Livingstone Expands Into Germany

Livingstone, a Chicago-based investment bank focused on the middle markets, has expanded into Germany by merging with Alarius GmbH.


Livingstone, the leading independent, international investment banking firm, has announced its expansion into Germany through a deal with middle market specialists Alarius GmbH (“Alarius”).

The operational integration of the businesses – with Alarius becoming Livingstone – will take effect immediately. The integration reunites Alarius partners Christian Grandin, Jochen Hense and Ralph Hagelgans with many former colleagues at Livingstone, with whom they co-operated closely for over a decade as part of Livingstone’s former international network.

The Düsseldorf-based advisory team of 10 will join Livingstone’s 65 staff across its offices in Chicago, London and Madrid and will provide Livingstone’s clients with enhanced depth in Europe, specifically in Germany, Austria and Switzerland.

Steve Miles, partner at Livingstone Chicago commented, “A core plank of Livingstone’s strategy is continuing to build on our global sector expertise and the German team’s extensive experience and contacts – in the industrial space in particular – will bring further depth to our existing practice.”

Christian Grandin added, “We are excited to be working again with the Livingstone team. We established Alarius to deliver the very best of mid-market M&A advice to our clients in Germany and always envisioned becoming a truly international firm. After closing 10 deals since founding Alarius in early 2009, joining Livingstone now gives our clients direct access to acquisition targets, potential buyers and investors around the world.”

Since the international integration of Livingstone in 2007, the firm has completed over 100 deals with aggregate deal value of more than $6 billion.