M&A Deal Summary

Littlejohn Acquires Lipari Foods

On October 31, 2022, private equity firm Littlejohn acquired distribution company Lipari Foods from H.I.G. Private Equity

Acquisition Highlights
  • This is Littlejohn’s 6th transaction in the Distribution sector.
  • This is Littlejohn’s 58th transaction in the United States.
  • This is Littlejohn’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2022-10-31
Target Lipari Foods
Sector Distribution
Buyer(s) Littlejohn
Sellers(s) H.I.G. Private Equity
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co.
Harris Williams & Co. (Financial)
McDermott Will & Emery (Legal)

Target

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.

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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 62 of 64
Sector (Distribution) 6 of 6
Type (Secondary Buyout) 27 of 29
State (Michigan) 2 of 2
Country (United States) 58 of 60
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-20 The Hiller Companies

Mobile, Alabama, United States

The Hiller Companies offers fire protection and life safety products and services that are preserving lives and property all around the world. The Hiller Companies is headquartered in Mobile, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 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.

Buy -

Seller(S) 1

SELLER

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 150 of 175
Sector (Distribution) 7 of 8
Type (Secondary Buyout) 59 of 71
State (Michigan) 3 of 3
Country (United States) 107 of 120
Year (2022) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-18 Hiventy

Boulogne-Billancourt, France

Hiventy offers its customers recognized technical expertise in the areas of image, sound post-production, digital restoration, dubbing, sub-titling, broadcast and video and digital delivery. Hiventy is based in Boulogne-Billancourt, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Taconic Biosciences

Germantown, New York, United States

Taconic Biosciences is a provider of genetically engineered models and service solutions used in life sciences research. Taconic provides murine solutions so that customers can acquire, custom generate, breed, precondition, test, and distribute valuable research models worldwide. Taconic Biosciences was founded in 1952 and is based in Germantown, New York.

Sell -
Mergr

Product

Company

Legal