Lindsay Goldberg (LGLLC) is an American

private equity firm A private equity firm or private equity company (often described as a financial sponsor) is an investment management company that provides financial backing and makes investments in the private equity of a Startup company, startup or of an existin ...

focused on

leveraged buyout A leveraged buyout (LBO) is the acquisition of a company using a significant proportion of borrowed money (Leverage (finance), leverage) to fund the acquisition with the remainder of the purchase price funded with private equity. The assets of t ...

and

growth capital Growth capital (also called expansion capital and growth equity) is a type of private equity investment, usually a minority interest, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets ...

investments in

middle-market companies A middle-market or mid-market company is one that is larger than a small business and smaller than a big business. Different authorities use different metrics to compare company sizes — some look at revenue, others at either asset size or number ...

in such sectors as consumer products, commodity-based manufacturing, energy services, business services, healthcare, financial services, energy transmission and waste disposal. Lindsay Goldberg specializes in partnering with family-owned businesses, offering operational and strategic guidance.

Synopsis

LGLLC, which is based in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

, was founded in 2001 by Alan Goldberg, who had previously served as chairman and CEO of Morgan Stanley Private Equity (later

Metalmark Capital Metalmark Capital, formerly Morgan Stanley, Morgan Stanley Capital Partners is a private equity firm focused on leveraged buyout investments in middle-market companies across a range of industries. Metalmark was acquired by Citigroup, Citigroup ...

) and Robert Lindsay, who played a central role in the Bessemer Trust private equity business, serving most recently as Managing General Partner since 1991
Alan Goldberg
and Robert Lindsay were founding members of Morgan Stanley's private equity business in 1984. The firm has raised approximately $17 billion since inception, across five funds. The firm raised $2 billion for its first fund in 2002. In 2006, the firm completed fundraising for its second fund with $3.1 billion of investor commitments. In 2008, Lindsay Goldberg commenced raising its third fund with a target of $4.0 billion. As of November 2015, $3.4 billion had been raised toward its fourth fund. As of July 2020, $3.4 billion had been raised toward its fifth fund.

Holdings

*Bedrock Industries, which was formed on 23 October 2015 by LGLLC, is "focused on owning and operating metals, mining and natural resources" companies and assets. It operates as a holding company and owns such properties as

Stelco Stelco Holdings Inc. (known as U.S. Steel Canada from 2007 to 2016) is a Canadian steel company based in Hamilton, Ontario. Stelco was founded in 1910 by the amalgamation of several smaller firms. It continued on for almost 100 years until it ...

in conjunction with

Fairfax Financial Fairfax Financial Holdings Limited is a Canadian financial holding company based in Toronto, Ontario, engaged in property, casualty, insurance and reinsurance, investment management, and insurance claims management. The company operates primari ...

. * Creation Technologies, a

Vancouver Vancouver is a major city in Western Canada, located in the Lower Mainland region of British Columbia. As the List of cities in British Columbia, most populous city in the province, the 2021 Canadian census recorded 662,248 people in the cit ...

-based service supplier to OEMs. The firm had as of August 2019 roughly 3,000 employees across the USMCA countries and

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

. *Bilcare Research, which produces plastic packaging used in the pharmaceutical, consumer goods and chip card manufacturing industries *MMS Holdings, data-focused clinical research organization (CRO) that supports the pharmaceutical, biotech, and medical device industries. *In recent years, Lindsay Goldberg has acquired controlling interests in companies such as Golden State Foods (a major foodservice supplier), The Kleinfelder Group (an engineering services firm), and Summit Interconnect (a leader in printed circuit board manufacturing). *In 2023, Lindsay Goldberg launched its sixth flagship fund, targeting $4 billion, continuing its focus on mid-market buyout opportunities.

Advisors

Lindsay Goldberg has developed affiliate partnerships with a number of influential individuals and businesses in order to extend their reach, both geographically and by industries. These partners include: * Tony Knowles, American politician, 7th

Governor of Alaska A governor is an administrative leader and head of a polity or political region, in some cases, such as governors-general, as the head of a state's official representative. Depending on the type of political region or polity, a ''governor'' ma ...

* Gary Edson, former advisor to the

George W. Bush George Walker Bush (born July 6, 1946) is an American politician and businessman who was the 43rd president of the United States from 2001 to 2009. A member of the Bush family and the Republican Party (United States), Republican Party, he i ...

administration * Stephen Jansen, former Vice Chairman of

Aon Corporation Aon plc () is a British-American professional services firm that offers a range of risk-mitigation products. Aon has over 66,000 employees across 120 countries. Founded in Chicago by Patrick Ryan, Aon was created in 1982 when the Ryan Insuran ...

* Patrick Moore, former CEO of

Smurfit-Stone Container Smurfit-Stone Container Corporation was a global pulp and paper industry, paperboard and paper-based packaging company based in Creve Coeur, Missouri, and Chicago, Illinois, with approximately 21,000 employees. In 2007, Smurfit-Stone was ranke ...

* Leonard Riggs, founder and former CEO of EmCare

Litigations and legal investigations

Lindsay Goldberg has been associated with legal proceedings concerning its former portfolio company, Schur Flexibles, following allegations of

financial misconduct Misconduct is wrongful, improper, or unlawful conduct motivated by premeditated or intentional purpose or by obstinate indifference to the consequences of one's acts. It is an act which is forbidden or a failure to do that which is required. Misc ...

during the period of its ownership. The firm sold an 80% stake in Schur Flexibles to the B&C Foundation for approximately 260 million euros. Subsequent internal investigations conducted by B&C suggested potential discrepancies in the company’s balance sheets prior to the transaction. In response, Austrian authorities launched a criminal investigation into former members of Schur Flexibles’ senior management, as well as Thomas Unger, a Managing Director of Lindsay Goldberg Europe, GmBH. Reports have alleged that Schur Flexibles' executives misused company funds for personal expenses, including luxury apartments and private travel, during Lindsay Goldberg's ownership. Lindsay Goldberg has stated that it was unaware of any financial irregularities at Schur Flexibles. The firm has emphasized its commitment to ethical business practices and is supportive of ongoing investigations aimed at ensuring accountability. Despite the controversies, Lindsay Goldberg has continued its private equity operations, including raising its sixth flagship fund, which is targeting $4 billion, as reported in recent sources.

References

External links

*
List of investments
Private equity firms of the United States Financial services companies established in 2001 {{US-private-equity-company-stub