J.F. Lehman & Company Completes Sale Of Drew Marine
NEW YORK, Nov. 19, 2013 /PRNewswire/ -- J.F. Lehman & Company ("J.F. Lehman"), a leading middle-market private equity firm focused on the maritime, defense and aerospace sectors, announced today that it has sold its portfolio company Drew Marine to affiliates of The Jordan Company. With a corporate heritage that dates back to 1928, Drew Marine is the leading independent global manufacturer and provider of advanced performance chemicals and safety solutions to virtually every sector of the international maritime and offshore markets. Terms of the transaction were not disclosed.
Since acquiring Drew Marine in 2009, J.F. Lehman worked successfully with the company's management team to reinvigorate Drew Marine's core business of providing global maritime customers (representing over 11,000 ocean-going vessels) with critical products and services across approximately 1,000 port locations in 50 countries around the world. These organic growth initiatives were augmented by two strategic acquisitions which substantially increased Drew Marine's product portfolio, customer base and distribution channels.
"We are proud of the profitable growth and expansion that Drew Marine has achieved over the past four years," said Len Gelosa, President and Chief Executive Officer of Drew Marine. "J.F. Lehman has been instrumental in helping solidify our reputation and brand portfolio, expand our capabilities through organic growth and acquisition, improve our infrastructure and recruit key talent to our team. We look forward to continuing this momentum under The Jordan Company."
Louis Mintz, Chairman of Drew Marine and a Partner at J.F. Lehman, added, "Our successful partnership with management since 2009 enabled Drew Marine to firmly establish a proven track record as an industry leader. In addition, the sale of Drew Marine represents an excellent outcome for our investors, whose support has been essential to our organization's continuing success."
Concurrent with the sale of Drew Marine, J.F. Lehman also sold its portfolio company ACR Electronics, Inc. ("ACR") to The Jordan Company. ACR is a leading provider of safety and survival solutions including emergency rescue beacons and safety and signaling lighting to aviation, marine, military and outdoor recreation markets worldwide.
Evercore Group LLC and Rothschild, Inc. served as financial advisors to J.F. Lehman and Jones Day provided legal counsel.
About J.F. Lehman & Company, Inc.
J.F. Lehman & Company is a leading middle-market private equity firm focused primarily on the maritime, defense and aerospace sectors.
For more information about J.F. Lehman & Company, please visit www.jflpartners.com.
SOURCE J.F. Lehman & Company
More by this Source
National Response Corporation Completes the Acquisition of RK Contractors
Nov 21, 2013, 15:53 ET
J.F. Lehman & Company Completes Sale Of Northeast Ship Repair, Inc.
Nov 20, 2013, 14:35 ET
J.F. Lehman & Company Completes Sale Of ACR Electronics, Inc.
Nov 19, 2013, 16:16 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.