Littlejohn & Co.

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Littlejohn & Co.
Private Ownership
Industry Private Equity
Founded 1987; 30 years ago (1987)
Founder Angus C. Littlejohn Jr.
Michael I. Klein
Headquarters Greenwich, Connecticut, United States
Products Private equity funds, Leveraged buyouts, Distressed securities
Total assets $4.9 billion[1]
Website www.littlejohnllc.com

Littlejohn & Co. is a private equity firm focused on leveraged buyout transactions, leveraged recapitalizations of middle-market companies and distressed securities. The firm focuses on companies requiring an operational turnaround particularly in a variety of industrial and service sectors.

The firm is based in Greenwich, Connecticut and was founded in 1996 by Angus C. Littlejohn Jr.

History[edit]

In 1996, Angus Littlejohn resigned from Joseph Littlejohn & Levy (today known as JLL Partners) to form a new private investment firm with Michael Klein, Littlejohn & Co. JLL underwent significant turnover as the following year co-founder Peter Joseph also left the firm.[2]

Littlejohn traces its roots back to Gilliam Joseph & Littlejohn, a merchant bank founded in 1987 by Angus C. Littlejohn Jr., along with William J. Gilliam and Peter A. Joseph. Littlejohn had previously worked with his two co-founders the Quadrex Corporation, a small New York brokerage firm. In 1988, Paul S. Levy, formerly a managing director, at Drexel Burnham Lambert, focusing on corporate restructurings and exchange offers was recruited to join the firm, which was renamed Gilliam Joseph Littlejohn & Levy and later Joseph Littlejohn & Levy, when Gilliam was forced to leave the partnership in 1989.[3]

In July 2014, Littlejohn & Co held a final close for its fifth fund on its hard cap of $2 billion.[4]

Funds raised[edit]

Since its founding, Littlejohn has raised five main private equity funds, as well as an annex fund and a distressed securities fund, with investor commitments totaling $4.9 billion:

  • 1997 — Littlejohn Fund I ($200 million)
  • 1999 — Littlejohn Fund II ($530 million)
  • 2005 — Littlejohn Fund III ($650 million)
  • 2007 — Littlejohn Fund III add-on ($200 million)
  • 2010 — Littlejohn Fund IV ($1.34 billion)
  • 2014 — Littlejohn Fund V ($2.0 billion)

Portfolio companies[edit]

The following is a selected list of notable companies in which Littlejohn has invested:

References[edit]

  1. ^ Funds raised since inception, including annex funds and distressed debt fund raised in 2007
  2. ^ "Stocks". Bloomberg.com. Retrieved 23 September 2016. 
  3. ^ Alison Leigh Cowan (January 22, 1989). "Divorce, Wall Street Style". New York Times. 
  4. ^ "Exclusive: Littlejohn closes Fund V on $2 bln hard cap - PE Hub". www.pehub.com. 9 July 2014. Retrieved 23 September 2016. 
  5. ^ DURAKON, MAKER OF TRUCK-BED LINERS, TO BE ACQUIRED, June 19, 1999
  6. ^ Littlejohn to Buy Intertape Polymer, May 2, 2007.
  7. ^ PSC Reaches Restructuring Agreement With Littlejohn & Co., LLC; Affiliates of Littlejohn Acquire all Outstanding Debt. Business Wire, Nov 22, 2002
  8. ^ Private equity firm buying Van Houtte: Connecticut-based Littlejohn & Co. plans privatization, By LuAnn LaSalle of Canadian Press, The Toronto Star, May 8, 2007, retrieved on May 23, 2007
  9. ^ "Littlejohn & Co. Portfolio Company Wyle Announces Acquisition of RS Information Systems." Reuters, Jan 18, 2008

External links[edit]