Firm Profile
Lincolnshire Management Inc. is a leading private equity firm focused on generating superior returns for investors by acquiring and growing middle market companies across a wide range of industries. Founded in 1986, Lincolnshire currently has approximately $1.7 billion in capital under management for private equity investments, including the $835 million Lincolnshire Equity Fund IV. The firm has a large, experienced team of investment professionals, dedicated to sourcing investment opportunities through a broad network of contacts, and consistently identifies more than 90% of the deals it closes on a proprietary basis.
Lincolnshire Management has created significant value through more than 70 acquisitions, including private equity investments in such leading middle market companies as Amports, Bankruptcy Management Solutions, Prince Sports, Riddell Sports, American Coach Lines, Transcraft Corporation, Excelsior Radio Networks, and Nursery Supplies Inc. Headquartered in New York, Lincolnshire has offices in Atlanta, Chicago and Los Angeles. Lincolnshire also has thorough deal representation in Asia and Europe, seeking value-focused opportunities wherever they may be found.
Investment Criteria
With a creative and flexible approach to transactions and the ability to work in partnership with other equity sponsors, Lincolnshire can structure investments that meet the needs of sponsors, lenders and management. Our twenty five year track record combined with $1 billion of committed capital and a broad investment charter provides Lincolnshire enormous flexibility to respond to the unique challenges facing private industry and stands ready to provide the resources for an enterprise’s financial success.
Lincolnshire is open to invest in all industries, especially niche manufacturing, distribution and service businesses. Prospects should have strong management teams, competitive advantages, diversified customers, good gross margins and growth opportunities. We look for companies with revenues in the range of $50 to $400 million and EBITDA's in the range of $10 to $40 million. Add-ons to our existing companies would have revenues in the $5 to $300 million range and EBITDA's in a range of $2 to $40 million.
Private Equity Funds
Lincolnshire Equity Fund, L.P (Lincolnshire Fund I) was organized in 1994 to make private equity investments in leveraged buyouts and recapitalizations of companies. Lincolnshire Fund I represented $120 million in capital commitments and was used to invest in fifteen portfolio companies. Lincolnshire Fund I provided enough equity to its portfolio companies to make 10 add-on acquisitions.
Prior to establishing Private Equity Fund I, Lincolnshire originated, structured and completed leveraged buyouts of seven operating companies between 1986 and 1993 in which Lincolnshire and its affiliates acquired a controlling interest.
The Lincolnshire Equity Fund II was organized in 1999 to make private equity investments, principally in leveraged buy-outs and recapitalizations of companies. Lincolnshire Fund II typically invests between $5 million and $50 million of equity in each of its portfolio companies. Lincolnshire Fund II has made investments in 16 portfolio companies.
In 2005, Lincolnshire organized Lincolnshire Equity Fund III. Lincolnshire Fund III successfully raised $433 million and has currently made investments in six portfolio companies.
In August, 2008, Lincolnshire closed its newest fund, successfully raising $835 million for the Lincolnshire Equity Fund IV.