Houlihan Lokey agreed to acquire 7 Mile Advisors (7MA), an independent advisory firm that provides a range of investment banking services to clients across the IT services sector. The transaction, signed July 7, further enhances Houlihan Lokey’s position in IT services and expands the firm’s geographic footprint. The deal is expected to be completed this quarter following regulatory approval.

“We’re delighted to bring on this talented team to build on the outstanding track record we have achieved in the IT services segment and, more importantly, continue toward our goal of providing our clients with the best, most subsector-specific expertise possible as they navigate opportunities and challenges. 7MA’s deal roster, and the successful outcomes they have helped their clients achieve across the IT services sector, demonstrate this team’s skill at combining transaction execution expertise with industry knowledge for superior results, and we are excited to introduce them to our clients around the world,” Larry DeAngelo, head the business services group at Houlihan Lokey, said.

7MA’s approximately 30 financial professionals, including five managing directors, will join the existing IT Services team in Houlihan Lokey’s business services group. The acquisition will also add an office in Charlotte, NC.

“Houlihan Lokey’s entrepreneurial, team-oriented culture and global presence make it an excellent home for 7MA, and we’re excited to be joining the largest and most active business services investment banking team. Our clients will benefit tremendously from the firm’s industry focus, superior capital markets capabilities, and a depth of financial sponsor relationships that is second to none. We look forward to joining our new colleagues around the world to build on the firm’s successes to date in the IT services sector,” Leroy Davis, a founding Partner at 7MA, said.

“The 7MA team is an outstanding addition to the firm. Their business mix aligns perfectly with ours, but more importantly, their strong cultural compatibility, which in our view is the cornerstone of any combination, makes for an excellent fit. Their approach to subsector specialization, client relationship focus, and unwavering desire to be a true partner matches perfectly with our philosophy. We’re thrilled that they are joining Houlihan Lokey,” Scott Adelson, co-president and global co-head of corporate finance at Houlihan Lokey, said.