Littlejohn & Co.

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.

Littlejohn & Co.
TypePrivate Ownership
IndustryPrivate Equity
Founded1987 (1987)
FounderAngus C. Littlejohn Jr.
Michael I. Klein
HeadquartersCos Cob, Connecticut, United States
ProductsPrivate equity funds, Leveraged buyouts, Distressed securities
Total assets$4.9 billion[1]
Websitewww.littlejohnllc.com

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

History

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

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 $7.8 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)
  • 2018 — Littlejohn Fund VI ($2.84 billion)

Portfolio companies

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

References
  1. Funds raised since inception, including annex funds and distressed debt fund raised in 2007
  2. "Stocks". Bloomberg.com. Archived from the original on October 31, 2014. 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
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