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Lindsay Goldberg Completes Sale of Pixelle Specialty Solutions

NEW YORK–(BUSINESS WIRE)–Lindsay Goldberg, a leading private investment firm that focuses on partnering with families, founders, and management teams seeking to actively build their businesses, today announced it has successfully completed the sale of Pixelle Specialty Solutions Holding LLC (“Pixelle” or the “Company”), a leading provider of fiber-based specialty solutions in North America. Terms of the transaction were not disclosed.

Lindsay Goldberg formed Pixelle in 2018 upon carving out the specialty papers business of P.H. Glatfelter (NYSE: GLT). In partnership with Pixelle’s Chief Executive Officer, Timothy Hess – who had been with Glatfelter for over 20 years – and with the strategic support of Lindsay Goldberg affiliate partners, Lindsay Goldberg helped build the Company into an industry leading specialty papers platform and supported three follow-on acquisitions, including the carveout of the specialty papers business of Verso Corporation.

Timothy Hess, Pixelle’s Chief Executive Officer, commented, “Together with Lindsay Goldberg, Pixelle has developed a broad, innovative portfolio of industry leading brands across the specialty papers and sustainable packaging markets. In under four years, we have transformed Pixelle into the leading specialty-focused paper producer in North America through three strategic acquisitions and successful implementation of a continuous improvement program. We thank Lindsay Goldberg for their partnership and look forward to our next chapter.”

Russell Triedman, Managing Partner at Lindsay Goldberg, said, “Lindsay Goldberg’s successful partnership with Tim and the Pixelle management team is reflective of our collaborative approach, ability to execute complex carveouts, and the strong outcomes we seek to drive for our investors. Under Lindsay Goldberg’s ownership, Pixelle’s management executed on a strategic plan to position the business as a true market leader and partner of choice to its customers, while simultaneously advancing its ESG initiatives.”

We are fortunate to have partnered with the outstanding management team and dedicated employees at Pixelle,” added Vince Ley, Partner at Lindsay Goldberg. “Pixelle is poised for continued growth and we wish them continued success.”

Credit Suisse and Houlihan Lokey served as financial advisors and Cravath, Swaine & Moore LLP served as legal counsel to Pixelle.

About Lindsay Goldberg

Lindsay Goldberg is a private investment firm that focuses on partnering with families, founders and management teams seeking to actively build their businesses. Since 2001, Lindsay Goldberg has raised more than $17 billion of equity capital and has invested in over 50 platform companies and over 250 follow-on opportunities. The firm focuses on a diverse set of industries that have demonstrated resilience across economic cycles, including industrials, business, government and financial services, and healthcare in North America and Western Europe. Lindsay Goldberg takes a relationship driven approach and is supported by its global network of affiliate partners. For more information about Lindsay Goldberg, please visit


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(212) 257-4170


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