Houlihan Lokey Advises Oaktree Capital Management

Houlihan Lokey is pleased to announce that it has advised funds managed by Oaktree Capital Management, L.P. (Oaktree), on the successful refinancing of its portfolio company, The Specialist Group (TSG), an engineering resourcing and related services provider for the critical infrastructure, power, energy, and industrials sectors. The transaction closed in February 2026.

Founded in 2001 and headquartered in Moerdijk, Netherlands, TSG has developed into Western Europe’s leading specialist engineering resourcing and related services platform focused on attractive end markets across critical infrastructure, power, energy, and industrials sectors, significantly scaling internationally since partnering with Oaktree in 2022.

Oaktree’s GFI Energy Group, which executes the Power Opportunities investment strategy, targets specialist platforms that capitalise on macroeconomic trends such as the energy transition and infrastructure modernisation. It focuses on resilient business models with clear growth potential that leverage deep sector expertise to enhance their market leadership.

The transaction establishes an efficient and right-sized capital structure for TSG, supporting its next phase of growth. Houlihan Lokey acted as the exclusive financing advisor to Oaktree and TSG.

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