Lindsay Goldberg Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Lindsay Goldberg has acquired 8 companies. It has also invested in 1 other.

Lindsay Goldberg’s most common sectors for investment arefood (9%) and packaging (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (43%) and secondary buyout (22%). In total, Lindsay Goldberg has invested in 21 US states and 7 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 6 companies. The Firm’s most common exit type is secondary buyout (43%). 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 Activity96
- M&A Buy Activity56
- M&A Sell Activity40
Total Sectors Invested 26
Total Countries Invested 7
M&A Buy/Sell Connections 25
M&A Advisors 10

Lindsay Goldberg

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

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

250

Enterprise Value

values in millions of USD

Year	≤ '19	'20	'21	'22	'23	'24	T
Buy (2.2/yr)	#	45	2	4	2	2	1	56
vol	$3.5B						$3.5B
Sell (1.6/yr)	#	32	2	3	3	-	-	40
vol	$10.9B						$10.9B
	96

Year

≤ '19

'20

'21

'22

'23

'24

Buy (2.2/yr)

vol

$3.5B

Sell (1.6/yr)

vol

$10.9B

Company	Date	Value	Type
Golden State Foods Corp.	2024-08-08	-	Buyout (LBO, MBO, MBI)
Irvine, California · www.goldenstatefoods.com
Kleinfelder Group, Inc.	2023-09-19	-	Secondary Buyout
San Diego, California · www.kleinfelder.com
Lightwave Dental Management LLC	2023-07-05	-	Secondary Buyout
Woodbridge, Virginia · www.lightwavedental.com
Crown Paper Group, Inc.	2022-10-11	-	Secondary Sale
Port Townsend, Washington
MMS Holdings, Inc.	2022-06-28	-	Growth Capital
Canton, Michigan · www.mmsholdings.com
Pixelle Specialty Solutions LLC	2022-04-04	-	Secondary Sale
Spring Grove, Pennsylvania · www.pixelle.com
PACCOR Packaging GmbH	2022-01-03	-	Trade Sale
Dusseldorf, Germany · www.paccor.com
Doppler Veterinary Network LLC	2022-01-01	-	Buyout (LBO, MBO, MBI)
Baltimore, Maryland · www.dopplerveterinary.com
PT Solutions	2021-12-17	-	Secondary Sale
Atlanta, Georgia · www.ptsolutions.com
Summit Interconnect, Inc.	2021-09-27	-	Secondary Buyout
Anaheim, California · www.summitinterconnect.com
View All >>

Company

Date

Value

Type

Golden State Foods Corp.

2024-08-08

Buyout (LBO, MBO, MBI)

Irvine, California · www.goldenstatefoods.com

Kleinfelder Group, Inc.

2023-09-19

Secondary Buyout

San Diego, California · www.kleinfelder.com

Lightwave Dental Management LLC

2023-07-05

Secondary Buyout

Woodbridge, Virginia · www.lightwavedental.com

Crown Paper Group, Inc.

2022-10-11

Secondary Sale

Port Townsend, Washington

MMS Holdings, Inc.

2022-06-28

Growth Capital

Canton, Michigan · www.mmsholdings.com

Pixelle Specialty Solutions LLC

2022-04-04

Secondary Sale

Spring Grove, Pennsylvania · www.pixelle.com

PACCOR Packaging GmbH

2022-01-03

Trade Sale

Dusseldorf, Germany · www.paccor.com

Doppler Veterinary Network LLC

2022-01-01

Buyout (LBO, MBO, MBI)

Baltimore, Maryland · www.dopplerveterinary.com

PT Solutions

2021-12-17

Secondary Sale

Atlanta, Georgia · www.ptsolutions.com

Summit Interconnect, Inc.

2021-09-27

Secondary Buyout

Anaheim, California · www.summitinterconnect.com

View All >>

Company	Acquired	Add-On/Sale	Date	#
Liveo Research AG	2019-11-11	Spica S.r.l.	2021-07-12	1
Basel, Switzerland · www.liveoresearch.com	Castiglione Olona, Italy · www.spica.eu
Amentum Services, Inc.	2019-10-14	DynCorp International LLC	2020-09-24	2
Chantilly, Virginia · www.amentum.com	McLean, Virginia · www.dyn-intl.com

Company

Acquired

Add-On/Sale

Date

Liveo Research AG

2019-11-11

Spica S.r.l.

2021-07-12

Basel, Switzerland · www.liveoresearch.com

Castiglione Olona, Italy · www.spica.eu

Amentum Services, Inc.

