After more than three years of strategic development and expansion, the private equity firm Littlejohn has announced its intent to sell The Hiller Companies, a specialist in fire and life safety services, to Wind Point Partners. This transition marks the culmination of a significant growth phase initiated following Littlejohn’s acquisition of Hiller in September 2022.
Littlejohn, headquartered in Greenwich, Connecticut, disclosed in a press statement that it has reached an agreement to divest Hiller, although the financial terms of the transaction have not been made public. The transaction is currently subject to the usual regulatory approvals and closing procedures necessary for such deals.
Thehold period saw Hiller undergo notable transformation and expansion. Under the private equity firm’s ownership, the company embarked on a strategy described by both sides as "transformational," targeting enhanced geographic reach and service capabilities. As a result, Hiller widened its operational footprint to serve a more diverse set of markets, aligning with the firm’s vision of accelerated growth.
Throughout this phase, Hiller also expanded its leadership team to support the company’s evolving goals and complex operations. An important facet of this growth was a strategic enhancement of recurring service revenue, indicating a shift towards more stable and predictable income streams.
Additionally, Hiller executed a robust acquisition strategy, completing over 20 acquisitions during the three-year period. This acquisitive approach allowed the company to integrate complementary businesses, expand its service offering, and strengthen its market position.
Santiago Perez, Hiller’s Chief Executive Officer, commended Littlejohn for their partnership, emphasizing the firm’s considerable investments in personnel and operational systems. Perez highlighted the balance maintained between these investments and preserving Hiller’s core culture and customer-centric focus. The CEO expressed confidence that the company now possesses a solid foundation from which to pursue its next stage of development.
Brian Michaud, managing director at Littlejohn, characterized Hiller as exemplary of the firm’s investment philosophy, which centers on supporting companies in key sectors while collaborating closely with their management teams to accelerate value creation. Michaud’s remarks framed the Hiller investment as a case study in driving growth through strategic support and operational enhancement.
Professional advisory and legal support for Littlejohn in the transaction came from financial advisers Baird and Harris Williams, alongside legal counsel from Gibson, Dunn & Crutcher. These advisors are assisting with the complexities typically involved in the sale of middle-market industrial and services companies.
Littlejohn manages approximately $8.7 billion in assets, focusing its investment activities on private equity and debt in growth-oriented middle-market firms across industrial and services industries. The firm’s strategy emphasizes partnering with robust businesses capable of benefiting from targeted capital and operational assistance.
As the sale proceeds toward completion, there remain conditions related to regulatory approvals and other closing matters typical in private equity deals. While detailed financial terms remain confidential, the transaction illustrates a case where an investment firm has successfully developed a portfolio company through operational improvement and strategic growth before exiting the investment.