Lindsay Goldberg

Lindsay Goldberg
Name	Lindsay Goldberg
Type	Private equity firm
Founded	1999
Founders	Robert Lindsay, Ted Goldberg
Headquarters	New York City, New York, United States
Industry	Private equity, Investment management
Products	Leveraged buyouts, Growth capital, Corporate partnerships
Assets	approx. $20 billion (2020s)

Lindsay Goldberg is a private equity firm based in New York City focused on leveraged buyouts, growth capital and operational partnerships with middle-market companies. The firm was founded by two former executives with investment and operating backgrounds and has raised multiple institutional funds from pension plans, endowments and sovereign investors. Its activities span manufacturing, services, distribution and business-to-business sectors across North America and Europe.

Overview

The firm operates as a private equity sponsor engaging with institutional investors such as CalPERS, Teacher Retirement System of Texas, Ontario Teachers' Pension Plan, Canada Pension Plan Investment Board, and Abu Dhabi Investment Authority while working alongside portfolio companies including industrials like Arcline Investment Management-era peers, distributors formerly held by Apollo Global Management and The Carlyle Group. Its strategy emphasizes partnerships with family-owned businesses, divisions carved out by corporations like General Electric, and corporate spinouts from entities such as Siemens and Honeywell. The firm has raised successor funds tracked by industry indexes including the PitchBook and Preqin databases and competes with firms such as KKR, Blackstone Group, Bain Capital, and TPG Capital for middle-market transactions.

History and Founding

Founded in 1999 by Robert Lindsay and Ted Goldberg after prior senior roles at private equity and investment firms, the firm emerged during a wave of buyout activity led by groups including KKR and Bain Capital. Early capital came from limited partners common to the late-1990s private equity fundraising environment, including public pension funds like New York State Common Retirement Fund and corporate treasuries. In the 2000s the firm expanded its team and opened satellite offices while navigating industry cycles shaped by events such as the Dot-com bubble aftermath and the 2008 financial crisis. Over time it evolved governance and compliance practices in response to regulatory frameworks from agencies like the Securities and Exchange Commission and reporting standards influenced by Financial Accounting Standards Board pronouncements.

Investment Strategy and Portfolio

The firm targets middle-market control investments and structured minority partnerships across sectors such as industrial manufacturing, specialty distribution, business services, and consumer products. It often partners with management teams from companies such as divestitures originating at Fortune 500 firms like General Electric, United Technologies Corporation, 3M Company, and Johnson & Johnson. The firm employs operational improvement playbooks drawing on operating partners with backgrounds at companies like Danaher Corporation, Emerson Electric, and Honeywell International. Its capital formation has included commitments from sovereign wealth funds like Government of Singapore Investment Corporation and endowments such as Harvard Management Company-style investors. The portfolio has included companies that later merged with buyers like CVC Capital Partners and Warburg Pincus or executed exits via sales to strategic buyers including Siemens and ABB or public listings on exchanges such as the New York Stock Exchange.

Leadership and Organizational Structure

Executive leadership has historically included founding partners with prior senior roles at private equity and industry operating companies. The firm is structured with investment teams organized into sector-focused groups, supported by professionals in legal, compliance, investor relations and operations who have worked at firms including Goldman Sachs, Morgan Stanley, J.P. Morgan Chase, and Credit Suisse. Governance includes a board of directors and investment committees with independent advisors drawn from former executives of corporations such as Procter & Gamble, Caterpillar Inc., and Pfizer. The firm maintains relationships with placement agents, custodians and administrators like State Street Corporation and BNY Mellon for fund administration and works with law firms experienced in private equity transactions including partnerships with firms comparable to Skadden, Arps, Slate, Meagher & Flom and Sullivan & Cromwell.

Notable Transactions and Acquisitions

The firm has completed transactions involving corporate carve-outs, family business buyouts and platform-building rollups, competing in deal processes involving peers such as Apollo Global Management, Hellman & Friedman, and Silver Lake Partners. Notable portfolio actions have included acquisitions from conglomerates like Emerson Electric, operational turnarounds of manufacturers akin to Stanley Black & Decker divisions, and consolidation plays in specialty distribution reminiscent of deals by Graham Partners and Sun Capital Partners. Exits have occurred via sales to strategic acquirers including Eaton Corporation and Caterpillar as well as through secondary buyouts to funds managed by The Blackstone Group and Advent International.

Controversies and Legal Issues

Like many private equity firms, the firm has faced scrutiny related to transaction terms, employment impacts, and contractual disputes with portfolio company stakeholders; comparable industry disputes have involved litigation in courts such as the Delaware Court of Chancery and arbitration before panels convened under rules from the American Arbitration Association. Regulatory and public policy attention to private equity practices from lawmakers in bodies like the United States Congress and commentators at media outlets such as The Wall Street Journal and The New York Times has influenced firm disclosures and limited partner reporting. In certain transactions, creditors, minority investors or former management teams have pursued claims similar to cases heard in federal courts like the United States District Court for the Southern District of New York.

Category:Private equity firms Category:Financial services companies established in 1999