UL Solutions - Gallant

Houlihan Lokey is pleased to announce that UL Solutions Inc. (NYSE:ULS) has sold its payment testing business to an affiliate of Gallant Capital Partners (Gallant). The transaction closed on May 1, 2024.

In connection with this transaction, Gallant has also acquired Fime, a Paris-based company, which, like the former UL Solutions payments testing business, provides customers with reliable and secure transaction experiences across payments, smart mobility, and digital identity.

A global leader in applied safety science, UL Solutions transforms safety, security, and sustainability challenges into opportunities for customers in more than 100 countries. UL Solutions delivers testing, inspection, and certification services, together with software products and advisory offerings, that support its customers’ product innovation and business growth. The UL Mark serves as a recognized symbol of trust in its customers’ products and reflects an unwavering commitment to advancing its safety mission.

Gallant, based in Los Angeles, California, is a private equity firm that invests in technology, business services, and industrial companies. Gallant executes an operationally focused investment strategy with a priority on partnering closely with companies that can benefit from its extensive industry relationships and operating expertise. The firm partners with owners, founders, and management teams to maximize value and drive long-term, sustainable growth for its portfolio companies.

Fime, with more than 800 experts and employees around the world, enables its clients to create and launch trusted and secure solutions through its consulting and testing services in payments, smart mobility, and digital identity. It offers a global cross-industry perspective, local insights, and a unique heritage in testing and certification. Fime’s consultants provide transformative business expertise, partnering with organizations worldwide to define, design, deliver, and test their products and services.

Houlihan Lokey served as the exclusive financial advisor to UL Solutions and played a critical role in marketing, structuring, and negotiating the transaction. This deal exemplifies the continued success of Houlihan Lokey’s dedicated global coverage of the testing, inspection, certification, and compliance sector.