NorthStar Group Services Announces Planned CEO Succession

Scott State to Become Executive Chairman; Jeffrey Adix Appointed Chief Executive Officer

NEW YORK, July 14, 2026 /PRNewswire/ -- NorthStar Group Services, Inc. ("NorthStar"), a portfolio company of J.F. Lehman & Company ("JFLCO"), today announced a planned leadership transition designed to support the next phase of the Company's growth and value creation strategy.

Effective immediately, Jeffrey Adix, currently Chief Financial Officer, will be appointed Chief Executive Officer and join the NorthStar Board of Directors. Scott State, who has served as Chief Executive Officer since 2010, will transition to the role of Executive Chairman, where he will continue to work closely with leadership and the Board on long-term vision, key stakeholder relations, and high-level strategic initiatives. Scott will continue to serve as NorthStar's Chief Nuclear Officer.

"Jeff is the right leader to guide NorthStar through its next chapter of growth," said Glenn Shor, JFLCO Managing Partner and NorthStar Director.

"Throughout his tenure, Jeff has played a critical role in developing and executing our strategic initiatives, strengthening our financial performance, and helping build the organizational capabilities necessary to achieve our long-term objectives. Following a thoughtful succession planning process, the Board concluded that he is exceptionally well positioned to seamlessly transition from Scott and serve as our next CEO.

Scott's leadership resulted in significant capability enhancements at NorthStar, which have generated significant value for customers, employees, and shareholders. We look forward to benefiting from his continued support as Executive Chairman."

Scott State said:

"Leading NorthStar has been one of the greatest privileges of my career. Together, our team has taken on some of the most iconic and complex projects ever executed, with an unwavering focus on safety and business integrity, leading to dramatic growth in both our scale and profitability.

I have tremendous confidence in Jeff's ability to lead the organization forward. He has earned the trust of the Board, management team, and investors through consistent leadership, operational rigor, and strategic insight. This transition reflects the strength of the management team and supports the continued execution of our strategic plans. I look forward to continuing to support the business as Executive Chairman and partnering with Jeff to ensure a smooth transition."

Jeffrey Adix said:

"I am honored by the confidence that Scott, the Board and our shareholders have placed in me.

Scott and our NorthStar team have built an exceptional company with a strong culture, talented employees, and unique leadership positions across each of our core service offerings. I am excited to build on that foundation as we continue to serve our customers, invest in our people and keep them safe, pursue further growth opportunities, and create value for all stakeholders."

Jeffrey has served as Chief Financial Officer of NorthStar since 2016. Prior to joining NorthStar, he held leadership positions with multiple global companies, including Fiserv, Veolia, ManpowerGroup, and SC Johnson. He holds a BSBA degree from Drake University and a MBA from the University of Wisconsin - Milwaukee.

About NorthStar

Based in New York, New York, NorthStar Group Services, Inc. is the world's most comprehensive infrastructure and environmental solutions company. For more than 35 years, NorthStar has helped its commercial and government partners remediate, deconstruct, and decommission non-compliant or obsolete infrastructure across a diverse set of end markets. NorthStar is licensed in all 50 states. Learn more at: www.northstar.com.

About J.F. Lehman & Company, Inc.

Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, government, maritime, environmental and infrastructure industries. The firm has over $9 billion in AUM across its private equity and credit strategies and offices in New York and Washington, D.C.
www.jflpartners.com