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Houlihan Lokey to buy Freeman & Co. investment banking firm

Houlihan Lokey Inc. agreed to acquire Freeman & Co. LLC, which provides investment banking services to the financial services sector.

Freeman's investment banking team will join Houlihan Lokey's global financial institutions group as part of the deal. Gagan Sawhney and Eric Weber will be managing directors and Chairman Jim Freeman will be a senior adviser. The new hires will expand Houlihan Lokey's global FIG team to more than 60 bankers in four offices around the world, according to a news release.

The deal is expected to close before the end of 2019. Financial terms were not disclosed.