M&A Deal Summary

Lindsay Goldberg Acquires Summit Interconnect

On September 27, 2021, private equity firm Lindsay Goldberg acquired semiconductors company Summit Interconnect from HCI Equity Partners and Patriot Capital

Acquisition Highlights
  • This is Lindsay Goldberg’s 1st transaction in the Semiconductors sector.
  • This is Lindsay Goldberg’s 37th transaction in the United States.
  • This is Lindsay Goldberg’s 4th transaction in California.

M&A Deal Summary

Date 2021-09-27
Target Summit Interconnect
Sector Semiconductors
Buyer(s) Lindsay Goldberg
Sellers(s) HCI Equity Partners
Patriot Capital
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)
McDermott Will & Emery (Legal)

Target

Summit Interconnect

Anaheim, California, United States
website
Summit Interconnect is a manufacturer of advanced technology printed circuit boards. Manufacturing services include quick-turn, prototype, and production through our advanced technology facilities located in California. Summit Interconnect was founded in 2016 and is based in Anaheim, California.

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Buyer(S) 1

Buyer

Lindsay Goldberg

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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.


DEAL STATS #
Overall 51 of 53
Sector (Semiconductors) 1 of 1
Type (Secondary Buyout) 10 of 11
State (California) 4 of 5
Country (United States) 37 of 39
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Big Ass Fans

Lexington, Kentucky, United States

Big Ass Fans is a manufacturer of fans, lights, and control systems, with an emphasis on energy efficiency for industrial, commercial, and residential use under the Big Ass Fans, Haiku, and Big Ass Light brands. Big Ass Fans was founded in 1999 and is based in Lexington, Kentucky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 PT Solutions

Atlanta, Georgia, United States

PT Solutions is a provider of physical therapy services through stand-alone, outpatient physical therapy clinics, hospitals, physician groups, and other partners. PT Solutions was founded in 2003 and is based in Atlanta, Georgia.

Sell -

Seller(S) 2

SELLER

HCI Equity Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HCI Equity Partners is a private equity group that targets lower middle-market industrial product and service companies throughout North America. HCI is a 'hands on' investor, looking to assist portfolio companies with growth strategies and improving profitability. The Firm seeks opportunities with $20 to $200 million in revenues and strong management in place. Specific areas of interest include aerospace/defense, automotive and commercial vehicle suppliers, industrial distribution, infrastructure, power generation, test/measurement equipment, and transportation. HCI Equity Partners (fka Thayer | Hidden Creek Partners) is based in Washington DC.


DEAL STATS #
Overall 25 of 26
Sector (Semiconductors) 1 of 1
Type (Secondary Buyout) 8 of 8
State (California) 2 of 2
Country (United States) 23 of 24
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-30 Power & Composite Technologies

Amsterdam, New York, United States

Power & Composite Technologies designs, manufactures, and sells highly-engineered composite components for use in utility-scale electrical generators as well as custom composite structures for use in medical, technology aerospace and defense applications. Power & Composite Technologies was founded in 1994 and is based in Amsterdam, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-08 SouthernAG Carriers

Albany, Georgia, United States

SouthernAG Carriers is a transportation and logistics service provider for agricultural and related processed food manufacturers. SouthernAG Carriers is based in Albany, Georgia.

Sell -
SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $3 to $20 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 41 of 46
Sector (Semiconductors) 2 of 2
Type (Secondary Buyout) 5 of 6
State (California) 4 of 4
Country (United States) 41 of 46
Year (2021) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-08 Quality Harvest Foods

Portland, Oregon, United States

Quality Harvest Foods is a developer and contract manufacturer of frozen, filled baked snacks and handheld meals sticks, bites, pull-aparts, and calzones in a variety of dough flavors, product shapes, fillings (including cheese and fruit), and topicals. The company’s products, sold by branded food manufacturers through foodservice and retail grocery channels, are available in individual oven/microwave safe wrappers, multipacks, resealable pouches, and bulk packaging formats. Quality Harvest Foods was formed in 1964 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-15 Red River Waste Solutions

Dripping Springs, Texas, United States

Red River Waste Solutions is a solid waste management and recycling company specializing in residential and commercial solid waste collection, hauling, and landfill management. Red River Waste Solutions was founded in 1988 and is based in Dripping Springs, Texas.

Sell -