Eversheds Sutherland Advises on Sale of Lindsay Precast by MiddleGround Capital to TJC

Eversheds Sutherland advised MiddleGround Capital on the closing of the sale of its portfolio company Lindsay Precast to TJC, LP (formerly The Jordan Company). The transaction marks the conclusion of MiddleGround’s investment plan to strengthen Lindsay’s vertically integrated platform and position the business to meet accelerating demand across water, utility, data center, renewable energy and other infrastructure markets. During MiddleGround’s ownership, Lindsay invested in facility upgrades, expanded its geographic footprint and implemented centralized systems to improve consistency and efficiency across the organisation. The Company also broadened its capabilities with the 2022 acquisition of Dutchland Incorporated, significantly enhancing its offerings in the water and wastewater sectors. Headquartered in Gainesville, Florida, Lindsay Precast is a leading manufacturer of prefabricated concrete and steel products serving state and municipal government entities, utilities, renewable energy companies, diversified commercial businesses and the military. Founded 60 years ago, the Company supports the modernization and expansion of water management, utility, data center, transportation and energy systems across the United States. MiddleGround acquired Lindsay Precast in November 2021 through its second fund, MiddleGround Partners II, which closed in May 2021 with $800 million of committed capital. The sale of Lindsay Precast represents MiddleGround’s fourth exit since its establishment in 2018 and the first exit from MiddleGround Partners II, LP. Eversheds Sutherland represented MiddleGround Capital with a team composed by: Corporate Partners Stacey Kern and Aaron Moody, Corporate Partner Josh Shapiro, Tax Partner Laura Taylor, Corporate Senior Associate Evan Johnson, Tax Senior Associate Lucas Habeeb and Corporate Associates Haley Klass, Heidi Smucker, Hani Majeed and Olivia Luzzio.

Eversheds Sutherland Advises on Sale of Lindsay Precast by MiddleGround Capital to TJC

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