Mergers & Acquisitions

Lindsay Precast Acquired by TJC

6561 Lindsay Precast NT

M&A Engagement Overview

Industry Groups: Industrials; Energy, Power & Infrastructure
Areas of Focus: Building Products and Materials, Construction Materials and Infrastructure, Engineering and Construction

Harris Williams advised Lindsay Precast, a portfolio company of MiddleGround Capital, on their sale to TJC.

Investor interest in the construction materials and infrastructure solutions sectors remains strong, driven by powerful, non-discretionary demand tailwinds that are insulated from broader economic cycles. The critical need to modernize the nation's aging infrastructure, coupled with historic federal funding and the ongoing energy transition, has created a period of unprecedented and highly visible demand. In this environment, market-leading platforms like Lindsay Precast—which provide essential, highly-engineered solutions—are viewed by buyers as premium assets. These companies represent a unique opportunity to invest in durable, long-term growth, and we continue to see significant M&A activity for best-in-class operators.

Headquartered in Gainesville, Florida, Lindsay Precast is one of the leading manufacturers of prefabricated concrete and steel products serving the critical infrastructure needs of state and municipal government entities, utilities, renewable energy companies, diversified commercial businesses, and the military. For more than 60 years, the company has supported the construction and modernization of water management, utility, data center, transportation, and energy systems across the United States.

Lindsay is one of the leading U.S. manufacturers of precast concrete solutions and related products. The company delivers custom-engineered infrastructure precast components—including utility vaults, box culverts, and manholes—along with specialty tanks for wastewater applications and integrated steel platform systems. Uniquely positioned within a $16 billion U.S. market, Lindsay serves high-growth sectors benefiting from major public funding initiatives, infrastructure renewal, water, utility, data center, and energy transition tailwinds.

Lindsay operates an integrated network of 10 U.S.-based production facilities, giving it full control over design, steel fabrication, concrete casting, and delivery. This integration enhances quality and responsiveness while minimizing supply chain risk, a distinct advantage amid the current onshoring environment and ongoing trade and tariff volatility. Through this model, Lindsay provides highly engineered products to public and private sector customers supporting resilient, sustainable infrastructure.

The partnership with TJC provides Lindsay with a committed partner to accelerate their growth trajectory, while delivering a critical and successful exit for MiddleGround Capital that crystallizes the significant value created during their ownership.

Contact the Harris Williams Energy, Power & Infrastructure Group and Industrials Group to learn more about this client engagement.