Houlihan Lokey Advises Interlock Equity

Houlihan Lokey is pleased to announce that Interlock Equity (Interlock) made a growth investment in Apply Digital, a global innovation, products, and experiences company. The transaction closed on December 23, 2021.

Interlock Equity is a private equity firm focused on partnering with leadership teams of knowledge-based businesses. Founded in 2021 and headquartered in Los Angeles, Interlock invests in North America-based companies in the lower middle market. The firm is focused exclusively on partnering with founders of people-based businesses providing mission-critical B2B and healthcare services.

Apply Digital builds the digital presence of industry-leading brands. Influential technology partnerships, modern tech stacks, and a dedication to transforming complex problems into simple digital solutions form the basis of Apply Digital’s award-winning end-to-end strategy, design, and engineering work. The company was founded in 2016 in Vancouver by seasoned industry veterans Gautam Lohia, CEO, and Chris Coghlan, CRO. Since then, Apply Digital has grown to more than 230 employees based in six global offices in Canada, the U.S., Mexico, and the Netherlands. This multinational team stays united through a values-based culture of mutual respect, start-to-finish project ownership, subject expertise, employee growth, and community impact.

Interlock is excited to partner with Apply Digital’s founders and leadership team to support further growth. “Apply Digital’s exceptional growth trajectory is rooted in the ability to combine strategic thought leadership with innovation to deliver tangible, high-ROI solutions for global clients,” said Stefan Jensen, Managing Director at Interlock. “Gautam, Chris, and team have built Apply Digital with a keen focus on the company’s core values. Together we will establish a global reach and expand the capability set while maintaining the company’s unique culture as it scales.”

“Chris and I co-founded Apply Digital with the intent of creating innovative solutions that would positively impact the lives of others. We are pleased to partner with the Interlock team to enable us to continue to drive growth and further our mission,” commented Mr. Lohia. Mr. Coghlan added, “Interlock brings a combination of distinct and substantive strategic support in scaling people-based businesses, and we look forward to building on the Apply Digital of today to continue meeting the needs of our customers, employees, and community.”

Houlihan Lokey served as the financial advisor to Interlock Equity in connection with the transaction. This deal highlights Houlihan Lokey’s leading experience in IT services and represents the firm’s 11th digital transformation transaction completed over the past 12 months.