Livingstone expands Debt Advisory team

Two senior hires support growth plans for 2012

Livingstone has appointed Bill Troup as Managing Director, Debt Advisory in London and Thomas Lesch, Vice President in Chicago to add further strength to its international Debt Advisory team. The team completed 11 deals in 2011 worth £235m out of Livingstone’s total 43 deals worth £1.6bn. Debt Advisory represents a major growth area in which Livingstone has an established track record.

Bill Troup has worked in mergers and acquisitions (M&A) in industry as well as a 17 year career in banking, private equity and debt advisory. With Royal Bank of Scotland’s Leveraged Finance group he set up their Scotland team and led their subsequent expansion into Europe. He was Managing Director of Caledonian Capital, RBS’s larger deal joint venture with Bank of Scotland. Bill spent four years as Managing Director of Royal Bank Ventures before leaving to set up debt advisory consultancy Capital Advisers in 2005.

Thomas Lesch began his career with GE, working in its Corporate Financial Services and Fleet Services divisions. Prior to joining Livingstone‘s debt advisory team he specialised in providing commercial finance to the middle market at BMO Harris Bank and Bank of America/La Salle Bank.

Troup commented, “I am delighted to be joining Livingstone, having worked alongside them on prior transactions. The Debt Advisory team has a strong track record, on both sides of the Atlantic and I am excited about the opportunity to develop this further in the UK. Businesses face unprecedented challenges in terms of raising new finance and dealing with the impact of over-leverage and lower liquidity. The lower mid-market has been under-served by mainstream advisers in recent years and Livingstone’s reputation for delivering transactions makes it an obvious choice for owner-managers, private equity and borrowers needing expert advice.”

Partner at Livingstone London Patrick Groarke added, “Bill is widely respected across industry, banking and private equity so we are delighted he has chosen to come on board. His blend of experience in M&A and portfolio management enables him to offer clear, practical advice that we believe is exactly what the market needs at this time. The well-publicised problems amongst the banks and threat of further recession mask the reality that the UK remains home to many good businesses. The Debt Advisory team works with all stakeholders to deliver creative solutions in any environment. Livingstone’s 35 year history of working within the lower mid-market makes us uniquely placed in this regard.”

Livingstone’s international Debt Advisory team delivers advice and support with raising new debt and refinancing existing facilities, as well as managing covenant breaches and debt restructuring in distress situations. Across its offices in the UK, United States and Europe, Livingstone has experienced significant expansion in its Debt Advisory services. The appointment of Bill and Thomas brings this team’s complement to 5 professionals.