Littlejohn & Co. Closes Continuation Vehicle Anchored by Valcourt Group

Transaction led by Carlyle AlpInvest provides liquidity to existing investors while enabling Littlejohn to continue supporting Valcourt’s next phase of growth

GREENWICH, Conn.--(BUSINESS WIRE)--Littlejohn & Co., LLC (“Littlejohn”), a private investment firm, today announced the successful closing of a continuation vehicle anchored by the Valcourt Group (“Valcourt” or the “Company”), a leading provider of building envelope maintenance and restoration services for mid- and high-rise properties. The transaction provides optional liquidity to existing fund investors while enabling Littlejohn to continue its partnership with Valcourt during the Company’s next phase of growth. Carlyle AlpInvest served as lead investor in the transaction, with further participation from a group of blue-chip institutional investors. Financial terms were not disclosed.

Since Littlejohn’s initial investment in 2021, Valcourt has grown into a scaled, national platform with a differentiated position in building maintenance services. The Company has expanded its geographic footprint, broadened its service offering, and completed more than 20 acquisitions. Today, Valcourt serves a highly diversified base of more than 16,000 properties across the United States. The Company’s service offerings include waterproofing, restoration, roofing, window cleaning and other building envelope maintenance services, providing integrated solutions to customers.

The transaction represents a significant realization for Littlejohn. As part of the transaction, Littlejohn is making a new investment alongside CV investors, acquiring certain minority shareholder interests in Valcourt and further aligning ownership and positioning the business for continued growth.

Brian Michaud, Managing Director at Littlejohn, commented, “Since partnering with Valcourt in 2021, the Company has solidified its reputation as a leading exterior building maintenance platform dedicated to safety, service quality, and disciplined execution. Our successful partnership with Valcourt reflects our commitment to collaborating closely with founders and management teams to build differentiated platforms with scale and national presence.”

Will McDavid, Managing Director at Littlejohn, added, “We are thrilled to extend our partnership with the Valcourt team alongside Carlyle AlpInvest with fresh capital to support the Company’s organic and inorganic growth strategy. Our decision to reinvest speaks to our conviction in Valcourt’s long-term opportunity and the strength of the management team.”

Eric Crabb, CEO of Valcourt, said, "Over the past several years, Valcourt has grown from a regional operator into a national platform — executing more than 20 acquisitions, expanding our service capabilities, and building a leadership team to drive continued growth. We're proud of what we have accomplished alongside Littlejohn and look forward to the next phase with both Littlejohn and Carlyle AlpInvest as partners.”

Michael Hacker, Partner at Carlyle AlpInvest, said, “This transaction reflects an important milestone in Carlyle AlpInvest’s more than 20-year relationship with Littlejohn and our shared conviction in Valcourt’s platform and long-term growth opportunity. The bespoke solution provided potential liquidity for Littlejohn investors across multiple funds while positioning Valcourt for continued expansion. We look forward to extending our partnership with Littlejohn and supporting Valcourt in its next chapter.”

Campbell Lutyens’ secondary advisory team served as lead financial advisor, and Harris Williams’ business services investment banking team served as co-advisor to Littlejohn. Kirkland & Ellis LLP served as legal counsel to Littlejohn. Troutman Pepper served as legal counsel to Valcourt. Ropes & Gray LLP served as legal counsel to Carlyle AlpInvest.

About Littlejohn & Co.:
Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments in growing middle-market industrial and services companies that can benefit from Littlejohn’s 30 years of operational and sector expertise. With approximately $9.0 billion in regulatory assets under management, the firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit www.littlejohnllc.com.

About Carlyle AlpInvest:
Carlyle AlpInvest is a leading global private equity investor with $107 billion of assets under management and more than 710 investors as of March 31, 2026. It has invested with around 390 private equity managers and committed over $118 billion across primary commitments to private equity funds, secondary transactions, portfolio financings, and co-investments. Carlyle AlpInvest employs around 300 people in New York, Amsterdam, Hong Kong, London, and Singapore.