The southern emission-line star HD 144432 has received considerable attention due to its relative brightness (V ∼ 8.17), its late spectral type (late A-type or perhaps early F) and its relative isolation from a bona-fide active star formation region. We present new imaging and spectroscopic data of this star, which in the past has been classified as both an evolved (post-AGB) object and an isolated Herbig Ae/Be star. We confirm the presence of a faint companion source located 1.4″ north, which appears physically associated with HD 144432. New infrared spectroscopy reveals this companion to be a late-type (early-mid K) star, devoid of any emission lines. Furthermore, we confirm the pre-main sequence nature of this object, report the detection of Li I 6707.8 Å absorption toward the HD 144432 system, and its apparent association with Sco OB2-2 located at 145 pc.