Houlihan Lokey announced that it has agreed to acquire Intrepid Financial Partners. The transaction was signed on June 27, 2026, and is expected to close before September 30, 2026, subject to regulatory approval.
Financial terms of the transaction were not disclosed. Intrepid Investment Management, Intrepid’s investment management business, is not included in the transaction and will continue operating separately under the same name.
Intrepid Financial Partners is an independent investment bank focused on advisory services for the energy sector. The firm was founded in 2015 by Hugh E. “Skip” McGee III and Christopher F. Winchenbaugh.
Intrepid provides mergers and acquisitions, fairness opinions, capital raising, and restructuring services to clients across the energy industry. Its coverage includes exploration and production, midstream and infrastructure, downstream and retail, energy services and technology, and energy transition.
Since its founding, Intrepid has advised on more than 120 energy sector transactions totaling over $215 billion. Houlihan Lokey said the acquisition will substantially expand its energy sector coverage capabilities.
Following the transaction, the Intrepid team will join Houlihan Lokey’s global Oil & Gas Group. McGee, Intrepid’s CEO, will join Houlihan Lokey as a Managing Director and Global Chairman of Oil & Gas.
Winchenbaugh, Intrepid’s President, will join Houlihan Lokey as a Managing Director and Global Co-Head of Oil & Gas. He will serve alongside J.P. Hanson, currently Global Head of Oil & Gas at Houlihan Lokey.
The acquisition will add 34 financial professionals to Houlihan Lokey’s Oil & Gas team. The combined global team will include more than 70 financial professionals worldwide.
On a pro forma basis, according to LSEG data, the combined group advised on 23 U.S. Energy and Power M&A transactions in 2025. Houlihan Lokey said the combination creates one of the most comprehensive energy advisory platforms across the oil and gas industry and broader energy sector.
Houlihan Lokey’s Oil & Gas Group provides M&A and acquisition and divestiture advisory, capital raising, valuation, recapitalization and restructuring, and board advisory services. The group includes more than 40 experienced professionals, including a technical A&D team led by industry professionals with an average of more than 25 years of experience.
In 2025, Houlihan Lokey was ranked as the top advisor for U.S. Energy and Power M&A transactions under $1 billion, according to LSEG data. The company said the Intrepid acquisition supports its strategy of delivering deep sector expertise to its global client base.
KEY QUOTES:
“Intrepid’s suite of services is a perfect match with Houlihan Lokey, and its comprehensive coverage of the energy sector adds significantly to our longtime strategy of delivering the deepest possible sector expertise to our global client base. This acquisition is an outstanding addition to the Oil & Gas Group and to our overall business as we continue to grow our capabilities.”
Larry DeAngelo, Global Co-Head of Corporate Finance at Houlihan Lokey
“Houlihan Lokey’s comprehensive matrix of products, services, and global footprint, alongside a passionate dedication to its clients, represents an excellent business compatibility and cultural fit with Intrepid’s platform and our ‘client-first’ philosophy. We cannot think of a better home for Intrepid, our team, and our clients, and we’re delighted to be joining the Oil & Gas Group alongside J.P. and his team.”
“As part of the Houlihan Lokey team, we will be able to deliver additional products and continue to deliver the best advice to our clients, which is at the core of what we do.”
Hugh E. “Skip” McGee III, CEO of Intrepid Financial Partners
“Intrepid’s strength in corporate M&A advisory, particularly in the upstream, midstream, and alternative energy sectors, combined with Houlihan Lokey’s global strength in M&A across upstream, midstream, and downstream, as well as technical asset-level acquisition and divestiture (A&D) advisory in the upstream sector, establishes one of the most comprehensive energy advisors, with superior capabilities across all facets of the oil and gas industry and broader energy spectrum. I’m excited to partner with Skip, Chris, and the Intrepid team to grow the business and continue to provide outstanding advice and results to our energy clients.”
J.P. Hanson, Global Head of Oil & Gas at Houlihan Lokey
“This combination is exceptionally timely. We are currently navigating a highly compelling seller’s market, driven by volatility with stark pricing dislocations and massive pools of dedicated capital actively seeking deployment amid uncertainty in the energy markets. I have no doubt our clients will benefit tremendously from the strong synergies and centers of expertise that this acquisition establishes.”
Christopher F. Winchenbaugh, President of Intrepid Financial Partners
Source: Original Article
