American investment bank Houlihan Lokey has purchased the investment banking operations of Leonardo & Co in Germany, the Netherlands and Spain, for an undisclosed amount.
Additionally, the company has become a minority partner in a joint venture with Leonardo in operations in Italy.
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Leonardo is an independent financial advisory firm that offers corporate finance, financial restructuring, and other strategic advisory services to clients across continental Europe. It employs 54 financial professionals across its offices in Amsterdam, Frankfurt, Madrid, Milan and Rome.
As part of the deal, Leonardo CEO and head of advisory for Italy Matteo Manfredi will manage Houlihan Lokey’s European corporate finance business alongside Steve Winningham, Houlihan Lokey head of corporate finance, Europe.
Furthermore, Manfredi will become CEO of the JV in Italy. The JV together with the Houlihan Lokey’s business in Europe has over 150 financial professionals in seven offices across the region.
Commenting on the acquisition, Houlihan Lokey CEO Scott Beiser said: "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."
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By GlobalDataLeonardo 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."
