ORIX Corporation to Acquire Majority Stake in Hilco Global

ORIX Corporation USA and Hilco Global have entered into a definitive agreement under which ORIX USA will acquire an approximately 71.4% majority equity ownership of Hilco Global, with the remaining 28.6% to be retained by the management team. The deal values the transaction at $776 million and is expected to close by the end of the third quarter.

The proposed transaction will accelerate ORIX USA’s growth by adding Hilco Global’s valuation expertise, advisory platform, and asset-based lending investment capabilities to expand ORIX USA’s middle-market-focused credit platform.

Under the terms of the agreement, Jeffrey Hecktman, Executive Chairman, Chief Executive Officer, and Founder of Hilco Global, will continue to lead Hilco Global as Chief Executive Officer. Additionally, Hilco Global will operate as a subsidiary of ORIX USA, with ORIX committing $1 billion to support Hilco’s new direct lending business focused on private credit.

“Hilco Global is an industry leader with an impressive reputation and robust experience, and we are proud to welcome them to ORIX USA,” said Terry Suzuki, President and Chief Executive Officer of ORIX USA.

Davis Polk & Wardwell LLP provided legal counsel to ORIX USA. J.P. Morgan Securities LLC served as Hilco Global’s financial advisor, and Kirkland & Ellis LLP and Greenberg Traurig LLP provided legal counsel.