2019-10-14

DynCorp International LLC

2020-09-24

Chantilly, Virginia · www.amentum.com

McLean, Virginia · www.dyn-intl.com

Sector	Current #	Value	All-time #	Value
Food	2 (13%)	-	5 (9%)	-
Packaging	2 (13%)	-	5 (9%)	-
Healthcare Services	1 (6%)	-	4 (7%)	-
Manufacturing	1 (6%)	-	3 (5%)	500M (14%)
Forest Products	-	-	3 (5%)	360M (10%)
Insurance	-	-	3 (5%)	283M (8%)
Business Services	1 (6%)	-	3 (5%)	-
Construction	-	-	3 (5%)	-
Energy Services and Equipment	1 (6%)	-	3 (5%)	-
Engineering	2 (13%)	2.4B (100%)	2 (4%)	2.4B (68%)
Distribution	-	-	2 (4%)	-
Environmental	-	-	2 (4%)	-
Information Technology	-	-	2 (4%)	-
Leisure	1 (6%)	-	2 (4%)	-
Life Science	1 (6%)	-	2 (4%)	-
Metals/Mining	-	-	2 (4%)	-
Real Estate	1 (6%)	-	2 (4%)	-
Automotive	1 (6%)	-	1 (2%)	-
Chemicals	-	-	1 (2%)	-
Consumer Services	1 (6%)	-	1 (2%)	-
Defense	-	-	1 (2%)	-
Financial Services	-	-	1 (2%)	-
Machinery	-	-	1 (2%)	-
Marketing	-	-	1 (2%)	-
Oil/Gas Exploration	-	-	1 (2%)	-
Semiconductors	1 (6%)	-	1 (2%)	-
Total	16	$2.4B	57	$3.5B

Sector

Current #

Value

All-time #

Value

Food

2 (13%)

5 (9%)

Packaging

2 (13%)

5 (9%)

Healthcare Services

1 (6%)

4 (7%)

Manufacturing

1 (6%)

3 (5%)

500M (14%)

Forest Products

3 (5%)

360M (10%)

Insurance

3 (5%)

283M (8%)

Business Services

1 (6%)

3 (5%)

Construction

3 (5%)

Energy Services and Equipment

1 (6%)

3 (5%)

Engineering

2 (13%)

2.4B (100%)

2 (4%)

2.4B (68%)

Distribution

2 (4%)

Environmental

2 (4%)

Information Technology

2 (4%)

Leisure

1 (6%)

2 (4%)

Life Science

1 (6%)

2 (4%)

Metals/Mining

2 (4%)

Real Estate

1 (6%)

2 (4%)

Automotive

1 (6%)

1 (2%)

Chemicals

1 (2%)

Consumer Services

1 (6%)

1 (2%)

Defense

1 (2%)

Financial Services

1 (2%)

Machinery

1 (2%)

Marketing

1 (2%)

Oil/Gas Exploration

1 (2%)

Semiconductors

1 (6%)

1 (2%)

Total

$2.4B

$3.5B

State/Country	Current #	Value	All-time #	Value
United States	15 (94%)	2.4B (100%)	46 (81%)	3.5B (100%)
	Texas	-	-	8 (14%)	283M (8%)
	California	5 (31%)	-	7 (12%)	-
	Virginia	2 (13%)	2.4B (100%)	4 (7%)	2.4B (68%)
	Massachusetts	2 (13%)	-	3 (5%)	-
	North Carolina	1 (6%)	-	3 (5%)	-
	Florida	1 (6%)	-	3 (5%)	-
	Maryland	2 (13%)	-	2 (4%)	-
	Pennsylvania	-	-	2 (4%)	360M (10%)
	New York	-	-	2 (4%)	-
	Nevada	1 (6%)	-	1 (2%)	-
	Michigan	1 (6%)	-	1 (2%)	-
	Kentucky	-	-	1 (2%)	500M (14%)
	Ohio	-	-	1 (2%)	-
	New Jersey	-	-	1 (2%)	-
	Kansas	-	-	1 (2%)	-
	Illinois	-	-	1 (2%)	-
	Georgia	-	-	1 (2%)	-
	Connecticut	-	-	1 (2%)	-
	Washington	-	-	1 (2%)	-
	Utah	-	-	1 (2%)	-
	Tennessee	-	-	1 (2%)	-
Germany	-	-	4 (7%)	-
Netherlands	-	-	2 (4%)	-
Norway	-	-	2 (4%)	-
Switzerland	1 (6%)	-	1 (2%)	-
Canada	-	-	1 (2%)	-
	Ontario	-	-	1 (2%)	-
Austria	-	-	1 (2%)	-
Domestic	15 (94%)	2.4B (100%)	46 (81%)	3.5B (100%)
Cross-border	1 (6%)	-	11 (19%)	-
Total	16	$2.4B	57	$3.5B

State/Country

Current #

Value

All-time #

Value

United States

15 (94%)

2.4B (100%)

46 (81%)

3.5B (100%)

Texas

8 (14%)

283M (8%)

California

5 (31%)

7 (12%)

Virginia

2 (13%)

2.4B (100%)

4 (7%)

2.4B (68%)

Massachusetts

2 (13%)

3 (5%)

North Carolina

1 (6%)

