Houlihan Lokey
Financial Advisor — XPO Brand Divestitures to Extraordinary Brands
Official source ↗Houlihan Lokey carries an RS Index score of 43 out of 100 — Constructed Persona. Low RS scores reflect a documented gap between projected identity and verifiable reality, based on public records, regulatory filings, and franchise relations history. Under standard coalition monitoring.
Background
Houlihan Lokey is the global investment bank that served as financial advisor to Xponential Fitness on the divestiture of its franchise brands to Extraordinary Brands — including the July 2025 CycleBar + Rumble Boxing sale and subsequent Row House + AKT transactions. As financial advisor, Houlihan Lokey structured, negotiated, and facilitated the deals. Notably, the terms of both transactions were not publicly disclosed in XPO's SEC filings — an unusual outcome for a publicly-traded company. Coalition note: when a public company's investment bank structures unreported-terms deals that transfer underperforming franchises to a private holding company shortly before or during regulatory action, the full economic structure of those transactions warrants scrutiny.
Documented Events
1 on recordHoulihan Lokey served as XPO's financial advisor on the CycleBar + Rumble Boxing sale to Extraordinary Brands (July 28, 2025) — and on the subsequent Row House + AKT transaction. In both cases, the financial terms were not disclosed in XPOF's SEC filings. A transaction structured by a major investment bank for a public company, with no disclosed consideration, is atypical. The SEC-filed 8-K for the July 28 deal explicitly states terms were undisclosed while citing Houlihan Lokey as the advisor.
Live Coverage
Work-related public coverage onlyScanning public sources…