Livingstone Assembles Bank Club for Android Industries

Livingstone’s Debt Advisory team is pleased to announce it has raised growth financing for Android Industries, L.L.C. (“Android” or the “Company”).  Livingstone acted as exclusive financial advisor to the Company, helping to structure, arrange and negotiate the financing.

The financing consisted of an ABL revolver, agented by Bank of America, N.A. with Wells Fargo Bank N.A. and J.P. Morgan Chase Bank N.A. as participants. Livingstone also raised two term loan facilities – the first agented by Santander Bank, N.A. with Wintrust Asset Finance Inc., MB Equipment Finance, L.L.C., and Suntrust Bank N.A. as participants, and the second with Banco Santander (México), SA. Terms of the deals were not disclosed.

Android is a global assembly integrator, sequencer and supply chain manager of complex modules, serving the automotive OEMs in North America, South America, Europe, and Asia with 26 facilities operating across four continents. Since 1974, the Company has provided the industry with flexible, scalable solutions easily adaptable to fluctuating market demands, propelling them to market leadership. The credit facilities provide Android liquidity to support its global operations following significant new contract wins in both the U.S. and Mexico.

Android’s CFO Greg Nichols, stated, “Livingstone’s grasp of both the auto sector and the international credit markets allowed us to efficiently clear the market and structure the deals in a manner that is both creative and effective.” 

Tom Lesch, Partner of Livingstone’s Debt Advisory practice, noted, “The scale and cross-border aspects of this deal allowed our firm to utilize our global capabilities in successfully structuring Android’s international credit facilities.”

Mark Birkett, Managing Director, added, “Putting together a large international bank club transaction allows Android to execute on their international growth plan while using only senior commercial bank funding sources.”

The Company was represented by the law firm of Kerr, Russell & Weber  PLC, while Vedder Price P.C. represented Bank of America and Chapman and Cutler LLP represented Santander Bank N.A. The Android transaction marks Livingstone’s 60th transaction closed this year.