Livingstone, the leading independent, international investment banking firm, is pleased to announce the successful refinancing of McAninch Corporation (“McAninch” or the “Company”) by The Private Bank and Trust Company (“PrivateBank”). Livingstone acted as the exclusive financial advisor to McAninch. Terms of the deal were not disclosed.
McAninch is a leading heavy civil infrastructure contractor providing earthmoving, grading and underground utility construction services to public and private sector clients throughout Iowa and Missouri. The Company’s heavy civil construction projects include highway and street infrastructure, power plants, commercial and residential developments, and flood control levees. The Company is nationally recognized as one of the most technically advanced earthmoving contractors.
President of McAninch, Doug McAninch said, “The Livingstone team was without a doubt the right partner for McAninch. They provided great guidance and were an invaluable component to our refinancing process.”
“The Company has a well-respected reputation in the business with long-standing local and regional relationships spanning 40+ years. We’re proud to have represented McAninch and secured the ideal senior lender to position McAninch for future growth and continued market leadership,” added Livingstone Managing Director Joe Greenwood.
“The McAninch transaction represents another successful closing for Livingstone in the construction services sector,” said Karl Freimuth, Vice President at Livingstone. “The Company’s management team is to be commended for successfully operating through challenging market headwinds and seeing this deal through to a closing.”
Including McAninch, Livingstone has completed six significant refinancings within the past 12 months.
