J.F. Lehman & Company Expands Its Investment Reach
J.F. Lehman & Company (JFLCO), a prominent private equity firm known for its focus on aerospace, defense, and environmental sectors, recently announced a strategic acquisition that underscores its commitment to growth. The firm has successfully acquired a majority share in W.S.S. Holding A/S, commonly known as Wrist, a notable player in the maritime supply and logistics landscape.
Partnering for Growth
In this new venture, JFLCO will team up with Altor Equity Partners and the existing management team at Wrist. Notably, both Altor and the management will retain significant stakes in the company, ensuring a continued collaborative effort as Wrist navigates its next growth phase. This partnership is expected to leverage the strengths of both entities to enhance operational effectiveness and service delivery.
About Wrist and Its Industry Leadership
Wrist operates as a leading global provider of marine supply and logistics services, dedicated to the maritime industry. With over six decades of expertise, the company excels at sourcing, storing, and delivering a comprehensive range of provisions and spare parts to vessels around the world. Employing approximately 2,275 professionals, Wrist's extensive network reaches more than 750 ports, reinforcing its status as a critical player in the maritime supply chain.
Innovative Solutions in Maritime Supply
With a robust reputation for optimizing the maritime supply chain, Wrist is distinguished by its integrated, end-to-end service offerings. The firm's commitment to digitization positions it as a pioneer, continuously seeking innovative solutions to meet the evolving demands of its clients.
Statements from Leadership
Alex Harman, Partner at JFLCO and new Director of Wrist, expressed excitement about collaborating with Wrist, emphasizing the company's reputation for excellence. Harman stated, “We are thrilled to partner with the Wrist team as well as Altor and welcome the Company to the J.F. Lehman & Company portfolio.”
Will Hanenberg, Managing Director at JFLCO and the new Chairman of Wrist, highlighted the remarkable alignment of Wrist with JFLCO's investment strategy. He stated, “Wrist is an outstanding fit with our investment strategy. Its strong positioning with blue-chip customers, paired with its innovative solutions, are enhancing the maritime supply chain.”
Jens Holger Nielsen, Group CEO of Wrist, shared his enthusiasm about the partnership. He mentioned, “This collaboration with J.F. Lehman & Company allows us to leverage their extensive expertise to accelerate our growth journey.”
Financial Structuring of the Acquisition
To facilitate this acquisition, a Nordic bond offering was orchestrated by ABG Sundal Collier, acting as the Sole Global Coordinator, while Danske Bank served as a Joint Bookrunner. Moreover, a revolving credit facility was put in place to support the operational needs following the acquisition.
In addition, ABG Sundal Collier provided financial advisory services to JFLCO. Legal advisors for JFLCO included reputable firms, ensuring that all aspects of the transaction were thoroughly handled. Bank of America also played a role as the financial advisor for Wrist, with legal counsel ensuring compliance for both the company and its equity holders.
About J.F. Lehman & Company
Established in 1992, J.F. Lehman & Company focuses on private equity investments primarily in the aerospace and defense sectors, along with government and environmental industries. With offices located in key financial hubs, JFLCO continues to grow its portfolio, and this acquisition of Wrist is testament to their strategic vision.
Frequently Asked Questions
What is the significance of J.F. Lehman & Company acquiring Wrist?
J.F. Lehman & Company’s acquisition of Wrist represents a strategic expansion into the maritime supply industry, aiming to enhance service offerings and operational excellence.
Who will manage Wrist after the acquisition?
The current management team at Wrist, along with Altor Equity Partners, will remain significant shareholders, ensuring continuity and expertise in managing the company.
How will this acquisition benefit Wrist?
The partnership with JFLCO is expected to bring additional resources and expertise to Wrist, helping accelerate its growth and innovation in the maritime supply chain.
What industries does J.F. Lehman & Company focus on?
J.F. Lehman & Company specializes in aerospace, defense, government, maritime, and environmental sectors, prioritizing investments in these areas.
Where is Wrist headquartered?
Wrist is headquartered in Aalborg, Denmark, and operates globally, serving numerous ports and implementing innovative logistics solutions.
