Daily News: May 9, 2013

Livingstone Advises on FNA Refi by Bank of America

Investment banking firm Livingstone Partners announced the successful refinancing of The FNA Group by Bank of America. The refinancing approximately doubles FNA’s borrowing capacity and provides the company with the capital it needs to not only execute its core business plan but also aggressively evaluate product line expansion and other strategic growth opportunities. Livingstone acted as the exclusive financial advisor to FNA. Terms of the deal were not disclosed.

“We are thrilled with the opportunity to forge a partnership with Bank of America — a group that clearly articulated their understanding of our business from day one. With Bank of America’s financial wherewithal and the company’s growth plan and vision, we look forward to a very long and prosperous relationship,” said Gus Alexander, founder, CEO and president of FNA. “The refinancing process could not have gone smoother. The Livingstone team outlined a game plan at the onset of our process and executed the plan with precision.”

Elk Grove Village, IL-based FNA is North America’s leading manufacturer of pressure washers, pumps, hoses, and replacement parts to leading retailers throughout the United States.