USJ-IMECO, a portfolio company of J.F. Lehman & Company, has acquired Joiner Systems. No financial terms were disclosed. Headquartered in Montreal, Joiner makes accommodation systems for commercial and government ships.
NEW YORK, Aug. 7, 2014 /PRNewswire/ — Affiliates of USJ-IMECO Holding Company, LLC (“USJ-IMECO”), a portfolio company of J.F. Lehman & Company (“JFLCO”), today announced the acquisition of Joiner Systems, Inc. Joiner Systems primarily designs, engineers, and manufactures accommodation systems for commercial and government ships. The Company is headquartered in Montreal, Quebec.
USJ-IMECO is a leading independent provider of turnkey marine joiner, distributed systems and electro-mechanical solutions for government and commercial customers involved in new ship construction and vessel maintenance, repair and overhaul. Headquartered in Crozet, VA and Iron Mountain, MI, the company employs approximately 700 people across the United States. USJ and IMECO were acquired by J.F. Lehman & Company in 2011 and 2012, respectively, and later combined in a platform that has completed several strategic acquisitions adding both capability and geographic reach.
Tom Eccles, Chief Executive Officer of USJ-IMECO, said, “We are very pleased to welcome Joiner Systems and its employees to the USJ-IMECO family. The addition of Joiner Systems adds a highly complementary set of design, manufacturing and installation solutions and capabilities to the USJ-IMECO platform to better serve our customers. This acquisition also strengthens our presence in Canada and improves our ability to support shipyards implementing the Canadian National Shipbuilding Procurement Strategy.”
Former owners Zack and Spyros Papachristou will continue to play key leadership roles in the Joiner Systems division. Zack stated, “Spyros and I believe the combination of USJ-IMECO and Joiner Systems is in the best interest of our employees and our customers. We’ve found a true business partner in USJ-IMECO and JFLCO with extremely deep contacts and resources in the markets we serve.”
Blank Rome LLP and Gowling Lafleur Henderson LLP provided legal counsel to USJ-IMECO.
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.
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