Houlihan Lokey Advises Bluehawk
Houlihan Lokey is pleased to announce that Bluehawk LLC has been acquired by The Select Group LLC (TSG). The transaction closed on November 8, 2024.
Bluehawk is a privately held technology-managed solutions provider firm headquartered in Kirkland, Washington. Founded in 2011, the firm has more than 360 field employees who specialize in business strategy, operations, IT, and marketing. The company is recognized as one of the best workplaces in the Pacific Northwest and has earned a reputation as a trusted partner to many of the world’s most recognizable brands. With most of its revenue generated from the technology sector, Bluehawk remains at the forefront of technology enablement and digital transformation.
TSG is a privately held technology consulting firm headquartered in Raleigh, North Carolina. Since 1999, TSG has been at the forefront of delivering end-to-end consulting services to clients across diverse industries throughout the U.S. and Canada, helping to solve clients’ toughest challenges, inspire digital innovation, and drive meaningful results. TSG’s more than 2,000 employees serve hundreds of clients across the United States and Canada.
Bluehawk’s significant growth has established it as a leader in technology consulting and managed services. Through TSG’s infrastructure and expertise, the combined business is well positioned for further expansion, enabling scalable project teams to meet the demands of clients across various industries, including communications, consumer and industrial, federal, financial services, healthcare, technology, and utilities. This acquisition not only underscores TSG’s commitment to delivering high-quality, innovative solutions but also strengthens its end-to-end consulting services, accelerates its strategic growth plan, welcomes new enterprise clients, enhances its leadership team, and expands its geographic reach, including a notable presence in the Pacific Northwest.
“We are excited about this acquisition and the opportunity to join The Select Group, whose deep experience in technology consulting has been consistently reflected in their innovative solutions and client-focused approach,” said Jason Herman, Executive Vice President at Bluehawk. “As a combined business with a set of shared values, we remain fully committed to ensuring business continuity while enhancing the support we provide to our clients. Together, we will deliver even greater value, creating meaningful growth opportunities for both our clients and our employees.”
“Bluehawk’s talented leadership team has built a premier technology consulting business that has a remarkable reputation with its enterprise clients,” said George Karakostantis, CEO of TSG. “Bluehawk’s approach mirrors our own dedication to delivering deep expertise and a consultative partnership to ensure our clients achieve project success. Importantly, the acquisition diversifies our portfolio, bolsters our industry footprint, and accelerates our growth trajectory.”
Houlihan Lokey served as the exclusive sellside financial advisor.
Houlihan Lokey’s IT Services team is among the most active M&A advisors in the market, having closed 90+ IT services transactions in the past 24 months. This most recent transaction further strengthens Houlihan Lokey’s leadership in the managed services universe and highlights continued momentum and leadership in its core vertical, which includes cloud/data and analytics, digital engineering, enterprise applications, and managed and security services.
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