M&A Deal Summary

TJC Acquires Lindsay Precast

On November 3, 2025, private equity firm TJC acquired construction company Lindsay Precast from MiddleGround Capital

Acquisition Highlights
  • This is TJC’s 1st transaction in the Construction sector.
  • This is TJC’s 92nd transaction in the United States.
  • This is TJC’s 7th transaction in Ohio.

M&A Deal Summary

Date 2025-11-03
Target Lindsay Precast
Sector Construction
Buyer(s) TJC
Sellers(s) MiddleGround Capital
Deal Type Secondary Buyout
Advisor(s) Harris Williams
Raymond James - Investment Banking (Financial)
Eversheds Sutherland (Legal)

Target

Lindsay Precast

Canal Fulton, Ohio, United States
Lindsay Precast is a designer and manufacturer of engineered precast concrete structures for water/wastewater, utility, solar, transportation, and government end markets. Lindsay Precast produces sanitary and storm sewer products, electrical and telecom utility products, solar inverter skids and ballast bases, box culverts and bridge products, and various other products, for its diverse customer base that includes state and municipal government entities, utility companies, renewable energy companies, and the federal government. Lindsay Precast is based in Canal Fulton, Ohio.

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Buyer(S) 1

Buyer

TJC

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.


DEAL STATS #
Overall 96 of 96
Sector: Construction M&A 1 of 1
Type: Secondary Buyout M&A Deals 36 of 36
State: Ohio M&A 7 of 7
Country: United States M&A 92 of 92
Year: 2025 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-01 Switchback

Brooklyn Park, Minnesota, United States

Switchback is a specialized design, development, and manufacturing partner to medical device companies, focused on highly precise catheters, delivery systems, and components for innovative, minimally invasive medical devices. Switchback was founded in 2018 and is based in Brooklyn Park, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-11 Potters

Malvern, Pennsylvania, United States

Potters is a global manufacturer of engineered glass materials to government agencies, highway and road maintenance contractors, as well as automotive, construction, mining, personal care, medical, and other industrial end markets. It produces highway safety marking glass beads, which add reflectivity to road markings to make them more visible to drivers and comply with government-mandated safety regulations. Potters was founded in 1914 and is based in Malvern, Pennsylvania.

Sell -

Seller(S) 1

SELLER

MiddleGround Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2018
PE ASSETS 3.7B USD
Size Large
Type Sector Focused
DESCRIPTION

MiddleGround Capital is a middle-market private equity firm focused on acquiring North American companies valued up to $500 million. MiddleGround looks to commit $20 to $350 million per transaction and generally pursues investments in fundamentally good businesses that align with its operational expertise. Areas of interest include B2B industrial and specialty distribution. MiddleGround Capital was formed in 2018 and has offices in Lexington, Kentucky and Amsterdam, Netherlands.


DEAL STATS #
Overall 3 of 3
Sector: Construction M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-08 Zoerkler

Jois, Austria

Zoerkler is a manufacturing company specializing in high-performance drive systems for the aerospace, automotive, and industrial sectors. Zoerkler is headquartered in Jois, Austria.

Buy -