Houlihan Lokey, a global investment bank, announced that the M&A advisory practice of Bluestone Capital Partners (Bluestone) has merged into Houlihan Lokey’s Aerospace, Defense & Government Services (ADG) Group. Bluestone is a boutique investment banking firm that provides corporate finance and other advisory services to companies in the aerospace, defense, and government services sectors.
John Allen, Susan Gabay, and Greg Van Beuren will join Houlihan Lokey as Managing Directors in the ADG Group, overseeing the firm’s government services clients. Allen, Co-Founder and CEO of Bluestone, has more than two decades of experience advising both Fortune 500 and middle-market companies, including some of the largest corporate and financial sponsor clients in the sector (such as Booz Allen, KeyW, ManTech, and Veritas Capital). His prior experience also includes serving as Co-Owner of Windsor Group prior to its acquisition by BB&T in 2005, and Co-President of Quarterdeck Investment Partners alongside Anita Antenucci, Houlihan Lokey's Head of the ADG Group, from 1994 until 2002.
Gabay, Co-Founder of Bluestone, and Van Beuren have worked alongside Allen at Windsor Group and BB&T. Together, the three partners have advised on more than 150 transactions across the aerospace, defense, and government services sectors. Key recent transactions include the sale of Enlighten IT Consulting to MacAulay-Brown, Inc.; Belcan's purchase of The Kemtah Group; and the acquisition of Owl Computing Technologies, Inc., by QRC Technologies, Inc. 2017 has been Bluestone's most active year, with the firm having announced nine transactions.
“The Bluestone team has closed transactions with nearly every type of buyer in the market, from large integrators to emerging mid-tier players to private equity-backed portfolio companies and leading financial sponsors,” said Ms. Antenucci. “Our government services clients will benefit substantially from their sector expertise, industry relationships, and invaluable market insight gleaned from more than 60 years of experience in the sector. John, Susan, Greg, and their colleagues are an outstanding addition to Houlihan Lokey’s industry-leading ADG Group, and I’m delighted that they have joined the team,” she added.
“I could not be more excited to rejoin Anita after more than 15 years—and at the close of Bluestone’s most active year in M&A. Houlihan Lokey’s broad service offering, combined with a depth of financial sponsor relationships that is unmatched in the industry, is an incredibly attractive value proposition for our clients, and we look forward to continuing to deliver the exceptional advice and service for which the firm is known,” said Allen.
In addition to the above-named Managing Directors, Bluestone Vice President Garrett Asta and a talented team of analysts will also be joining Houlihan Lokey's ADG Group. With these additions, the group is among the largest of its kind in financial services, with 30 professionals based in Washington, D.C.; Los Angeles; and London. Together with the firm's Business Services Group, the ADG Group has advised on 25 transactions year-to-date.
“As we continue to grow our Corporate Finance business, finding professionals with deep sector experience and the client-first, entrepreneurial ethos that defines our firm culture is of paramount importance,” said Robert Hotz, Vice Chairman and Co-Head of Corporate Finance at Houlihan Lokey. “The Bluestone team’s credentials, decades of experience, and reputation for providing superior advice to clients in the sector make them a perfect fit to join our Aerospace, Defense & Government Services Group,” he continued.