Littlejohn Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Littlejohn has acquired 6 companies. It has also invested in 3 others.

Littlejohn’s most common sectors for investment aredistribution (10%) and consumer products (8%) . The Firm’s most common investment types include secondary buyout (46%) and buyout (lbo, mbo, mbi) (22%). In total, Littlejohn has invested in 24 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2019 when it acquired Kaman Industrial Technologies for $700M.

In the last 3 years, Littlejohn has exited 11 companies. The Firm’s most common exit type is trade sale (46%). Littlejohn’s largest (disclosed) exit occurred in 2021 when it sold Interior Logic Group for $1.6B.

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M&A Summary

  • M&A Total Activity112
    • M&A Buy Activity64
    • M&A Sell Activity48
  • Total Sectors Invested 29
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 39
  • M&A Advisors 19

Littlejohn

Littlejohn & co.

8 Sound Shore Drive, Suite 303,
Greenwich, Connecticut 06830
United States
(203) 552-3500
www.littlejohnllc.com
info@littlejohnllc.com

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.


Investment Criteria

Sectors of Interest: Aerospace, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Consumer Products, Defense, Distribution, Electrical Equipment, Engineering, Environmental, Food, Forest Products, Healthcare Services, Information Technology, Internet Software and Services, Machinery, Manufacturing, Marine, Metals/Mining, Packaging, Plastics, Renewable Energy, Retail, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Special Situations/Distressed, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 100 800
Target EBITDA - -
Investment Size 50 250
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.2/yr) # 53 2 3 4 1 1 64
vol $1.3B $1.3B
Sell (2.6/yr) # 35 2 5 1 1 4 48
vol $2.8B $4.2B $425M $7.4B
  112

Most Recent M&A

Company Date Value Type
Broder Bros., Co. 2024-08-06 - Trade Sale
Trevose, Pennsylvania · www.alphabroder.com
Motion Recruitment Partners LLC 2024-05-03 425M USD Trade Sale
Boston, Massachusetts · www.motionrecruitment.com
Strategic Materials, Inc. 2024-04-23 - Trade Sale
Houston, Texas · www.strategicmaterials.com
United Air Temp, Air Conditioning and Heating LLC 2024-04-01 - Secondary Buyout
Lorton, Virginia · www.unitedairtemp.com
Dana Kepner Company LLC 2024-01-30 - Trade Sale
Denver, Colorado · www.danakepner.com
The Cook & Boardman Group LLC 2023-09-29 - Secondary Sale
Winston-Salem, North Carolina · www.cookandboardman.com
Ardurra Group LLC 2023-02-01 - Secondary Buyout
Tampa, Florida · www.ardurra.com
Lipari Foods LLC 2022-10-31 - Secondary Buyout
Warren, Michigan · www.liparifoods.com
The Hiller Companies, Inc. 2022-09-20 - Growth Capital
Mobile, Alabama · www.hillercompanies.com
Tidel Engineering LP 2022-02-01 - Trade Sale
Carrollton, Texas · www.tidel.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Interstate Waste Services, Inc. 2020-01-21 Oak Ridge Waste & Recycling LLC 2024-02-12 5
Teaneck, New Jersey · www.interstatewaste.com Danbury, Connecticut · www.oakridgewaste.com
Interstate Waste Services, Inc. 2020-01-21 Solterra Recycling Solutions 2022-05-10 4
Teaneck, New Jersey · www.interstatewaste.com Old Bridge, New Jersey · www.solterrarecycling.com
Brown Jordan International, Inc. 2016-12-19 Pride Family Brands, Inc. 2019-06-05 2
St. Augustine, Florida · www.bji.com Hollywood, Florida · www.pridefamilybrands.com
PlayPower, Inc. 2015-05-18 Playtime LLC 2018-08-01 2
Huntersville, North Carolina · www.playpower.com Englewood, Colorado · www.playtime.com

