Lindsay Goldberg Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Lindsay Goldberg has acquired 1 company.

Lindsay Goldberg’s most common sectors for investment arepackaging (12%) and food (8%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (43%) and secondary buyout (20%). In total, Lindsay Goldberg has invested in 19 US states and 8 different countries. Its largest (disclosed) acquisition occurred in 2019 when it acquired Amentum Services for $2.4B.

In the last 3 years, Lindsay Goldberg has exited 2 companies. The Firm’s most common exit type is secondary buyout (44%). Lindsay Goldberg’s largest (disclosed) exit occurred in 2017 when it sold Bluegrass Materials Company for $1.6B.

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M&A Summary

  • M&A Total Activity90
    • M&A Buy Activity51
    • M&A Sell Activity39
  • Total Sectors Invested 25
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 24
  • M&A Advisors 6

Lindsay Goldberg

630 Fifth Avenue, 30th Floor,
New York, New York 10111
United States
(212) 651-1100
www.lindsaygoldbergllc.com
contact@lindsaygoldbergllc.com

Lindsay Goldberg is a large private equity firm that targets investments in traditional, basic industries. Lindsay looks to commit $50 to $250 million per transaction in sectors that include basic & commodity manufacturing, financial services, food, and distribution. Lindsay looks to partner with management in pursuing transactions. Lindsay Goldberg was formerly known as Lindsay Goldberg & Bessemer. The Firm was formed in 2001 and is based in New York City.


Investment Criteria

Sectors of Interest: Agriculture, Beverages, Building Materials, Business Services, Chemicals, Construction, Consumer Products, Defense, Distribution, Energy Services and Equipment, Engineering, Environmental, Financial Services, Food, Healthcare Services, Information Services, Information Technology, Insurance, Life Science, Machinery, Manufacturing, Marketing, Packaging, Real Estate, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Growth Capital, Recapitalization, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 250
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.6/yr) # 48 2 - 1 - - 51
vol $3.5B $3.5B
Sell (1.0/yr) # 34 3 2 - - - 39
vol $10.9B $10.9B
  90

Most Recent M&A

Company Date Value Type
Lightwave Dental Management LLC 2023-06-05 - Buyout (LBO, MBO, MBI)
Woodbridge, Virginia · www.lightwavedental.com
Crown Paper Group, Inc. 2022-10-11 - Secondary Buyout
Port Townsend, Washington
Pixelle Specialty Solutions LLC 2022-04-04 - Secondary Buyout
Spring Grove, Pennsylvania · www.pixelle.com
PT Solutions 2021-12-17 - Secondary Buyout
Atlanta, Georgia · www.ptsolutions.com
Summit Interconnect, Inc. 2021-09-27 - Secondary Buyout
Anaheim, California · www.summit-pcb.com
Delta T LLC 2021-07-20 - Secondary Sale
Lexington, Kentucky · www.bigassfans.com
Schur Flexibles Group 2021-05-17 - Add-on Acquisition
Baden, Austria · www.schurflexibles.com
Aryzta AG - North American Bakery 2021-03-12 - Divestiture
Chicago, Illinois
Pike Corp. 2020-12-21 - Stake Purchase
Mount Airy, North Carolina · www.pike.com
Refresh Management LLC 2020-12-10 - Secondary Buyout
Jacksonville Beach, Florida · www.refreshmh.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
PACCOR International GmbH 2018-07-31 Miko Pac NV 2021-03-31 1
Niedernhall, Germany · www.paccor.com Oud-Turnhout, Belgium · www.mikopac.com
Amentum Services, Inc. 2019-10-14 DynCorp International LLC 2020-09-24 2
Germantown, Maryland · www.amentum.com McLean, Virginia · www.dyn-intl.com

