ORIX USA and Hilco Global, a diversified global financial services firm headquartered outside of Chicago, IL, entered into a definitive agreement under which ORIX USA will acquire a majority equity ownership of Hilco Global. The proposed transaction is aimed at accelerating ORIX USA’s growth by adding Hilco Global’s valuation expertise, advisory platform and asset-based lending investment capabilities to complement and expand ORIX USA’s middle-market focused credit platform.
The proposed transaction will be the foundation of a new asset-based lending arm, which will combine Hilco Global’s expertise in and access to tangible and intangible assets with ORIX USA’s capital and lending capabilities.
Under the terms of the agreement, Jeffrey B. Hecktman, executive chairman, CEO and founder of Hilco Global, will continue to lead Hilco Global as CEO, and Hilco Global’s executive leadership and partner base will retain a minority equity ownership position going forward. Additionally, Hilco Global will operate as a subsidiary of ORIX USA.
“Hilco Global is an industry leader with an impressive reputation and robust experience, and we are proud to welcome them to ORIX USA,” Terry Suzuki, president and CEO of ORIX USA, said. “ORIX USA has achieved its steady growth in part through the strategic acquisition of best-in-class businesses. As we evaluate our next chapter, clearly Hilco Global seamlessly fits into our team while also bringing new expertise, relationships and sources of origination that will create value for our investors, clients and partners.”
“For more than 38 years, Hilco Global has built a legacy to be proud of, partnering with lenders, advisors and companies around the globe as their trusted agent, investor, principal, and advisor of choice,” Hecktman said. “Today’s announcement marks an important milestone in our journey to becoming the preeminent investment management and advisory firm, having found in ORIX USA the ideal partner to help us accelerate our momentum, expand the innovative services and solutions we offer clients and drive growth and profitability for our company in the years ahead.”
“The Hilco Global platform consistently generates a unique and rich source of investment opportunities. I look forward to working with Jeff and the Hilco Global team to build out a truly differentiated asset-based lending business,” Jeff Abrams, group head of private credit and real estate at ORIX USA, said. “Furthermore, Hilco Global’s advisory business is primed for growth and will be a key strategic focus going forward.”
The transaction is expected to close in Q3/25 after the satisfaction of customary closing conditions and the receipt of required regulatory approvals.
Davis Polk & Wardwell provided legal counsel to ORIX USA. J.P. Morgan Securities served as financial advisor to Hilco Global, and Kirkland & Ellis and Greenberg Traurig provided legal counsel.
