About Houlihan Capital

Our Story

Three Decades of Independent Valuation and Advisory Work

Houlihan Capital's origins date to 1996, when two M&A and valuation professionals founded a Chicago firm serving small and middle-market companies. The practice grew through referrals. Attorneys, accountants, and fund administrators returned because the analysis was thoroughly documented and because the professionals who won the engagement were the professionals who worked on it.

In 2010, the valuation and advisory practice was reorganized as Houlihan Capital. Founding principals carried the work forward, and one remains with the firm today as President and chair of the Fairness and Solvency Committee.

The work expanded across the disciplines that define consequential financial decisions: business valuation, fairness and solvency opinions, purchase price allocation, and investment banking. Specialized capability developed in sectors where conventional methodologies fall short, including cryptocurrency and digital assets, cannabis, healthcare, and industrials. Building that capability required forward-looking methodology and sustained commitment to markets other firms were slower to serve. The investment banking practice has grown alongside it, advising owners on sales, capital raises, and transitions.

In 2024, the firm transitioned to an Employee Stock Ownership Plan and appointed Rodger Howell as Chief Executive Officer. Employee ownership was a structural decision rather than a milestone. It keeps senior professionals accountable to the quality of the work itself. Today the firm serves clients from offices in Chicago and Cleveland. The structure has evolved. The approach has not.