Firm: Littlejohn & Co.
Fund: Littlejohn Fund IV LP
Amount Raised: $800 million
Target: $1.25 billion; hard cap $1.35 billion
Placement Agent: Park Hill Group
The Greenwich, Conn.-based turnaround shop has raised about $800 million so far for
Littlejohn & Co. gathered $850 million in 2006 for its predecessor fund. The firm invests in companies generating revenues between $150 million and $800 million. For control investments, the firm writes equity checks of $50 million to $100 million per deal. On average, Littlejohn & Co. does three or four transactions per year. Areas of interest include industrial equipment, packaging, chemicals, automotive, transportation parts and equipment, food and food processing, electronics and electrical products, health care, plastics, aerospace, defense, distribution, environmental and infrastructure services, and consumer products. The firm typically invests in the United States, but it will also consider deals in Canada and Europe.
Portfolio companies include Synchronous Aerospace Group, a maker of aircraft parts; CoActive Technologies, which makes electromechanical switches; Van Houtte, a coffee roaster and distributor; Clean Earth, a processor of contaminated soil; and Penda Corp., which makes automotive exterior trim and accessories.