Home » Greenwich-based Littlejohn & Co. agrees to sell portfolio company for $1.25 billion

Greenwich-based Littlejohn & Co. agrees to sell portfolio company for $1.25 billion

by Marjorie

GREENWICH — Littlejohn & Co., a Cos Cob-based non-public fairness agency, introduced this week that an affiliate had agreed to promote HydroChemPSC for $1.25 billion, in one among its largest-ever transactions.

Norwell, Mass.-based Clear Harbors, a specialist in environmental, vitality and industrial companies, would be the purchaser of HydroChemPSC, a supplier of business cleansing, specialty upkeep and utilities companies that’s primarily based in Deer Park, Texas.

The sale is predicted to shut later this 12 months.

The creation of HydroChemPSC was facilitated by Littlejohn’s acquisition in 2014 of PSC and the 2017 merger of that agency with HydroChem. Often known as HPC, HydroChemPSC now has greater than 240 service areas throughout america.


“HydroChemPSC is emblematic of Littlejohn’s method to constructing nice companies,” Michael Kaplan, a managing director at Littlejohn, mentioned in a press release. “We’re extremely pleased with our partnership with HPC and of what we completed by collaborating with the corporate’s distinctive administration staff, to put money into natural progress and expertise and execute strategic M&A. The HPC staff’s dedication to integrity, sustainability and security have been the inspiration for excellent buyer relationships for the previous three a long time, and we want them continued success as a part of Clear Harbors.”

Amongst different modifications underneath Littlejohn’s possession, the agency cited HydroChemPSC’s enlargement of its engineered-services unit, the creation of a brand new specialty mechanical service providing, the event of an information analytics platform and expertise investments to enhance employee security and productiveness and repair supply.

“HPC’s success over our possession interval is a testomony to the distinctive management offered by CEO Brad Clark, CFO Judy Shields and the dedication of the practically 5,000 associates who ship world class service to HPC’s prospects day-after-day,” Brian Michaud, one other of the managing administrators at Littlejohn, mentioned in a press release.

With about $14 billion in belongings underneath administration, Littlejohn focuses on non-public fairness and debt investments which can be primarily in middle-market corporations.

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