Kleinfelder Expands Midwest Presence with Veenstra & Kimm Acquisition
Deal News | Apr 09, 2025 | Lindsay Goldberg Bessemer
Lindsay Goldberg, a renowned private equity firm, has announced that its portfolio company, The Kleinfelder Group, Inc., has acquired Veenstra & Kimm, Inc. The acquisition is a strategic move aimed at expanding Kleinfelder's presence in the Midwest and enhancing its service capabilities. Veenstra & Kimm, headquartered in West Des Moines, Iowa, provides a broad range of engineering and environmental services across the Midwest, particularly to transportation, water resources, and municipal markets. The acquisition will see Veenstra & Kimm forming Kleinfelder's new Midwest Division under the leadership of Steve Thompson. This development is in line with Lindsay Goldberg and Kleinfelder's strategic vision of organic growth coupled with targeted acquisitions, as noted by Lindsay Goldberg Partner Krishna Agrawal. The buy-side was advised by Morrisey Goodale, Winston & Strawn LLP, and KPMG, while the sell-side was represented by PSMJ Resources, Inc., Donahue Fitzgerald LLP, and Denman CPA.
Sectors
- Engineering and Construction
- Private Equity
Geography
- United States – The focus is on expanding operations and presence in the Midwest region of the US, specifically Iowa, Illinois, and Missouri.
Industry
- Engineering and Construction – The industry involves companies providing engineering and environmental professional services, which is central to Kleinfelder and Veenstra & Kimm's business operations.
- Private Equity – This sector is relevant as it highlights Lindsay Goldberg's role in financing and strategic growth initiatives driving Kleinfelder's acquisition strategy.
Financials
- Not disclosed – The financial terms of the acquisition were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lindsay Goldberg | Private Equity Firm | Company | A private investment firm focused on partnering with families, founders, and management teams for business growth. |
| Kleinfelder Group, Inc. | Bidding/Acquiring Company | Company | An engineering, design, and environmental professional services firm, backed by Lindsay Goldberg. |
| Veenstra & Kimm, Inc. | Target Company | Company | A provider of engineering and environmental solutions based in West Des Moines, Iowa. |
| Morrisey Goodale | Buy-Side Advisor | Company | Provided advisory services for the acquisition. |
| Winston & Strawn LLP | Buy-Side Legal Counsel | Company | Provided legal counsel for the acquisition. |
| KPMG | Buy-Side Transaction Advisor | Company | Provided transaction advisory and tax services for the acquisition. |
| PSMJ Resources, Inc. | Sell-Side Financial Advisors | Company | Provided financial advisory services for the sale. |
| Donahue Fitzgerald LLP | Sell-Side Legal Counsel | Company | Provided legal counsel for the sale. |
| Denman CPA | Sell-Side Transaction Advisor | Company | Provided transaction advisory and tax services for the sale. |