Stephen Miles is a founder and managing partner of Livingstone Partners LLC, an international investment banking boutique with over 60 professionals in Chicago, Düsseldorf, London, and Madrid. Livingstone provides advisory services to both healthy and distressed middle market companies with regard to merger and acquisition (M&A) and capital raising transactions. At Livingstone, Steve heads up both the Industrial and Environmental Services sector areas, and chairs the firm's Commitment and Fairness Opinion committees.
Steve began his career at Boatmen's National Bank in St. Louis (subsequently acquired by NationsBank) where he was a Commercial Banking Officer with relationship management and origination responsibilities. After earning an MBA from The Olin School of Business at Washington University in St. Louis, Steve joined the investment banking firm of Goldsmith, Agio, Helms & Company, a middle market M&A advisory boutique. Since then, Steve has spent his entire career advising middle market businesses. From Goldsmith, Steve joined Morgan Keegan & Co. to gain exposure to full service investment banking and the broad range of capital alternatives available to middle market companies. After Morgan Keegan and prior to founding Livingstone, Steve was a Managing Director at Brown, Gibbons, Lang & Company ("BGL"). It was at BGL that Steve gained his first exposure to "distressed" investment banking advisory services. Steve was instrumental in driving substantial growth at BGL, which grew its Chicago operation from two bankers when he joined to some 25 upon his departure.
Over the course of his career, Steve has successfully completed over 40 transactions including both buy-side and sell-side M&A advisory work, capital raises consisting of senior and junior debt securities, convertible and redeemable preferred securities and common equity securities, and the rendering of both Fairness and Solvency Opinions. In the distressed arena, Steve has managed both Section 363 auctions and Assignments for the Benefit of Creditors, he has negotiated forbearance agreements, debt-for-equity swaps, and other negotiated balance sheet restructurings on behalf of his clients, and has testified as an expert witness with respect to value in a Chapter 11 bankruptcy proceeding.
Steve holds a BS in Accountancy from the University of Missouri and an MBA from Washington University with a concentration in Finance. Steve is a frequent speaker on topics related to middle market capital transactions and is a guest lecturer at the University of Chicago Law School.