3 (5%)

Florida

1 (6%)

3 (5%)

Maryland

2 (13%)

2 (4%)

Pennsylvania

2 (4%)

360M (10%)

New York

2 (4%)

Nevada

1 (6%)

1 (2%)

Michigan

1 (6%)

1 (2%)

Kentucky

1 (2%)

500M (14%)

Ohio

1 (2%)

New Jersey

1 (2%)

Kansas

1 (2%)

Illinois

1 (2%)

Georgia

1 (2%)

Connecticut

1 (2%)

Washington

1 (2%)

Utah

1 (2%)

Tennessee

1 (2%)

Germany

4 (7%)

Netherlands

2 (4%)

Norway

2 (4%)

Switzerland

1 (6%)

1 (2%)

Canada

1 (2%)

Ontario

1 (2%)

Austria

1 (2%)

Domestic

15 (94%)

2.4B (100%)

46 (81%)

3.5B (100%)

Cross-border

1 (6%)

11 (19%)

Total

$2.4B

$3.5B

Type	Current #	Value	All-time #	Value
Buyout (LBO, MBO, MBI)	8 (50%)	-	24 (42%)	783M (22%)
Secondary Buyout	4 (25%)	-	12 (21%)	-
Divestiture	2 (13%)	2.4B (100%)	8 (14%)	2.8B (78%)
Growth Capital	1 (6%)	-	5 (9%)	-
Joint Venture	1 (6%)	-	3 (5%)	-
Consolidation	-	-	2 (4%)	-
Stake Purchase	-	-	2 (4%)	-
Recapitalization	-	-	1 (2%)	-
Total	16	$2.4B	57	$3.5B

Type

Current #

Value

All-time #

Value

Buyout (LBO, MBO, MBI)

8 (50%)

24 (42%)

783M (22%)

Secondary Buyout

4 (25%)

12 (21%)

Divestiture

2 (13%)

2.4B (100%)

8 (14%)

2.8B (78%)

Growth Capital

1 (6%)

5 (9%)

Joint Venture

1 (6%)

3 (5%)

Consolidation

2 (4%)

Stake Purchase

2 (4%)

Recapitalization

1 (2%)

Total

$2.4B

$3.5B

Type	Total #	Value
Secondary Sale	18 (45%)	2.2B (20%)
Trade Sale - Public Company	8 (20%)	6.8B (62%)
IPO	6 (15%)	-
Trade Sale	5 (13%)	1.5B (14%)
Sold to Management	1 (3%)	455M (4%)
Merger	1 (3%)	-
Shut Down	1 (3%)	-
Total	40	$10.9B

Type

Total #

Value

Secondary Sale

18 (45%)

2.2B (20%)

Trade Sale - Public Company

8 (20%)

6.8B (62%)

IPO

6 (15%)

Trade Sale

5 (13%)

1.5B (14%)

Sold to Management

1 (3%)

455M (4%)

Merger

1 (3%)

Shut Down

1 (3%)

Total

$10.9B

Financial	Deals
RBC Capital Markets	1
Stifel, Nicolaus & Co., Inc.	1
J.P. Morgan Securities	1

Financial

Deals

RBC Capital Markets

Stifel, Nicolaus & Co., Inc.

J.P. Morgan Securities

Legal	Deals
Cravath, Swaine & Moore	3
Weil Gotshal & Manges	2
McDermott Will & Emery	1

Legal

Deals

Cravath, Swaine & Moore

Weil Gotshal & Manges

McDermott Will & Emery

buy	#	Total
> $1B	1	$2.4B
$100M to $1B	3	$1.1B
TOTAL	$3.5B
Largest	Amentum Services, Inc. $2.4B (2019-10-14)

buy

Total

> $1B

$2.4B

$100M to $1B

$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)

sell

Total

> $1B

$6.3B

$100M to $1B

$4.6B

TOTAL

$10.9B

Largest

Bluegrass Materials Company LLC
$1.6B (2017-06-26)

		Deals
Acquired from
Investor(s)	25%	14 (25%)
Strategic(s)	14%	8 (14%)
Exited to
Investor(s)	43%	17 (43%)
Strategic(s)	33%	13 (33%)

Deals

Acquired from

Investor(s)

14 (25%)

Strategic(s)

8 (14%)

Exited to

Investor(s)

17 (43%)

Strategic(s)

13 (33%)

FAQ

When was Lindsay Goldberg founded?

Lindsay Goldberg was founded in 2001.

What type of investor is Lindsay Goldberg?

Lindsay Goldberg is a private equity firm.

Where is Lindsay Goldberg headquartered?

Lindsay Goldberg is headquartered in New York, New York.

How much capital does Lindsay Goldberg have under management?

Lindsay Goldberg has 17.0B USD under management.

Lindsay Goldberg Mergers and Acquisitions Summary

Private Equity Firm Profile

M&A Summary