M&A by Sector

Sector Current # Value All-time # Value
Distribution 1 (6%) - 6 (9%) 700M (52%)
Consumer Products 1 (6%) - 5 (8%) 184M (14%)
Automotive - - 4 (6%) -
Building Materials 1 (6%) - 4 (6%) -
Environmental 1 (6%) - 4 (6%) -
Information Technology 1 (6%) - 4 (6%) -
Business Services 2 (11%) - 3 (5%) -
Machinery 1 (6%) - 3 (5%) -
Transportation 1 (6%) - 3 (5%) -
Apparel/Textiles - - 2 (3%) -
Chemicals 1 (6%) - 2 (3%) -
Construction - - 2 (3%) -
Electrical Equipment - - 2 (3%) -
Engineering 1 (6%) - 2 (3%) -
Safety/Security 2 (11%) - 2 (3%) -
Staffing 1 (6%) - 2 (3%) -
Technology Hardware - - 2 (3%) -
Retail - - 1 (2%) 456M (34%)
Aerospace - - 1 (2%) -
Consumer Services 1 (6%) - 1 (2%) -
Energy Services and Equipment 1 (6%) - 1 (2%) -
Financial Services 1 (6%) - 1 (2%) -
Food - - 1 (2%) -
Forest Products - - 1 (2%) -
Furniture 1 (6%) - 1 (2%) -
Healthcare Services - - 1 (2%) -
Internet Software and Services - - 1 (2%) -
Marine - - 1 (2%) -
Metals/Mining - - 1 (2%) -
Total 18 - 64 $1.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 18 (100%) - 60 (94%) 884M (66%)
  Texas 4 (22%) - 10 (16%) -
  Ohio 2 (11%) - 6 (9%) -
  Pennsylvania - - 5 (8%) -
  New York 2 (11%) - 4 (6%) 184M (14%)
  North Carolina 1 (6%) - 4 (6%) -
  California - - 4 (6%) -
  New Jersey 1 (6%) - 3 (5%) -
  Illinois - - 3 (5%) -
  Florida 2 (11%) - 2 (3%) -
  Oregon 1 (6%) - 2 (3%) -
  Michigan 1 (6%) - 2 (3%) -
  Massachusetts - - 2 (3%) -
  Georgia - - 2 (3%) -
  Virginia 1 (6%) - 1 (2%) -
  Oklahoma 1 (6%) - 1 (2%) -
  Louisiana 1 (6%) - 1 (2%) -
  Alabama 1 (6%) - 1 (2%) -
  Connecticut - - 1 (2%) 700M (52%)
  Wisconsin - - 1 (2%) -
  Tennessee - - 1 (2%) -
  Mississippi - - 1 (2%) -
  Maryland - - 1 (2%) -
  Idaho - - 1 (2%) -
  Colorado - - 1 (2%) -
France - - 2 (3%) -
Canada - - 1 (2%) 456M (34%)
  Quebec - - 1 (2%) 456M (34%)
China - - 1 (2%) -
Domestic 18 (100%) - 60 (94%) 884M (66%)
Cross-border - - 4 (6%) 456M (34%)
Total 18 - 64 $1.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 12 (67%) - 29 (45%) -
Buyout (LBO, MBO, MBI) 1 (6%) - 14 (22%) -
Recapitalization 1 (6%) - 8 (13%) -
Divestiture - - 4 (6%) 700M (52%)
Growth Capital 4 (22%) - 4 (6%) -
Going Private - - 2 (3%) 456M (34%)
Special Situations/Distressed - - 2 (3%) 184M (14%)
Stake Purchase - - 1 (2%) -
Total 18 - 64 $1.3B

Exits by Deal Type

Type Total # Value
Secondary Sale 16 (33%) 2.5B (33%)
Trade Sale - Public Company 13 (27%) 3.6B (49%)
Trade Sale 11 (23%) 1.3B (18%)
Merger 4 (8%) -
Bankruptcy 3 (6%) -
IPO 1 (2%) -
Total 48 $7.4B

Top M&A Advisors

Financial Deals
Harris Williams & Co.
 3
Morgan Stanley
 3
Moelis & Co.
 3
Legal Deals
Gibson, Dunn & Crutcher
 11
Troutman Pepper Hamilton Sanders
 6
Morrison Cohen
 3

Deal Values

buy # Total
$100M to $1B 3 $1.3B
TOTAL $1.3B
Largest Kaman Industrial Technologies Corp.
$700M (2019-06-26)
sell # Total
> $1B 3 $4.2B
$100M to $1B 8 $3.2B
TOTAL $7.4B
Largest Interior Logic Group, Inc.
$1.6B (2021-02-01)

M&A Connections

Deals
Acquired from
Investor(s)
53%
34 (53%)
Strategic(s)
8%
5 (8%)
Exited to
Investor(s)
31%
15 (31%)
Strategic(s)
52%
25 (52%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

7.8B USD

Established

1996

Specialist/Generalist

Generalist

Leadership

Michael Klein

Co-Founder & CEO

Angus Littlejohn Jr.

Co-Founder & Chairman

Richard Maybaum

Co-Head Debt Strategies

Robert Davis

Co-Head Debt Strategies

Antonio Miranda

Managing Director

FAQ

When was Littlejohn founded?

Littlejohn was founded in 1996.

What type of investor is Littlejohn?

Littlejohn is a private equity firm.

Where is Littlejohn headquartered?

Littlejohn is headquartered in Greenwich, Connecticut.

How much capital does Littlejohn have under management?

Littlejohn has 7.8B USD under management.

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