M&A Deal Summary

H.I.G. Private Equity Acquires Pixelle Specialty Solutions

On April 4, 2022, private equity firm H.I.G. Private Equity acquired forest products company Pixelle Specialty Solutions from Lindsay Goldberg

Acquisition Highlights
  • This is H.I.G. Private Equity’s 5th transaction in the Forest Products sector.
  • This is H.I.G. Private Equity’s 209th transaction in the United States.
  • This is H.I.G. Private Equity’s 5th transaction in Pennsylvania.

M&A Deal Summary
Date 2022-04-04
Target Pixelle Specialty Solutions
Sector Forest Products
Buyer(s) H.I.G. Private Equity
Sellers(s) Lindsay Goldberg
Deal Type Secondary Buyout
Advisor(s) Credit Suisse Investment Banking
Houlihan Lokey (Financial)
Cravath, Swaine & Moore (Legal)

Target

Pixelle Specialty Solutions

Spring Grove, Pennsylvania, United States
Pixelle Specialty Solutions is a provider of specialty papers and engineered materials, offering innovation, world-class service and over a century and a half of technical expertise. Pixelle Specialty Solutions was founded in 2018 and is based in Spring Grove, Pennsylvania.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 316 of 369
Sector (Forest Products) 5 of 5
Type (Secondary Buyout) 48 of 68
State (Pennsylvania) 5 of 5
Country (United States) 209 of 245
Year (2022) 8 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-21 Lovett Care

Staffordshire, United Kingdom

Lovett Care owns and operates a portfolio of eight care homes with a total capacity exceeding 500 beds. Lovett Care offers a variety of care options, including residential care, dementia care, daycare, palliative care, nursing care, and respite care in Staffordshire, Cheshire, and the North West. Lovett Care is based in Staffordshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-05 myKaarma

Long Beach, California, United States

myKaarma is a rapidly growing, end-to-end SaaS platform for franchise automotive dealership service lanes. myKaarma’s unified solution includes an integrated suite of scheduling, interaction, communication, and payment tools that encompass the entire repair process, thereby driving efficiencies for dealer service lanes as well as improved experiences for vehicle owners. myKaarma was founded in 2012 and is based in Long Beach California.

Buy -

Seller(S) 1

SELLER

Lindsay Goldberg

New York, New York, United States

Investor Investor Investor Investor Investor

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 39 of 40
Sector (Forest Products) 2 of 3
Type (Secondary Buyout) 17 of 18
State (Pennsylvania) 2 of 2
Country (United States) 30 of 31
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-03 Paccor

Dusseldorf, Germany

Paccor is a European manufacturer of high performance rigid packaging solutions with a strong position in the dairy market and a strong presence in other end-markets, including convenience foods, fresh and processed foods, and personal and homecare. Paccor was founded in 2011 and is based in Dusseldorf, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-28 MMS

Canton, Michigan, United States

MMS is a data-focused clinical research organization that supports biotech and pharmaceutical customers with differentiated biostatistics, medical writing and data management services enabled by MMS’ proprietary technology. MMS was founded in 2006 and is based in Canton, Michigan.

Buy -
Mergr

Product

Company

Legal