Houlihan Lokey Advises Langan Engineering & Environmental Services

Houlihan Lokey is pleased to announce that Langan Engineering and Environmental Services (Langan) has received a minority equity investment from the investment funds managed by TowerBrook Capital Partners (TowerBrook), the New York and London-based international investment firm, as well as a senior secured credit facility consisting of a revolver, term loan, and delayed-draw term loan. Under the terms of the agreement, Langan’s management and employee shareholders will maintain majority ownership and control of the Company. The transaction closed on January 16, 2024.

Langan provides comprehensive environmental and engineering consulting services to a broad array of clients on a national and international scale. Founded in 1970, Langan employs 1,600 professionals and has 38 offices throughout the U.S., including New Jersey, New York, Florida, Texas, California, Pennsylvania, Connecticut, Massachusetts, Virginia, Washington, D.C., Ohio, Illinois, Tennessee, North Carolina, Arizona, Colorado, Utah, and Washington. Langan International, the firm’s wholly owned subsidiary based in New York, has five offices in Athens, Dubai, Calgary, London, and Panama. Consistently ranked among the top “Best Firms to Work For” (Zweig White) and among the top 50 firms worldwide (Engineering News-Record 500), Langan prioritizes health and safety; embraces and promotes diversity and inclusion; encourages volunteerism and philanthropy; and operates as a carbon-neutral business.

TowerBrook Capital Partners is a purpose-driven, transatlantic investment management firm that has raised in excess of $22.8 billion to date. As a disciplined investor with a commitment to fundamental value, TowerBrook seeks to deliver superior, risk-adjusted returns to investors on a consistent basis, guided by TowerBrook Responsible OwnershipTM principles, which are central to the firm’s value creation strategy. TowerBrook partners with talented, experienced managers and senior advisors who share the firm’s values and support its investment objectives, providing capital and resources to transform the capabilities and prospects of the businesses in which it invests, driving better outcomes for all stakeholders. TowerBrook takes an entrepreneurial, multinational, single-team approach and, since its inception in 2001, has invested in more than 90 companies on both sides of the Atlantic. TowerBrook is the first mainstream private equity firm to be certified as a B Corporation, demonstrating leadership in its commitment to environmental, social, and governance (ESG) standards and responsible business practices.

Houlihan Lokey served as the lead financial advisor and placement agent to Langan, assisting in arranging, structuring, and negotiating the concurrent sale of a minority equity stake in and debt financings on behalf of the company. This deal exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the engineering and infrastructure services sector and our ongoing success and momentum in simultaneously raising equity and debt capital for our clients against a backdrop of market volatility.

Houlihan Lokey’s Capital Markets Group is one of the largest providers of private capital solutions in the world, raising approximately $26 billion in capital and advising on an additional $9 billion across more than 250 transactions over the past two fiscal years.