When mid-market investment bank Houlihan Lokey spent $600m acquiring technology specialist advisory firm GCA in December 2021, it doubled its number of dealmakers in Europe to 350 in one fell swoop.
The Los Angeles-headquartered firm’s home market has long been its dominant source of revenue, historically accounting for 85% of fees, alongside its European operation steadily growing through a series of boutique bolt-ons over the past eight years.
