Michael Kaplan

Founded in 1996, Littlejohn & Co. is a control oriented private equity firm that makes investments in mid-sized companies undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is based in Greenwich and manages three funds with committed capital of approximately $2.4 billion. The firm is currently investing the $1.3 billion Littlejohn Fund IV. As of June 30, 2010 Littlejohn and its predecessor funds have made equity investments of approximately $1.7 billion in 32 platform portfolio companies and many add-on acquisitions. Cash proceeds of more than $2.7 billion have been realized on approximately $1.0 billion of the equity investments realized to date. Littlejohn implements two investment strategies. For control investments, it seeks to invest between $50 million to $100 million of equity per transaction. For non-control positions, the firm will take minority equity positions as well as purchase debt and other junior securities in the secondary markets. Due to the intensive hands-on nature of its investment approach in control investment, Littlejohn generally undertakes no more than two or three transactions per year. At any one time, the control portfolio will typically consist of five to ten companies. The firm has particular interest in industries in which the principals have considerable experience, including industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. Littlejohn avoids investments in fashion and retail industries, as well as real estate and highly sophisticated technologies. The firm targets mid-sized companies with revenues in the range of $150 million to $800 million. Generally, the firm focuses on investments in the U.S., but will consider opportunities in Canada and Europe.