M&A Deal Summary

Lindsay Goldberg Acquires Pixelle Specialty Solutions

On October 31, 2018, private equity firm Lindsay Goldberg acquired forest products company Pixelle Specialty Solutions from Glatfelter for 360M USD

Acquisition Highlights
  • This is Lindsay Goldberg’s 3rd transaction in the Forest Products sector.
  • This is Lindsay Goldberg’s 3rd largest (disclosed) transaction.
  • This is Lindsay Goldberg’s 32nd transaction in the United States.
  • This is Lindsay Goldberg’s 2nd transaction in Pennsylvania.
Investment Fate
  • Pixelle Specialty Solutions was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2018-10-31
Target Pixelle Specialty Solutions
Sector Forest Products
Buyer(s) Lindsay Goldberg
Sellers(s) Glatfelter
Deal Type Divestiture
Deal Value 360M USD

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

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 42 of 57
Sector (Forest Products) 3 of 3
Type (Divestiture) 6 of 8
State (Pennsylvania) 2 of 2
Country (United States) 32 of 46
Year (2018) 3 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 Dealer Tire

Cleveland, Ohio, United States

Dealer Tire is a value-added distributor that equips and assists automobile dealers in the sale of replacement tires and other automotive parts to end consumers. It serves more than 10,000 automotive dealerships from nearly 40 distribution centers. Dealer Tire was founded in 1999 and is based in Cleveland, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-14 stayAPT Suites

Matthews, North Carolina, United States

stayAPT Suites is an owner, operator and franchisor of extended stay hotels located primarily in the Southeastern United States with hotels that offer fully furnished apartment-style suites that target long-term, economy-minded travelers. stayAPT Suites is based in Matthews, North Carolina.

Buy -

Seller(S) 1

SELLER

Glatfelter

Charlotte, North Carolina, United States

Category Company
Founded 1864
Sector Forest Products
Employees2,916
Revenue 1.4B USD (2023)
DESCRIPTION

Glatfelter is a provider of specialty papers and fiber-based engineered materials. Glatfelter was founded in 1864 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 1 of 1
Sector (Forest Products) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-19 Georgia-Pacific Steinfurt

Steinfurt, Germany

Georgia-Pacific Steinfurt GmbH is a producer of an airlaid nonwoven material for commercial customers used to make table top, wiping, food pads, hygiene and related products. Georgia-Pacific Steinfurt is based in Steinfurt, Germany.

Buy $185M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 Georgia-Pacific - Nonwovens Business

Mt. Holly, North Carolina, United States

Georgia-Pacific's Nonwovens Business comprises an air-laid manufacturing business and an R&D pilot line for nonwovens product development in Memphis, Tennessee, which collectively employ approximately 150 people. The Mount Holly facility has a capacity of 37,000 metric tons and produces high-quality airlaid products focused on wipes and tabletop materials. The R&D pilot line and additional technical resources will enhance ongoing innovation efforts.

Buy $175M