it include tech as well? Just spoke to someone who said they could connect me with analysts as HLHZ, but they asked for "specific" groups I was interested in
To be honest, HLHZ is a creditor advisory shop and any of the industry groups will be considered subpar.
Wow, thanks for your insight JWS.
Anyone else?
but JWS is right - their strength is in creditor side restructuring. That being said, working in M&A at HLHZ probably isn't all that bad. I'd think exit opps could include smaller MM PE shops.
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