Livingstone is pleased to announce the addition of Chicago-based Managing Director Michael Jenny. He joins the firm from Houlihan Lokey, where he was a Director in the firm’s Industrials Group.
Michael brings over fifteen years of experience advising on transactions in the metals and manufacturing industries, and looks forward to leveraging the firm’s global platform in an increasingly difficult environment for commodities-based businesses. “While profitable on-trend businesses are still able to transact at full values, we are witnessing increased uncertainty across a number of industrial sectors.
The effects of China’s economic slowdown, together with commodity price decreases, for example, continue to drive consolidation and distress across many mid-market metals and manufacturing-based industries,” said Jenny. “I look forward to working with my new colleagues around the globe and expanding the firm’s breadth of services across a range of manufacturers, distributors, fabricators, recyclers, and other industrial companies.”
“Michael brings crucial expertise to several of Livingstone’s most active industrial subsectors and will actively leverage his deep sector knowledge and relationships to further build our brand in Europe and Asia, in addition to the U.S.,” commented Stephen Miles, Managing Partner at Livingstone. “Many of the companies across the sectors he covers are facing strong economic headwinds and we expect Michael will work closely with our Special Situations team to bring capital markets solutions to distressed market participants.”
Michael’s expertise spans a range of industrial subsectors including steel production and distribution, stainless and specialty alloys, nickel-based superalloys, titanium production, aluminum production and distribution, and ferrous and nonferrous scrap metal. He has worked with well-known companies such as U. S. Steel, Wise Metals Group, Alter Trading Corp., Reliance Steel & Aluminum Co., Lincoln Electric Co., Century Aluminum, Samuel, Son & Co. Ltd. and Haynes International, Inc. His insights have been published in Light Metal Age and American Metal Market.
Prior to Houlihan Lokey, Michael was an Associate with the Fortune Group, a boutique investment bank focusing on middle-market merger, acquisition, and corporate finance advisory services. He holds a B.A. in Political Science and Philosophy from Vanderbilt University and an MBA with a concentration in Finance from the Olin School of Business at Washington University.
Livingstone’s latest U.S. hiring announcement comes amidst a period of expansion for the global firm in North America. Earlier this month, the firm announced the hire of Partner Brennan Libbey to run the firm’s new office in Los Angeles. Livingstone will make additional hiring announcements in the coming months, as the firm’s presence continues to expand across the globe.