M&A Deal Summary

Littlejohn Acquires Ardurra

On February 1, 2023, private equity firm Littlejohn acquired engineering company Ardurra from Round Table Capital Management and Pine Street Capital Partners

Acquisition Highlights
  • This is Littlejohn’s 2nd transaction in the Engineering sector.
  • This is Littlejohn’s 59th transaction in the United States.
  • This is Littlejohn’s 2nd transaction in Florida.

M&A Deal Summary
Date 2023-02-01
Target Ardurra
Sector Engineering
Buyer(s) Littlejohn
Sellers(s) Round Table Capital Management
Pine Street Capital Partners
Deal Type Secondary Buyout

Target

Ardurra

Tampa, Florida, United States
Ardurra provides highly complex engineering and design services for water, transportation, and aviation end-markets across the Southeast, Central, Southwest, and Northwest United States. The company's services make a positive impact on the country’s most critical pieces of infrastructure, providing innovative, technology driven solutions to municipalities, state government entities, utilities and businesses. Its work enables local communities to provide residents clean water, implement transit and transportation solutions, treat wastewater, and develop sustainable, resilient infrastructure, among many other solutions. Ardurra Group is based in Tampa, Florida.

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Buyer(S) 1

Buyer

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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.

DEAL STATS #
Overall 63 of 64
Sector (Engineering) 2 of 2
Type (Secondary Buyout) 28 of 29
State (Florida) 2 of 2
Country (United States) 59 of 60
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-31 Lipari Foods

Warren, Michigan, United States

Lipari Foods is a distributor of perimeter-of-the-store, specialty, and branded food products, serving over 6,300 customers throughout the Midwest and beyond. The Company’s products span the deli, bakery, dairy, specialty retail, seafood, packaging, confections, ethnic, and organic categories, providing customers with the broadest selection of largely perishable on-trend, perimeter-of-the-store, and specialty products. Lipari Foods was founded in 1963 and is based in Warren, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-29 Cook & Boardman

Winston-Salem, North Carolina, United States

Cook & Boardman offers a broad range of products including metal and wood doors, locks, doorframes, and other related building components for non-residential applications. The Company operates a network of thirty-five locations across eleven states and services its customers nationwide. Cook & Boardman was founded in 1955 and is based in Winston-Salem, North Carolina.

Sell -

Seller(S) 2

SELLER

Round Table Capital Management

Investor Investor

Category Growth Capital Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

RTC Partners is a growth-focused private equity firm focused on lower-middle market companies. The Firm looks to invest between $1 to $15 million. Prospective transaction types include management buyouts and growth financings. Sectors of interest include business services, digital media, engineering, IT, internet software and services, marketing, and media. RTC Partners was formed in 2017 and is based in New York City.

DEAL STATS #
Overall 3 of 4
Sector (Engineering) 2 of 3
Type (Secondary Buyout) 1 of 2
State (Florida) 1 of 1
Country (United States) 3 of 4
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Anser Advisory

Cypress, California, United States

Anser Advisory is a national firm specializing in capital program funding, program management, project management, construction management, and executive advisory services. The firm provides program advisory services to clients across the country in industries that include transportation, higher education, K-12 education, industrial, federal, state, and local government, healthcare, hospitality, and housing. Anser Advisory is based in Santa Ana CA, Boston MA, Orlando FL, San Francisco CA, Atlanta GA, and now Clinton, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-13 fama PR

Boston, Massachusetts, United States

fama PR is a boutique PR firm for technology companies. fama PR was founded in 2002 and is based in Boston, Massachusetts.

Buy -
SELLER

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners (PSCP) provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.

DEAL STATS #
Overall 13 of 16
Sector (Engineering) 1 of 2
Type (Secondary Buyout) 4 of 6
State (Florida) 2 of 2
Country (United States) 13 of 16
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-07 Artifact Uprising

Denver, Colorado, United States

Artifact Uprising is a provider of printed photo products with elevated quality, thoughtful design, and responsibly-sourced materials. Artifact Uprising was founded in 2012 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-06 Dealer Solutions & Design

Duluth, Georgia, United States

Dealer Solutions & Design is a provider of the automotive fixed operation approach to design and outfitting fixed operations facilities with shop equipment for new and renovated automobile dealerships. DSD has now been involved in over 700 facility projects. Dealer Solutions & Design was founded in 2005 and is based in Duluth, Georgia.

Sell -
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