M&A by Sector

Sector Current # Value All-time # Value
Packaging 4 (29%) - 6 (12%) -
Food 1 (7%) - 4 (8%) -
Manufacturing 1 (7%) - 3 (6%) 500M (14%)
Forest Products - - 3 (6%) 360M (10%)
Insurance - - 3 (6%) 283M (8%)
Business Services 1 (7%) - 3 (6%) -
Construction 1 (7%) - 3 (6%) -
Healthcare Services - - 3 (6%) -
Distribution - - 2 (4%) -
Energy Services and Equipment - - 2 (4%) -
Environmental - - 2 (4%) -
Information Technology - - 2 (4%) -
Leisure 1 (7%) - 2 (4%) -
Metals/Mining - - 2 (4%) -
Real Estate 1 (7%) - 2 (4%) -
Engineering 1 (7%) 2.4B (100%) 1 (2%) 2.4B (68%)
Chemicals - - 1 (2%) -
Defense - - 1 (2%) -
Financial Services - - 1 (2%) -
Life Science 1 (7%) - 1 (2%) -
Machinery - - 1 (2%) -
Marketing - - 1 (2%) -
Oil/Gas Exploration - - 1 (2%) -
Semiconductors 1 (7%) - 1 (2%) -
Transportation 1 (7%) - 1 (2%) -
Total 14 $2.4B 52 $3.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 8 (57%) 2.4B (100%) 38 (73%) 3.5B (100%)
  Texas - - 8 (15%) 283M (8%)
  California 2 (14%) - 4 (8%) -
  North Carolina 2 (14%) - 3 (6%) -
  Virginia 1 (7%) - 3 (6%) -
  Maryland 2 (14%) 2.4B (100%) 2 (4%) 2.4B (68%)
  Illinois 1 (7%) - 2 (4%) -
  Pennsylvania - - 2 (4%) 360M (10%)
  New York - - 2 (4%) -
  Florida - - 2 (4%) -
  Kentucky - - 1 (2%) 500M (14%)
  Washington - - 1 (2%) -
  Utah - - 1 (2%) -
  Tennessee - - 1 (2%) -
  Ohio - - 1 (2%) -
  New Jersey - - 1 (2%) -
  Massachusetts - - 1 (2%) -
  Kansas - - 1 (2%) -
  Georgia - - 1 (2%) -
  Connecticut - - 1 (2%) -
Germany 1 (7%) - 4 (8%) -
Norway 2 (14%) - 3 (6%) -
Canada 1 (7%) - 2 (4%) -
  British Columbia 1 (7%) - 1 (2%) -
  Ontario - - 1 (2%) -
Netherlands - - 2 (4%) -
Denmark 1 (7%) - 1 (2%) -
Switzerland 1 (7%) - 1 (2%) -
Austria - - 1 (2%) -
Domestic 8 (57%) 2.4B (100%) 38 (73%) 3.5B (100%)
Cross-border 6 (43%) - 14 (27%) -
Total 14 $2.4B 52 $3.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (36%) - 22 (42%) 783M (22%)
Secondary Buyout 3 (21%) - 10 (19%) -
Divestiture 3 (21%) 2.4B (100%) 8 (15%) 2.8B (78%)
Growth Capital - - 4 (8%) -
Joint Venture 2 (14%) - 3 (6%) -
Consolidation - - 2 (4%) -
Stake Purchase 1 (7%) - 2 (4%) -
Recapitalization - - 1 (2%) -
Total 14 $2.4B 52 $3.5B

Exits by Deal Type

Type Total # Value
Secondary Sale 18 (46%) 2.2B (20%)
Trade Sale - Public Company 8 (21%) 6.8B (62%)
IPO 6 (15%) -
Trade Sale 4 (10%) 1.5B (14%)
Sold to Management 1 (3%) 455M (4%)
Merger 1 (3%) -
Shut Down 1 (3%) -
Total 39 $10.9B

Top M&A Advisors

Financial Deals
Lazard Ltd.
 1
J.P. Morgan Securities
 1
Morgan Stanley
 1
Legal Deals
Cravath, Swaine & Moore LLP
 3
Weil Gotshal & Manges LLP
 2
McDermott Will & Emery LLP
 1

Deal Values

buy # Total
> $1B 1 $2.4B
$100M to $1B 3 $1.1B
TOTAL $3.5B
Largest Amentum Services, Inc.
$2.4B (2019-10-14)
sell # Total
> $1B 5 $6.3B
$100M to $1B 8 $4.6B
TOTAL $10.9B
Largest Bluegrass Materials Company LLC
$1.6B (2017-06-26)

M&A Connections

Deals
Acquired from
Investor(s)
23%
12 (23%)
Strategic(s)
15%
8 (15%)
Exited to
Investor(s)
44%
17 (44%)
Strategic(s)
31%
12 (31%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

17.0B USD

Established

2001

Specialist/Generalist

Generalist

Leadership

Robert Lindsay

Chairman & Co-Founder

Alan Goldberg

Co-Founder & CEO

Robert Dealy

Founding Partner & Finance Director

Jacob Lew

Managing Partner

Michael Dees

Managing Partner

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