Leonard Green & Partners, L.P. (LGP) is an American private equity investment firm founded in 1989 and based in Los Angeles.^[1] The firm specializes in private equity investments. LGP has invested in over 95 companies since its inception, including Petco and The Container Store.^[2][3]

In June 2023, Leonard Green & Partners were ranked 20th in Private Equity International's PEI 300 ranking of the largest private equity firms in the world.^[4]

Leonard Green was founded by Leonard I. Green in 1989^[5] after separating from Gibbons, Green and van Amerongen Ltd. (Gibbons Green), a bank which he had co-founded in 1969 with Edward Gibbons and Lewis van Amerongen.^[6][7] Leonard Green died in 2002, leaving the firm to be run by John G. Danhakl, Peter J. Nolan and Jonathan D. Sokoloff.^[5]

The firm's predecessor, Gibbons Green was among the earliest practitioners of the leveraged buyout and management buyout.^[6][7] Gibbons Green purchased several companies, including Purex Industries in 1982,^[8] Budget Rent a Car from Transamerica in 1986 and Kash n' Karry Food Stores in 1988.^[6][7][9] The company planned to purchase Argonaut Group Inc in 1987, but withdrew from the buyout.^[10]

The dissolution of Gibbons Green and the formation of Leonard Green & Partners is attributed by some to the failure of two buyouts: Ohio Mattress Company and Sheller-Globe Corporation.^[11][12][13]

In 2019, LGP named John Baumer and Evan Hershberg co-heads of the Jade Fund.^[14]

In March 2020, partners at LGP committed to plans for a $10 million employee-assistance fund for employees of Leonard Green portfolio companies impacted by the COVID-19 pandemic.^[15][16]

In 1996, LGP sold its stake of Thrifty Payless to Rite Aid Corporation.^[17]

Between 1997 and 2008, LGP made several acquisitions, including Leslie's Poolmart and Petco.^[18][2]

In 2016, LGP closed Green Equity Investors VII, L.P. ("GEI VII"), with $9.6 billion of committed capital.^[19] In 2019, LGP raised $14.75 billion for two new funds.^[14]

Between 2009 and 2018, LGP's acquisitions included The Container Store and Jo-Ann Stores, and The Shade Store, among others.^[3][20][21] In 2012, LGP invested in Shake Shack.^[22]

In July 2020, LGP, alongside TPG Capital, invested in WellSky, a health and community care technology company.^[23] In November 2020, LGP acquired Service Logic from Warburg Pincus.^[24][25]

In February 2021, ProPublica reported on a dispute between LGP and Rhode Islands regulators and legislators over LGP's divestment in Prospect Medical Holdings.^[26][27]

In November 2017, LGP purchased PureGym, Britain's largest gym chain by membership.