Quayle Munro snapped up by fast-growing Us-listed firm

● 35-year-old advisory group has roots in Edinburgh ● Deal will bolster Houlihan’s services outside of the US

Quayle Munro, the corporate advisory firm founded in Edinburgh during the 1980s, has been acquired by Us-listed Houlihan Lokey for an undisclosed sum.

Established in 1983 by Ian Quayle Jones and Michael Munro as a merchant bank, Quayle Munro advised the Scottish Office on the privatisation of Scotland’s railway network and the Scottish Bus Group, the funding arrangements for the Skye Bridge and on the potential privatisation of water facilities north of the Border.

In 1993, Jones oversaw the flotation of the business on the London Stock Exchange. Ten years later, the firm’s listing moved from the main stock market to the Alternative Investment Market (Aim).

In July 2002, Jones announced that he would retire from his role as chief executive and retain his position as chairman on a parttime basis. He retired from the firm in 2010 but remained a key shareholder.

The acquisition by Houlihan Lokey will add 40 advisers to its team and accelerates the US firm’s plans to bolster its services outside its home market.

Quayle Munro’s client list includes private and publicly listed companies, financial sponsors and entrepreneurs. In addition to its data and analytics group, the firm – now headquartered in London – has advisory practices in financial services, financial technology and education.

The data and analytics group will continue to be headed by Andrew Adams, Quayle Munro’s chief executive, who will also serve as co-head of Houlihan Lokey’s UK corporate finance business.

He said: “In addition to its comprehensive global presence, extensive private equity coverage, and broad sector expertise, Houlihan Lokey possesses a strong cultural compatibility with the Quayle Munro team that will ensure both a smooth, successful integration and rapid value enhancement for clients of both firms.

“We could not be more excited to build out this new industry group and further grow the firm’s client base across data & analytics, financial institutions, financial technology, and education with the additional resources and the global presence of Houlihan Lokey.”

Scott Adelson, Houlihan Lokey’s co-president, added: “The establishment of the new data and analytics group represents our recognition of the expertise and new capabilities our clients around the world will increasingly require as their businesses grow and evolve,”