Daily News: July 16, 2013

Livingstone Advises JD Norman Financing by BofA, Medley Capital

Livingstone, an international mid-market M&A and debt advisory firm, announced the successful financing for JD Norman Industries by Bank of America and Medley Capital Corporation. The financing allows the company to expand through the acquisition of two Federal-Mogul carve-outs. Livingstone acted as the exclusive financial advisor to JD Norman. Terms of the deal were not disclosed.

Headquartered in Addison, IL, JD Norman is a diversified manufacturer of metal components and systems with operations in the U.S., Mexico, Canada and the UK. The acquisitions expand JD Norman’s geographical footprint which include a connecting rod machining operation in Windsor, Canada and a camshaft casting foundry in Lydney, England. The products these plants produce further solidify JD Norman as a critical part supplier for automotive powertrain applications.

“Given the multijurisdictional nature of the deal, coupled with the tight time frame we were operating under it was imperative that we partnered with an advisor that had a track record of closing complex debt transactions. Livingstone was instrumental in helping us structure the transaction, while also aligning JD Norman with financial partners who have the wherewithal to support our future growth,” said president and CEO Justin Norman.

“The JD Norman transaction marks Livingstone’s sixth closed debt advisory transaction in six months,” commented Livingstone Debt Capital Markets director Tom Lesch. “As an international firm, these are the types of middle market deals we are accustom to closing. Our collective knowledge of the global debt markets, coupled with first-hand knowledge of foreign secured lending laws allowed us to run a competitive process for JD Norman.”